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BizReport : Mobile Marketing : March 23, 2012

By 2016, 1 in 10 will pay bills via smartphone

As smartphones and tablets become more integral to day-to-day life, more people will use their devices to pay bills and other banking activities. According to Juniper Research's latest study, mobile banking users prefer the choice offered by triple-play mobile solutions.

by Helen Leggatt

By 2016, 10% of all mobile users will use their device to pay bills, according to Juniper Research's "Mobile Banking for Developed & Developing Markets" report.

The report estimates that the number of transactional mobile banking users will rise from 185 million in 2011 to over half a billion in 2016.

Of those who use mobile banking, the majority (80%) will use mobile to pay their bills by 2016.

Triple-play mobile solutions offered by banks, defined as solutions that combine SMS, Internet browser and mobile apps, have the highest adoption rates among users, according to the report, because consumers prefer to have the choice of which channel to use depending on what banking activity they are conducting.

"The triple-play option is popular as there is clear evidence that consumer prefer a choice of delivery according to the service engaged," said Windsor Holden, research director at Juniper Research.

"It is perhaps surprising that a significant minority of banks have yet to offer an SMS-based product: given the ubiquity of text - and end-users' familiarity with the mechanism - it is ideal of a means of reaching a bank's entire user base."

Tags: m-commerce, mobile apps, mobile banking, mobile payment, online banking, SMS

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