Customer adoption of mobile payments is growing fast, and banks need to respond with products and services to cater to this growing demand, according to a new report released by financial researcher and consultant IDC Financial Insights today. The consultant’s eighth annual Consumer Payments Survey showed that the popularity of mobile payments had more than doubled, with more than 33 percent of respondents saying that they use mobile payments services.
“Demand is clearly there,” the report states. “Banks need to make sure that they are not left behind by non-banks that are more narrowly focused on the opportunity.”
