Growing Acceptance of Mobile Banking Apps in America

October 7, 2015, Written By Lynn Oldshue
mobile phone with mobile banking screen isolated over white

According to a new survey from TSYS, consumers across America have adapted well to mobile banking apps. Half of the 1,000 consumers surveyed said they have installed mobile applications from their banks, and 70% of those people said they use their apps a few times each month.

“We expect the emphasis on digital engagement and technology to continue as innovation increases and new products become available to consumers,” said John Dale Hester, group executive of Relationship Management at TSYS.

The survey not only assessed the adoption of mobile banking apps, but it also looked into the way people pay. Debit cards remain the most popular payment method in America at 41%, but their popularity has declined from 43% in 2014 and 49% in 2013. Credit cards remain the preferred payment method among 35% of the respondents.

Rewards and benefits continue to be the main reasons consumers select a certain card over another. 55% of respondents say loyalty rewards are the most attractive feature in a card they choose. When asked how often they would like to receive information about special offers from their card providers, 43% of consumers said about once a month.

Email was the preferred method of receiving communications from their financial institution, with 46% of the respondents saying they would rather receive news in this way.

The information contained within this article was accurate as of October 7, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.