1 Out Of 10 Mobile Users Will Pay Bills Using Phone By 2016

Must Read

Microsoft Warns Millions of Windows 10 Users, And It’s Scary!

Microsoft’s Windows 10 update worries seem to haven’t stopped even after they started to secretly offer Windows...

Microsoft Study Reveals Indians Have Become Less Digitally Civilised Than The Previous Years!

With the coming age of digital boom in India, more and more people have been gaining access...

Facebook Falls Prey To Coronavirus: Cancels Global Marketing Summit 2020

The deadly Coronavirus outbreak seems to have now become the primary cause of the cancellation of another...
Abhishek Singhhttp://dazeinfo.com
An Engineering Graduate, Fervent Industry Analyst, passionate about mobile, innovative technologies and Entrepreneurship.

The demand of mobile payment is continuously increasing day-by-day and lots of companies including credit card providers, mobile operators, and even tech-giant such as Google and PayPal are also planning to deploy mobile payment system.  Mobile Payment has become one of the easiest way of paying without any botheration of carrying the credit card or cheque . Users are presently using the mobile payment in order to have wide range of services and products such as music, videos, tickets booking and others. An analysis firm–Juniper Research— has recently released a report titled “Mobile Banking for Developed & Developing Markets”, which forecasts that the transactional mobile banking services usage is going to surpass 550 million by 2016 from 185 million in 2011.

The firm has also stated that the users who have tasted the flavor of bill payment through their mobile devices are expected to be continued for active transactions. As the mobile adaptation rate is increasing with dizzying pace, it’s expected that nearly 80% of total mobile banking customers are going to pay their bills using mobile devices by 2016.

Juniper’s Research Director–Windsor Holden–said, “The natural progression is to engage in transactional banking, as they demand tighter control over their finances within a turbulent economic environment and busier lifestyle which are at odds with a 9 to 5 branch-based service.”

Advertisements

However, Juniper is little apprehensive with security concern due to the rapid growth in ‘Spyware’ and ‘Malware’, which could hurdle older demographics to use their mobile handsets for bill payments. According to the research analysis firm, triple-pay solutions–SMS, web and mobile app–are being adopted by folks with highest swift. The firm has also identified that the transactional frequency in developing regions is going to be outburst– where users don’t have numbers of alternative modes for bill payment.

In addition to these, a recent report reveled that mobile payment will reach $240 billion and $670 billion by the end of 2012 and 2015 respectively. Indeed, it will create a greater opportunity for mobile banking too. That’s why, banking sectors are aggressively promoting the mobile banking facilities to users and emerging countries are also very eager to adopt the services.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Microsoft Subdomains Have A Massive Security Loophole, Leading To Cyber Attacks!

A security researcher has pointed out the fact that Microsoft’s thousands of subdomains are prone to many...

SoftBank On Uneven Grounds With Vision Fund 2: Spent $2.5 Billion To Boost Confidence

The Japanese tech conglomerate SoftBank Group Corp seems to be highly optimistic about the investment scenario worldwide even after a few...

Apple To Launch A New iPhone On 31st March To Take Competitors By Surprise

A surprise launch of a new Apple iPhone, dubbed as iPhone SE 2, may take place soon. Much has been speculated and...

Paytm And PhonePe Will Spend Jaw-Dropping Amount On Marketing Efforts In 2020

It has recently been reported that Paytm and PhonePe which are leading digital payment companies of India have combined allocated a humongous...

SEO Secret: Meta Description Drives More Clicks Than Title, Reveals Study!

If you are a digital marketer in 2020 or someone who takes a keen interest in consumer behaviour, you’d be shocked with...

Chrome Had More Than 500 Harmful Extensions: Users Beware!

Google is committed to providing a clean, safe and enhanced internet experience through its Chrome browser. In a bid to do so,...

In-Depth: Dprime

YouTube Should Have Bid Adieu To Dislike Button Much Earlier?

Online video sharing platform YouTube can be a ruthless place for content creators targeted by 'dislike mobs'. And the site owners totally understand that...

Facebook Has Pulled Off A Masterstroke By Integrating Its ‘Family Of Apps’?

It’s indeed hard to believe that ONE man sitting at Menlo Park, oversees how nearly a third of the world’s population interacts with each...

Facebook’s Crunch Conquest: By Relying Largely On The US Market, Is Facebook Running a Risk?

Two billion! That's Facebook, Inc. (NASDAQ: FB) for you - Right when you thought that this social-media giant has already connected the entire world, it's...

More Articles Like This