Mobile Phone Banking and Payments on the Rise

Posted on May 15 2011 - 9:06am by Robert

Making payments and checking bank accounts are becoming ever more popular activities which we carry out on our mobile phones according to the results of a new piece of research.

In the last year mobile banking use has doubled, and this trend has really extended across all aspect of what is known as the “mobile wallet” industry. It has been reported in the TNS research study called Mobile Life that over 10% of us use a mobile phone to make payments these days.

Around 20% of UK banking customers use their mobile phones to check the balance or to do basic transactions such as transfer some cash. It appears that the proliferation of smartphones and online banking service has changed forever the way that we carry out our financial transactions.

The current price battle between smartphone manufacturers is helping consumers get their hands on great phones at better prices than ever, and the inclusion of Near Field Communication features on the likes of the Nexus S show us how this trend is going to go in the near future.

The one glaring gap in the NFC market to date is the lack of iPhone presence, with Apple bosses said to be concerned about the protection of private user details. Apart from this, it was recently revealed that all BlackBerry gadgets will soon have this feature incorporated into them.

What type of banking and payment transactions do you carry out on your phone? Would you like to see even more services available in the future?

About the Author

Leave A Response