Google+ Consumer Psyche: Mobile banking

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Friday, June 5, 2009

Mobile banking

Over 150 million mobile subscribers will access banking services on their mobile devices by 2011. The fastest adaptability is by China 41%, UK 22%, US 12%, Africa 8% and India at 7%. The reason India is only 7% is attributed to the fact that most of the Indian masses do not have bank accounts and even for those who have accounts there is a technology hurdle to cross. This adaptability and acceptability issues have to be tackled. Accessing banking services on the mobile include transfer of funds, paying bills, etc. Several security concerns ward off consumers from using anything online. The positive thing in this is that Indian acceptability is growing at 200%. Are you in this league?
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