Telecom Lead India: Tablet banking services are set to reach almost 200 million in 2017.
Push mobile banking and tablet adoption will drive the significant growth.
The growth will represent approximately 19 percent of total mobile banking customers in 2017, compared to 9 percent this year.
This is a good news for mobile banking industry.
Mobile banking users will exceed 1 billion in 2017, representing 15 percent of global mobile handset users.
The developed markets of Far East & China, North America and Western Europe will have the highest penetration of banking users in 2017.
Transactional banking growth across all markets will be at the expense of paper-based bill presentment, cash and cheque payment. This means, traditional banking will suffer over a period of time.
Adoption of bill presentment and payment (MBPP) transactional banking by tablet users will be higher than mobile handset users, especially in developed areas where there is a higher adoption of tablet devices, according to Juniper Research.
As consumer tablet adoption continues to rise, there will be significant migration of purchasing and transaction activity from laptops and desktops to tablet devices. Indeed, the development of the ‘couch commerce’ trend within the payments industry will be increasingly replicated within the banking industry.
“With online payments accounting for a significant proportion of all bill payments, especially in developed markets, BPP (Bill Presentment and Payment) transactions will indeed migrate from the desktop towards tablet devices. Consumers often prefer managing bill payment and transactions via tablet devices compared to smartphones,” said report author Nitin Bhas.
However, with banks bundling MBPP services within their mobile banking platform and additional momentum from easy to use smartphone apps, mobile phone transactional banking usage will quickly increase.
