BACK

Research and Statistics

Infographic: Mobile banking on the rise for young and old alike

Summary

A quarterly survey conducted by Citi revealed that consumers who bank using their mobile device is growing, even among older age groups.

The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

A quarterly Citi survey reveals that mobile banking is a growing trend — and not just among younger Americans.

According to a survey of 2,001 adults released in August 2012, 49 percent of consumers own a smartphone or tablet. Of those mobile device owners, 64 percent use their device to manage their finances.

While younger consumers between the ages of 18 and 34 are still more likely to use mobile banking (71 percent, according to the survey), older Americans are embracing the technology as well. The survey found that the majority of 35- to 49-year-olds (67 percent) and 50- to 64-year-olds (53 percent) who own a mobile device use it for banking; almost half of 65-year-olds and older do the same.

“Nearly a third of Americans are already using a smartphone or tablet to manage their money, and today older generations are increasingly accounting for the growth in mobile adoption,” Citi Managing Director and Head of Consumer Internet and Mobile Banking North America Tracey Weber said in a press release.

Study: Americans' biggest money worry is retirement
To use this CreditCards.com graphic on your site, use the following code:

 <center><a href=”https://www.creditcards.com/credit-card-news/infographic-mobile-banking-rising-all-ages-1701.php”><img alt=”Infographic: Mobile banking on the rise” border=”0″ src=”https://www.creditcards.com/credit-card-news/images/infographic-citi-modile-pay3.jpg” height=”360″ width=”344″ /></a> </center>

See more infographics

 

What’s up next?

In Research and Statistics

Fed: No rate hikes until at least 2015

If you've been holding off on buying a new car or refinancing your mortgage, you've still got plenty of time. The Federal Reserve announced Thursday that it will continue to leave the federal funds rate target at rock bottom

Published: September 13, 2012

See more stories
Credit Card Rate Report Updated: August 21st, 2019
Business
15.55%
Airline
17.49%
Cash Back
17.63%
Reward
17.49%
Student
17.69%

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.