Kenya king of mobile banking even with privacy concerns

Mobile privacy is the single biggest concern for today’s mobile consumers and remains the largest obstacle to growth, according to MEF’s fourth Global Consumer Survey, which analysed consumer behaviour from 15,000 respondents in 15 countries.

According to the survey, lack of trust is most evident in China and Mexico (41 and 40 percent versus an average of 34 percent). Brazil has also seen a sharp rise in trust-related concerns (from 31 percent to 36 percent). The survey also found that paying or banking via a mobile device means different things in different markets – but adoption is growing worldwide. Germany is an early adopter of in-app purchases, with a rate of 44 percent versus a global average of 19 percent. However, Kenya remains the king of mobile banking, with 93 percent of consumers using their mobile device to perform banking transactions. There is also significant usage in the Middle East (78 percent) and Nigeria (85 percent, up from 76 percent in 2013).

According to telecompaper, the survey found that the use of mobile in education is thriving, above all in Kenya, where 45 percent say mEducation makes learning more convenient (versus a global average of 33 percent) and 39 percent appreciate its enabling of remote learning (versus a 26 percent global average).  European mobile users are not so keen, with only 16 percent saying it makes learning more fun, and 12 percent that it makes it more social (versus a global average of 26 percent and 23 percent respectively). US consumers are only slightly more positive, with 20 percent replying that it makes learning more fun, and 14 percent that it makes it more social.

These and other findings will be revealed when the survey is officially presented at the MEF Global Forum 2014 to be held in Silicon Valley on 17-19 November.

Staff Writer