A recent study by Harris Interactive revealed that consumers are becoming more and more comfortable using mobile devices to pay their bills and make online payments. About 25% of mobile phone users with mobile access to the Internet now use their devices to buy goods and services online. Consumers between 25-44 years of age earning more than $100,000 annually are the most willing to use mobile devices to pay their bills and make purchases. Their primary motivation: convenience and to avoid carrying cash / writing checks.

The study also found that 16% of mobile phone subscribers are using online banking services and are increasingly comfortable with their mobile device. 60% of those surveryed use the services at least once a week. 35% of those who currently do not use mobile banking were open to checking balances and transferring funds using their mobile phone. 33% also said they would like to receive text message alerts from their financial institutions.

But another study by Javelin Strategy & Research showed a huge divide between age groups. The report showed that only 14% of 44-55 year olds would use mobile payment systems. The same is true for 55 to 64 year-olds, who care more about sending and receiving money quickly than any other age group (39%), but only 11% are likely to use mobile P2P payments. This group’s cautious behavior may be caused by a lack of familiarity or trust in mobile devices / new technology.

* See the Harris Interactive Study or Javelin Strategy & Research Report.

Posted in News & Info

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.