Mobile Money Picks Up Speed

  • By Vince Kadar
  • Monday, April 08, 2013

A report from Western Union in late March indicates that mobile money is picking up speed. The survey, the Western Union Payments Mobile Mindset Index revealed some interesting findings as consumers increasingly move to online and mobile payments.

The study found that “in the U.S. alone, 39% of consumers said they would pay more bills online, while 12% were willing to pay more bills by mobile phone.” For emergency payments, 14% of consumers indicated that they’d like to have a mobile payment option.

This study while the numbers aren’t staggering, show some progress in the U.S., which has been slow to adopt mobile money when compared with the rest of the world. Consumer behaviour is shifting, and that means we will continue to see more and more mobile payments in the coming years. As consumers become increasingly comfortable with online payments, the natural next step is using their mobile due to simple convenience. All of which is good news for mobile money in North America.