Households the world over will pay more than $20 billion of their bills through mobile devices and PCs by the end of the year, according to a new research report.
Juniper Research, a leading technology market research firm, in its Mobile and Online Banking: Developed and Developing Market Strategies 2014-2019 report found that the number of household bill payments made via PCs, Tablets and Mobiles will exceed $20 billion this year, representing approximately 16% of all global consumer household bills.
This trend is being driven by a growing consumer acceptance of transactional digital banking, and the sharp rise in mobile banking adoption overall.
The report finds that usage will continue to increase over the next five years as consumers opt for a multiple and immediate channel approach and use the mobile channel increasingly to manage their accounts.
According to Juniper, despite the higher numbers of mobile users making use of bill payment and presentment services, it was still the PC and tablet users that produced the higher transaction values.
This highlights the importance of larger screen platforms for purpose of banking and bill payments. Digital banking users prefer the convenience and perceived security of the tablet or PC over the mobile handset, according to the report.