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Fed Says 21% of Mobile Phone Users Did Banking With the Devices

Joshua Zumbrun

Thursday, March 15, 2012 - 11:42

The Federal Reserve said 21 percent of U.S. consumers with mobile phones used the devices to access a bank account, credit card or other financial account during the 12 months that ended in January.

The Federal Reserve said 21 percent of U.S. consumers with mobile phones used the devices to access a bank account, credit card or other financial account during the 12 months that ended in January.

“The use of mobile banking is poised to expand further over the next year, with usage possibly increasing to one out of three mobile users by 2013,” the Fed said in a release today in Washington. “However, the survey indicates that many consumers remain skeptical of the benefit of mobile banking and the level of security associated with the technology.”

The survey of 2,300 people was conducted between Dec. 22 and January 9 and showed that the use of mobile banking is especially common among younger consumers.

 

Read the full story by clicking the link below
http://www.bloomberg.com/news/2012-03-14/fed-says-21-of-mobile-phone-users-did-banking-wit h-the....
 
Tags: Mobile Banking, Americas, Security

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