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‘Unbanked’, kids pushing for mobile banking

Bank of America might be celebrating reaching one million mobile banking customers, but there are millions more set to do their financing over their phone, according to analysts Juniper Research, and a significant proportion of those will be coming from users who have never had a bank account or credit card before.

Some 41.5 billion mobile financial service transactions will be made by the end of 2011, according to Juniper, with the Far East and China expected to use mobile finance the most. The region will see 250 million people adopting mobile financial services within the next few years.

It’s interesting to note that Juniper reckons aside from the “unbanked”, the other big push to mobile financial services will come from kids between 13 and 18 who can’t get credit cards and so will end up using their phones as an online payment mechanism. Surely this is something Visa and friends should be looking at – turning mobile phones into prepaid credit cards?

6 replies on “‘Unbanked’, kids pushing for mobile banking”

I've used Opera Mini to access Halifax's online banking. Less than ideal, but it worked! Would be better if they had a actual mobile-optimised site though.

Which other bank is offereing such services ? Is the website for mobile baking mobile-optimised ? last but not the least is it secure enough

Which other bank is offereing such services ? Is the website for mobile baking mobile-optimised ? last but not the least is it secure enough

There is another link under the category of personal finance but it has nothing to do with finance. If you have difficulties in making payment, you can click the link named http://www.wachoviabank.com. You will have an expert helping you to fix your problems and you don’t have to go out of your home to get the service. What you need to do is to choose a button between the two “call us today” and “we’ll call you”. Don’t you think this service shows the attentiveness and consideration of the Wachovia? It’s really good in my opinion.

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