Federal Reserve: mBanking Sees Jump In 2012

By  |  April 1, 2013
 | 

Mobile banking for both regular phone and smartphone users increased in 2012, according to a recent report by the Federal Reserve.

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    The Fed report notes that mBanking usage among mobile phone users increased from 21 percent in 2011 to 28 last year. Similarly, mBanking among smartphone users jumped from 42 percent in 2011 to 48 percent in 2012.

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    The study also found that of the 90 percent of underbanked consumers with mobile devices, 49 percent used mobile banking in 2012.

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