Article
Just over one in 10 South Africans with bank accounts has ever used his or her cellphone for banking, according to research into cellphone banking released by World Wide Worx in late November 2007. One of the big surprises is that the youth market, which is usually assumed to be at the cutting edge of all things technological, is the least likely to have tried cellphone banking. The opposite is true: usage of cellphone banking tends to increase with age. In fact, almost a quarter of South Africans with bank accounts who are aged 46 – 55 have used their cellphones for banking, versus less than 10% in the youth and young adult markets.