As the opportunity continues to grow, how likely are consumers to use m-commerce? A survey by Monitise and the Future Foundation.

2. Most consumers are already using
banking services via their phone
... many already use mobile banking services
Checked
balance
Checked
statement
Paid
a bill
Balance
transfer
Which, if any, of the following banking services have you one on your
d
mobile phone either on a website or using an app. or via SMS / text
banking? Among smartphone owners.
Paid
friend / family
UK
Germany
Overdraft
alert
Spain

3. Meanwhile, mobile
commerce continues to grow
Percentage who have
bought something
(that is not an app)
through their
smartphone

4. Financial institutions
have a key role to play
Consumers might be suspicious of bankers, but they
still trust financial institutions:
PayPal
My bank
Credit card
eg. Visa
Retail
eg. Amazon
Network
eg. Vodafone
Germany
UK
Software
eg. Google
Spain
Hardware
eg. Apple
0%
LEAST TRUSTED
20%
40%
60%
80%
100%
MOST TRUSTED

5. Banks can leverage consumer
trust and purchasing requirements...
The availability of banking
services is important
when purchasing.

6. ...and build on
existing services

7. Going beyond banking
Some may be surprised, but consumers are ready
for financial institutions to expand their role…

8. M-commerce is a ready opportunity
for financial institutions
Most consumers would be more confident in
m-commerce if they could buy through a banking app.
UK
Germany
Spain

9. Many would feel valued if their
bank offered information about
products and services that they
could purchase.
(varying from 25% in Germany to 46% in Spain)
100%
I have no strong opinion
I have no strong opinion
Indifferent, it doesn’t matter to me as long as I get the best deal
’m not interested in where it’s coming from
I
80%
Indifferent, it doesn’t matter to me as long as
I get the best deal on any product/service
on any product/service
I’m not interested in where it’s coming from
60%
Concerned, I think financial institutions should
Concerned, I think financial
not advise people about non-financial matters
institutions should not advise people
about non-financial matters
40%
Valued, I think banks should provide more
information to customers
Valued, I think banks should provide more information to customers
Surprised, I hadn’t even considered that banks
might be able to do anything other than deal
with my money matters
20%
Surprised, I hadn’t even considered that banks might be able to
do anything other than deal with my money matters
0%
UK
Germany
Spain
Source: Monitise/Future Foundation/nVision | Base: 500 online respondents
per country who are aged 16+ and own a smartphone, 2013

10. The key is to prioritise usability
and provide the right incentives
Ease of use and loyalty schemes emerge as important
motivators in encouraging the use of a bank app.
UK
Germany
Spain

11. Find out more about the
Mobile Money opportunity at:
www.monitise.com/insights