Boston, May 14, 2012 – A new report from Aite Group provides an overview of worldwide consumers’ adoption of and attitudes toward mobile payments and mobile banking. Based on a Q1 2012 ACI Worldwide survey of 4,200 consumers in 14 countries, the report identifies “Smartphonatics”: consumers who change their shopping, financial, and payment behavior as a result of owning a smartphone.
Across the globe, one segment of consumers—Smartphonatics—is driving the demand for mobile payments and banking. The differences in mobile payments and banking behavior between Smartphonatics and other consumers are stark. In the past six months, 70% of Smartphonatics worldwide have used their mobile device to make a payment, and 80% have used their device for banking purposes. In contrast, less than a quarter of other consumers have made a mobile payment, and only one-third have completed mobile banking transactions. Interestingly, the smartphone is simply an enabler—not a driver—of changing behavior. What makes this group important is its changing behavior, which provides a blueprint for how later adopters of smartphone technology will behave.
“Smartphonatics exist across the globe, and while their ranks differ across countries, one thing is consistent: Their mobile payment and banking behaviors stand out from those of other consumers,” says Ron Shevlin, senior analyst with Aite Group and author of this report. “This group is driving the adoption of mobile payments and banking, and setting the bar for how financial institutions will have to respond over the next five years.”
This 46-page Impact Report contains 53 figures and 11 tables. It is available clients of Aite Group’s Retail Banking service.