300 mn users access Mobile banking worldwide

Xen

EntMnt Ambassador
Official Info
The number of mobile banking users worldwide reached 300 million with adoption of the service in developed countries growing significantly.

Mobile networks now cover between 85-90 percent of the world’s population. The number of mobile phones in use around the world in 2011 reached six billion.

Mobile banking has changed traditional methods of banking and its usage has improved not only in developed countries, but also in developing countries as well. Banks and mobile carriers are moving towards more sophisticated techniques of marketing as a result of security and user-friendly concerns.

To enhance their marketing, banks and mobile carriers are using IT technology for ensuring security and user friendliness. Mobile banking is not only used for basic transactions of online banking, such as checking balances, viewing recent transactions, paying bills and transferring funds but also for marketing of the various products and services offered by banks.


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