Mobile Banking Use Doubled Over Past Year in New Zealand

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The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year according to Roy Morgan's latest Mobile Phone Monitor.

While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles -- up from 8.3% in January last year.

The adoption of mobile online banking differs markedly between brands: one in three Apple iPhone users compared to one in ten Samsung users; however this proportion will continue to increase in line with the availability of mobile banking applications on Samsung's Android operating systems.

Roy Morgan Technology Adoption Segments show that smartphones are no longer the preserve of 'early adopters' -- they are fast becoming mainstream. Watching the behaviour of smartphone users can therefore provide insight into the future behaviour of New Zealanders as a whole.

Over 20% of smartphone users In Australia now bank on their phones, while the proportion still using the computer has just fallen below half.

Pip Elliott, General Manager, Roy Morgan New Zealand, says: "Banks are rightly investing in mobile technologies to give their customers increased flexibility and security. The introduction of Near Field Communications (NFC) technology -- which allows smartphones to be used as a credit or debit card -- will no doubt impact further on the trend."

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How smartphone users bank

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Tags: mobile banking  New Zealand 

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