Mobile device banking users will soar to one billion by 2017 as tablet use and mobile banking lead to increased online settlement of bills, a Juniper report recently released reveals.
According to the findings of Mobile Banking: Handset & Tablet Market Strategies 2013-2017, 19 per cent of all banking transactions will occur through tablets with one in every four tablet owners making use of mobile banking by 2017.
Furthermore, active mobile bankers will make up 15 per cent of worldwide device owners.
Nitin Bhas, author of the report, said: “Online payments [will] account for a significant proportion of all bill payments.
“Especially in developed markets, BPP (Bill Presentment and Payment) transactions will indeed migrate from the desktop towards tablet devices. Consumers often prefer managing bill payment and transactions via tablet devices compared to smartphones.”
A steady shift from laptops to tablets, as well as simultaneous development of mobile phone banking, is also noted.
The report labels informative services ‘push’ and mobile banking services as ‘pull’.
Africa is not expected to be in the highest market penetration category, still relying greatly on the use of paper-based techniques for payments.
