Mobile banking apps usage predicted to surpass online banking by 2019

Mobile banking apps - Increase in mobile banking over computers

More and more consumers are turning to their smartphones for their banking needs. The CACI reported that 22 million people chose to use mobile banking apps to manage their accounts via their smartphone in 2017. It’s forecasted that by next year (2019), more consumers will choose their phone for banking than their computers. 35 million people are expected to bank via a smartphone app by 2023. In addition to this CACI report prediction, it was said that by 2023, consumers would likely visit a bank branch only twice per year.…

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1 in 5 mobile banking customers use QR codes

qr code scans

In Poland, 20 percent of consumers have been scanning quick response codes through the mBank service. The findings from a new Marketing Mobilny w Polsce 2013-2014 report has revealed that almost 20 percent of Polish people between the ages of 16 and 40 years are using QR codes as a part of their mobile banking habits. The survey was conducted with the participation of 302 smartphone users who reside in Poland. The mBank service was recently introduced in Poland and has become quite popular. It is based on the use…

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Mobile banking app adoption rates revealed in new study

Mobile Banking Industry

The research was conducted by TSYS and was recently released in a report called the “2015 U.S. Consumer Payment Choice Study”. The outcomes of the 2015 U.S. Consumer Payment Choice Study by TSYS have now been released and have provided notable insight into the use and adoption rates of mobile banking apps by consumers. The survey involved the participation of more than 1,000 customers in order to identify those trends. It revealed that the use of mobile banking apps is growing and that among those who have already adopted these…

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QR codes authenticate online banking transactions at Rabobank

payment fraudulent qr code

These quick response codes will now be used to boost the data and mobile security it provides. Rabobank has announced that it is enhancing the security that it provides for its online banking experience trough the implementation of Vasco Data Security technology, which uses high definition QR codes for authentication of customers that use their web based services. Central to this effort is the Rabo Scanner, which uses a color display and embedded camera. That device is used for capturing the QR codes that are displayed on the computer screen,…

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Mobile payments from banks trusted by UK consumers

Mobile commerce Risks

A recent survey has shown that British smartphone users prefer paying with their bank’s services. Although consumers in the United Kingdom have always had a form of love/hate relationship with their banks, the results of a recent survey have shown that these are still the institutions that smartphone users in that country like the most in terms of mobile payments services. They may not be thrilled with their banks, but they do trust them in terms of the security of their services. The mobile payments survey was conducted by U.K.-based…

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Mobile commerce app from Chase bank providing alternative as website struggles

Mobile Commerce Banking Trends

As the standard site faces considerable issues, the smartphone application is offering another online option. Though it occurred on April Fool’s Day, the technical difficulties that were experienced on the Chase Bank website, and that were sending customers to the mobile commerce app, were neither a prank nor a joke. Late in the day, the standard website for the bank began to struggle and choke as users attempted to log in. The bank’s support Twitter feed (@ChaseSupport) tweeted “*ALERT* Chase Online is experiencing intermittent issues,” to advise customers that there…

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Mobile banking will break the 1 billion user mark in 4 years

Mobile Banking

By the year 2017, studies are showing that the use of these services will have skyrocketed. The latest mobile banking study data from Juniper Research has indicated that an increasing acceptance of this type of smartphone and tablet based service has caused users to bring the number of users up to nearly 200 million. It is expected that the growing use of tablets will play an important role of the industry’s adoption. In fact, while mobile banking over tablets represents 9 percent of the total number of customers at the…

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Mobile payments show signs of taking off in US

mobile payments banking check deposit

The latest figures show that approximately 12 million Americans have been depositing checks using smartphones and tablets. According to the latest numbers, estimates regarding the use of mobile payments in certain areas are actually higher than many of the predictions had expected them to be. While smartphone wallets continue to struggle to take off, certain banking behaviors are skyrocketing. The check deposit sector of mobile payments has proven to be faster in its growth and stronger overall than even the most bullish advocates of the industry had predicted. This particular…

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Mobile payments partnership formed between Smartlink and Tagit

mobile payments partnership deal

These two companies have joined together for a Vietnamese smartphone banking service. Tagit, a smartphone banking provider based in Singapore, has just announced that it has entered into a partnership for mobile payments with Smartlink, a payment switch operator from Vietnam. This new offering is geared toward allowing bank with a membership to offer smartphone services. According to the Tagit president and head of business development, Navtej Singh, “This is an important milestone for Tagit as we introduce our aggregated service, which will expand the user base on Tagit’s mobile…

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Mobile payments agreement created between Vodafone and ICICI Bank

Mobile commerce industry partnership

The initial launch will occur in the eastern region of India but it will expand from there. ICICI Bank has just announced that it has joined into a partnership with Vodafone India that will allow customers to use mobile payments to purchase goods and transfer funds. At first, the service will be available in Jharkhand, West Bengal, and Bihar in the east. The mobile payments service will be referred to as “m-pesa” and will allow consumers to create an account with ICICI bank, from which their Mobile Commerce Solutions. This…

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