NEW YORK, (Reuters) – Banks and cellphone companies have a long way to go to persuade U.S. consumers to use their cellphones for banking, as many worry about security and extra fees and others are not even aware they can.
In a survey of about 500 U.S. consumers, accounting firm KPMG found that only about 9 percent had tried mobile banking. In comparison, about 76 percent “consistently use” online banking services on computers.
As many as 95 percent said they were so uncomfortable with conducting financial transactions on their phones that they’ve never used them to make a purchase on a retailer’s Web site.
About 48 percent of res-pondents cited security and privacy worries as their reason for not banking on their cellphones, according to KPMG.
While many respondents said they believe mobile banking is important, according to the accounting firm, they do not think it is important enough to pay extra for it.
