M- stalls among UK users
Think Money reports.
Despite this, 80% of these smartphone users have not 'embraced' mobile banking - and two thirds of smartphone users don't do any mobile banking whatsoever.
The biggest reason seems to be fears about security - as 55% said that they were afraid that their personal details wouldn't be secure.
Fear that banking details will not stay secure in the mobile channel are cited by 55%, Credit Union Times notes.
Over one third (35%) said the small screen is a problem. One in 10 said the mobile apps they had looked at were not very good.
Some 58% of respondents also said they would not use their smartphone as a credit card substitute - the so-called tap and pay mobile payments model - even if their phone were so equipped.
Of those who said they would not use the feature, 67% pointed to fears of data insecurity as the reason.
Younger smartphone owners expressed more willingness to use this feature, with 42% of 18- to 24-year-olds saying they were willing to try their smartphone as a mobile wallet.
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