PayPal Media Network has released a new report that found that financial services saw a 60 percent higher click-thru rate on mobile advertisements delivered using geofencing, Mobile Commerce Daily reported on August 8.
Convenience and gas stations saw the biggest increase - 68 percent - using the advertising technology. Retailers experienced a 17 percent increase from geofencing.
"The most surprising finding was that geo-fenced campaigns promoting financial services saw such a massive lift compared to non-geofenced campaigns in the same sector, a 60 percent lift," Sarah Hodkinson, director of marketing and sales at PayPal Media Network, told the media outlet.
For more of the study's results, click here.