17 December 2017
visit http://response.ncr.com

Asia drives rapid m-banking uptake - ABI Research

17 February 2010  |  7850 views  |  0 Is Bank m-banking

The number of people around the world using mobile banking services is doubling every year and will reach 250 million subscribers by 2015, according to ABI Research.

Of these, 66 million will be in North America but it is Asia, and in particular India, that is leading the way in take-up, already accounting for the lion's share of the 30 million subscribers in 2009.

Growth in Europe and North America has been limited so far because - in contrast to banks elsewhere - the financial institutions in those areas have been offering mobile banking primarily to existing users of their online services, says ABI. Wide access to computers and easy access to physical bank branches lessened consumers' motivation to adopt the new channel.

However, the firm says this could be changing and cites Wells Fargo's recent decision to extended its text banking service to all customers, including those yet to sign up for online banking.

Mark Beccue, senior analyst, ABI, claims that moves like this will mean a new wave of mobile banking growth outside Asia: "North America and Europe are still a long way from what anyone would call a 'mass market' uptake of mobile banking, but those regions offer the best long-term conditions for that to occur," he says:

Projections on the uptake of m-banking vary wildly. Last year Berg Insight claimed numbers will hit 900 million by 2015 while Juniper Research predicts 150 million by 2011.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Wells Fargo extends text banking to all customers

Wells Fargo extends text banking to all customers

05 February 2010  |  10432 views  |  0 comments
Barclays adds third party payments to m-banking service

Barclays adds third party payments to m-banking service

26 January 2010  |  11951 views  |  1 comments
Cgap examines the future of mobile banking

Cgap examines the future of mobile banking

20 November 2009  |  10102 views  |  1 comments
M-banking services should target offline customers - survey

M-banking services should target offline customers - survey

07 October 2009  |  10275 views  |  2 comments
MoBank launches

MoBank launches

06 July 2009  |  13004 views  |  1 comments
US mobile banking goes mainstream - TowerGroup

US mobile banking goes mainstream - TowerGroup

26 May 2009  |  7729 views  |  0 comments
CGAP and Wizzit team on m-banking for South Africa's rural poor

CGAP and Wizzit team on m-banking for South Africa's rural poor

08 April 2009  |  9092 views  |  0 comments
M-banking users to hit 900 million by 2014 - study

M-banking users to hit 900 million by 2014 - study

13 March 2009  |  9017 views  |  0 comments
Contactless m-commerce fails to take off

Contactless m-commerce fails to take off

12 March 2009  |  9709 views  |  0 comments
Mobile banking numbers to hit 150m by 2011 - report

Mobile banking numbers to hit 150m by 2011 - report

14 January 2009  |  7753 views  |  0 comments
Bank of America signs one million to m-banking

Bank of America signs one million to m-banking

11 June 2008  |  7678 views  |  0 comments
Mobile banking and payment users to reach 900m in 2012

Mobile banking and payment users to reach 900m in 2012

30 May 2008  |  16140 views  |  0 comments
Mobile fund transfers offer huge revenue opportunity - ABI Research

Mobile fund transfers offer huge revenue opportunity - ABI Research

11 July 2007  |  5509 views  |  0 comments
Spending on contactless payments systems to hit $800m by 2011

Spending on contactless payments systems to hit $800m by 2011

14 December 2006  |  8914 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.niceactimize.comvisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10585 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
10175 views comments | 18 tweets | 36 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
7344 views comments | 9 tweets | 10 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7271 views comments | 19 tweets | 22 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6679 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job