The Netherlands, US and UK leaders in mobile banking
While 33% of Europeans have already used a mobile payment app, which allows the user to make payments via mobile or tablet, this is expected to increase to 51% over the next 12 months.
This means as many as 185m European consumers could be moving towards a cashless society choosing to pay electronically rather than with physical cash.
The Survey on Mobile Banking also revealed that Turkish (56%) and Polish (43%) mobile device owners are leading the way when it comes to embracing mobile payment apps – a higher adoption rate than in the USA (42%), according to ING international survey of more than 14,000 consumers.
However, the uptake of mobile payment apps is more gradual across some of the stronger European economies. Just one in eight have made payments via smartphone or tablet in the Netherlands (13%), while a quarter across Germany (23%) and France (25%), and 30% in the UK have done so – all of which lag behind leaders Turkey and Poland.
For those yet to embrace mobile payment apps, a lack of trust is cited as the biggest barrier (42%). These figures suggest there is still work to be done in reassuring consumers that their details are secure.
The Netherlands is the "most developed" mobile banking market in the ING International Survey 2015 – a position it has held for the previous two surveys. The United States is in second place in the survey, closely followed by the United Kingdom.
Overall, uptake in Europe (indicated by the weighted average European consumer) is lower than in the United States and Australia, but the share in Europe who intend to use it in the next 12 months is higher. ■