Financial services proving popular on mobile phones
25 May 2011
Brits seem to be becoming more adept at using their mobile phones to make financial transactions, if new TNS research is anything to go by.
The custom market research specialists found in its Mobile Life study that a fifth of people in the UK are now turning to their mobiles for payment strategies and banking.
Furthermore, banking services via portable devices have shot up by 100 per cent in the past year, with 20.4 per cent of respondents now using this technique.
Of the 34,000 users surveyed, TNS also found that 11.9 per cent of them are now paying for goods via their mobile phones.
Stephen Yap, group director at TNS Technology, believes that the increased use of smartphones is helping with the attractiveness of mobile finance services.
He explained: "In the last 12 months in particular, the openness of the Android platform has increased handset competition and driven down prices, meaning more people can use their handsets as a payment tool."
The study comes soon after Pay Your Way research found that 67 per cent of Brits now prefer online banking over other means of accessing their accounts.
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