Mobile Banking Booming in Canada

by Mercator Advisory Group 0

Surveys show that Canadian consumers are increasingly using their mobile devices to carry out banking transactions.

Nearly half, or 49%, of Canadian smartphone users expect to bank from their device in the next 12 to 24 months, according to a new survey.

The survey found that 35% of Canadian smartphone users have done banking on their mobile devices in the past 12 months. Of those, 53% were 18 to 34 years old, compared with 38% of respondents 35 to 54 years old and 12% of those 55 or older.

Mobile banking has become a natural choice of many consumers worldwide as mobile phones become ever more powerful, mobile banking services are becoming more reliable and user-friendly, and faster mobile data connections makes the experience more enjoyable.

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