I keep press releases that I find interesting to blog about in a special folder. Sometimes I don't get to them and then I have to throw them away because they expire. However, I looked at this press release by Mercator (dated July 2009) (read here), and I felt that the message is still fresh and relevant.The report refers to the comparison between two consumer research assignments conducted in May 2008 and June 2009. With two report one year apart, it is possible to draw some conclusions on changes in behaviour. The report concludes (amongst others) "exponential growth seen among the younger generations" in using their mobile for banking and also payments. The big growth in numbers reporting that they now use their mobile to also pay and transfer money (I believe) is really significant. If the reported growth is to be projected to today, close to half of the US population in the age-group below twenty-five are using their mobiles for financial services.
Anybody in banking not taking this seriously should be fired.
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