Generation Y to drive the mobile banking growth in the U.S.

A recent Celent’s report on mobile banking indicates that 35% of U.S. households will access their banking accounts using mobile phones by 2010. Benefits such as quick direct (seamless) payments with a cell phone will drive the growth of the mobile banking services. According to Celent, the so called “mobile contactless payments” will make up to 10% of the contactless market by 2010. Furthermore, the report says that while at the moment mobile banking is being used by less than 1% of population in the States, the growth is set to come especially from the Generation Y, consisting of 18- to 25-year-olds… Read the full release here.