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Nairobians prefer mobile banking, says study

City centre.

Majority of Nairobi residents prefer transacting money on their mobile phones rather than from banks or their agents, a new study by conducted by Kenya Banker’s Association (KBA), dated January 2014,  has revealed.

The survey shows that of 88 per cent of Kenyans with active bank accounts, 59 per cent use mobile phone for banking transactions.

When the respondents were asked to rate their ability to use banking devices, their ability to use mobile phones was the highest at 74 per cent, while a quarter of the respondents felt inadequate to utilise their mobile phones.

Kenya Bank Association CEO Habil Olaka said the increasing number of mobile transaction usage in the country is perhaps an indication that the country is moving towards a cashless economy.

“Today in most joints in Nairobi, one easily pays one’s bills without necessarily giving out cash, and that is where we want everyone to go,” noted Olaka while releasing the survey.

He said Kenya is likely to embrace mobile banking as it seeks to curb money laundering.