According to a report issued by US-based business acceleration firm Prosper Insights & Analytics, more than 3 in 4 mobile users (77.1 percent) conduct banking activities using a smartphone or tablet and more than half (57.9 percent) say they engage in shopping behaviors via mobile. Two in five (44.5 percent) also say they pay bills, create shopping lists (43.3 percent) and “clip” coupons on their mobile devices (40.2 percent).
The report has also found that women appear more likely than men to engage in couponing and list-creating activities on smartphones and tablets. Also, top bills to pay via mobile include wireless service (68.2 percent), credit card (66.9 percent) and internet service (38.8 percent).
The study has also explained that, with the vast integration of mobile devices into all aspects of everyday life, it is increasingly important for retailers, service providers and app developers to meet the needs of consumers. Mobile users are demanding the best functionality from the mobile web, apps and even their banks. They want to be able to check balances on the go, find ATMs and be alerted if they are about to overdraw their accounts. It is essential that mobile banking apps meet consumer expectations as they dominate a list of apps used most often for financial activities.
Finally, the report has revealed that, besides an excellent mobile experience, those who conduct financial matters via a smartphone or tablet also want to be sure their information is safe. Over half of mobile users (59.5 percent) say they are still concerned about privacy issues. 21.3 percent say they are not concerned about such security threats and 19.2 percent are on the fence.
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