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Kenya tops in m-banking

img_2083Kenya remains the king of mobile banking with 93% of consumers using their mobile devices to perform banking transactions, according to MEF’s fourth Global Consumer Survey. The survey found that mobile privacy is the single biggest concern for today’s mobile consumers and remains the largest obstacle to growth. MEF analyzed consumer behaviour from 15,000 respondents in 15 countries. It said lack of trust is most evident in China and Mexico (41 and 40% versus an average of 34%). Brazil has also seen a sharp rise in trust-related concerns (from 31% to 36%). The survey also found that paying or banking via a mobile device means different things in different markets – but adoption is growing worldwide. Germany is an early adopter of in-app purchases, with a rate of 44% versus a global average of 19%. However, Kenya tops the list. There is also significant usage in the Middle East (78%) and Nigeria (85%, up from 76% in 2013). The survey found that the use of mobile in education is thriving, above all in Kenya, where 45% say mEducation makes learning more convenient (versus a global average of 33%) and 39% appreciate its enabling of remote learning (versus a 26% global average). European mobile users are not so keen, with only 16% saying it makes learning more fun, and 12% that it makes it more social (versus a global average of 26% and 23% respectively). US consumers are only slightly more positive, with 20% replying that it makes learning more fun, and 14% that it makes it more social.

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