Consumer use of mobile banking applications is accelerating at a rapid pace. In the U.S., nearly one-third of people (31 percent) use mobile banking more than any other app on their smartphone. Only logging onto social media (55 percent) and checking the weather (33 percent) are more common mobile activities.
This is according to the 2018 Mobile Banking Study from Citi, which revealed that 46 percent of U.S. consumers have increased their use of mobile banking in the past year. Eight out of 10 people (81 percent) now use their phone to manage their money on nine days in every month, on average.
Mi-Pay (LON:MPAY) are a recognised leader and pioneer in the cardholder-not-present payment solutions market. They have a particular expertise in assessing and mitigating fraud risks whilst optimising the direct top-up journey for prepay mobile or international calling card consumers and increasing non-fraudulent transaction acceptance rates.