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.