Up from ten per cent today.
A study of 1,000 adults by the Future Foundation think-tank, commissioned by Monitise, found the majority of Britons will be using their mobile phone to manage their bank accounts, pay bills and make purchases within the next three years.
The proportion will exceed half the population as banks and retailers increasingly use apps and the mobile web to extend their services.
The report cites NFC, person to person payments, location-based offers, shopping, transport, ticketing and entertainment among the key developments.
Other findings included:
* 57 per cent of people have used mobile banking more frequently in the past year than they did in the previous year.
* 68 per cent of people find banking on the handset easier than over the internet.
* 70 per cent of people of mobile bankers are very keen to use their mobile to buy things.
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The report also highlights the importance of ‘simple complexity’ – the ability to do complicated things easily and intuitively.
This is being driven by apps (over SMS) and is evident in the fact that mobile bill payments, balance transfers and checks happen at home, despite the presence of a broadband-connected computer in the household.
Alastair Lukies, CEO of Monitise, said: “The fact that more than half of Britons are expected to be using mobile money services in the next few years compared to one in 20 two years ago demonstrates an exceptional rate of growth.
“The driving forces are clear: people wanting to manage their money more closely; the arrival of the smartphone; and the development of 3G networks which transfer all the information required so quickly, plus the creation of new apps and services by banks and retailers.
“Mobile banking has truly come of age as people no longer see the ability to effectively manage their finances by mobile as a novelty or a ‘nice to have’ but increasingly as the norm.”
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