This post is part of the series we began last week: 12 Reasons Why Canadian Banks Should Really Offer Mobile Services. As a Canadian consumer of financial services I want those services on my mobile now! This is all part of my own little push to get it done.
Decima Research on behalf of the Canadian Wireless Telecommunications Association in its 2008 study reported the incredible increase in wireless phone access and usage in Canada.
Wider Wireless Phone Usage
Wireless phone usage in Canada is wider with more households than ever before reporting having access to a wireless phone. As you can see from the graph below wireless phone access in Canada in the year 2000 was only at 44% and by 2008 it had jumped to 72%.
Wireless Phone Access in Canada
Deeper Wireless Phone Usage
That growth is also deeper with more households in Canada having access to more than one mobile phone.
Among those who currently own or have access to a wireless phone in their household, one third (32%) indicate there is only one wireless phone in their household, while over two thirds of them (69%) report having access to two or more wireless phones, including 11% with access to four or more wireless phones.
Number of Phones in the Household - 1997 to 2008 (Canada)
Broader Wireless Phone Usage
Finally, the growth is also broader since it has spread to a larger demographic. As the below shows, wireless phone usage is ‘alive and well’ in Canada and its increase in penetration is due to growth across the country and in all age groups.
Access to Wireless Phones in Canada: 1997 to 2008
So What Does It All Mean?
Those of you reading this from outside Canada may not be that impressed with our growth or penetration. What you need to understand is that Canada is (unfortunately) much different than wherever you may find yourself right now. A combination of government regulations and a market choked by lack of competition does not make Canada a country of happy mobile users. In fact, you can pick someone off the street in Toronto, Vancouver or Montreal and you will probably hear about this first hand… and this in spite of Canadians not really being complainers! (No really … we mostly only complain about gas prices and wireless prices).
Considering this, 72% of Canadians having access to wireless phones is a feat in and of itself. It actually speaks to the need in the marketplace for mobile connectivity. Canadians have overcome hurdles (i.e. third most expensive developed country for wireless services, lack of real choice and competition) and have embraced mobile technology.
… and Mobile Banking?
That’s right. We almost forgot didn’t we? How does this all tie back to mobile banking and our idea that the time is now for real mobile financial services?
Due to Canadian geography, it is not clear to me whether or not we will ever have 100% (or higher) wireless penetration in Canada. However, the Canadian market has expanded over the last few years and I would imagine that banks in Canada have also noticed this and have been preparing for this. The first bank in Canada who comes out with mobile banking (not just a simple mobile browser app) will gain the immediate attention of all these folks we just mentioned above. There is so little that differentiates our banks from each other that enabling and engaging with mobile consumers would be huge win to whichever bank does it first. They would carry the ‘innovator’ tag for quite a while after that.
The full report can be found at the Canadian Wireless Telecommunications Association website here: Harris/Decima 2008 Wireless Attitudes Study.
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