The convenience of m-banking operations, the need for lower transactional costs, as well as an increasing demand for microfinance, mobile remittances and micropayments services from the unbanked customers are some of the factors which will boost the adoption of mobile banking services.
The report titled Mobile Banking: A Global Strategic Business Report announced by Global Industry Analysts also indicates that Asia-Pacific will emerge as the predominant market in terms of customer base. In North America and Europe, mobile banking has come to be regarded as an extension of online banking services, while the ability to bring financial services to remote areas via the mobile banking technology is to bring benefits to the Middle East and African markets.
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