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Smartphones Now the Majority – Mobile Payments Poised for Growth

Posted January 31, 2013 by David Cutter

According to the most recent CTIA Mid-Year 2012 Survey, there are now more wireless/mobile connections (almost 322 million) than there are people in the United States, and as of November 2012, smartphones accounted for 53% of the US market – up from 39% only a year earlier. Rapid growth is expected to continue as smartphones currently account for approximately 70% of all new handset sales in the US.

Smartphone Market share

Smartphone growth is largely being driven by an extraordinary expansion of high speed data connections world-wide that are allowing users to more easily conduct business directly from their phones.

So what does this mean for utilities?

It means there is a great opportunity for utilities to open up a convenient new payment channel to their customers. It also means, at some point in the near future, having a mobile-optimized presence for account access and making quick payments will become an expectation instead of a “nice to have.”

Mobile data growth

A common goal for nearly all utilities is to drive higher customer adoption rates of their automated and more cost-effective processes, such as customer self-service, sending electronic bills, and accepting electronic payments.

With mobile payments expected to have a breakout year, and already moving from tech-savvy early adopters into the mainstream, utilities should be considering mobile as a viable payment channel going forward.

One Response to “Smartphones Now the Majority – Mobile Payments Poised for Growth”

  1. [...] payments for utility bills are on the rise again. Much of this growth can be attributed to the proliferation of mobile phones. IVR payments have increased steadily in the past three years. Over 180 utilities use our IVR, and [...]

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