Mobile Banking iOS Users More Profitable Than Android Users

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Android may triumph over Apple when it comes to phone sales, but in the world of mobile banking, iOS reigns supreme. According to a report from Malauzai, a mobile banking software company, iOS users are more engaged as well as more profitable than Android users.

Apple phones account for 66% of Malauzai mobile banking accounts, even though Android makes up 80% of the global smartphone market. Malauzai believes this is because people who use iOS products are “older end-users who can afford the devices and who are probably more profitable consumers to financial institutions.” The company also believes that iOS devices are more user-friendly when it comes to mobile banking.

The value of money moved in iOS accounts is 80% higher than Android accounts. The average Apple user also has a higher account balance than the average Android user, which may be why iOS customers are more active in mobile banking.

72.5% of iOS users have active accounts, meaning they log in at least one time every 90 days. By comparison, only 67% of Android users are considered active account holders.

iOS users are 70% more active with picture bill pay than Android users, meaning they are more likely to pay bills through an app using their smartphone cameras.

From a mobile banking perspective, Apple phones and tablets are by far more profitable than Android products, despite their limited hold on the market.

About John Oldshue

John Oldshue is the creator of SaveOnPhone.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers long distance and cell phone topics for SaveOnPhone.