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Mobile banking on the rise
News brought to you by Skint Tariffs, providers of price comparison for cheap international calls.UK mobile phone customers who use skinttarrifs.com access codes to make cheap international calls to speak to young friends and family in the US could discover that American youngsters are increasingly taking up mobile banking.
A new survey by IBM's retail banking consulting practice seen by the Associated Press suggests that while many Americans are unsure about using their phone for financial transactions, people of Generation Y are coming round to the idea.
The survey revealed that 21 per cent of 18 to 34-year olds used their mobile phone for making banking transactions. Among the general population the figure was just ten per cent.
Aite Group also predicts massive growth, noting that between 2006, when the number of mobile banking users was negligible and the end of 2007, there was a massive surge to 1.7 million. The research firm predicts that by 2010 there will be 35 million Americans using mobile banking.
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