By January 2, 2009

Users wary of mobile banking

bank Around the world mobile devices are becoming integral parts of the banking system. Usage differs from country to country; from sms money transfers in Africa, to full scale mobile banking in Japan and Korea. However a new report suggests that mobile consumers in the USA do not feel comfortable using their handsets to interact with their banks. According to the report consumers are worried about handset security, hackers getting into their account, and what happens if the phone is lost.  While these concerns are legitimate, mobile devices are often a far safer way to remotely access a bank account, than using a PC over wifi.

The report discusses some things that may reassure a nervous public, like offering complete fraud protection, and a guarantee to reimburse you if anything should happen, the same kind of steps that eventually made people comfortable using atm’s and debit cards.

It seems like the main concerns American consumers have shows a wide misunderstanding of how mobile devices work and how these devices interact with the internet. There’s already some mobile banking apps out there, and they really do make banking more convenient. Major banks already have mobile optimized websites, Bank of America and Chase Bank have apps for the iPhone, Visa and Mastercard also have big plans for mobiles coming soon. It is only a matter of time before people become comfortable enough to take advantage of the convenience mobile banking can provide, but this report seems to suggest it wont be anytime soon.

Via InformationWeek

Posted in: Phones

About the Author:

Seasoned tech blogger. Host of the Tech Addicts podcast.
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