A joint study conducted by IAB, InMobi and Viggle has found that buyers are increasingly using mobile devices for money management.

The study, entitled “Mobile and Money,” found that 58 per cent of respondents used their bank’s mobile app, while 25 per cent knew in regards to the app but hadn’t tried it out. Similarly, 50 per cent of respondents used their bank’s mobile-optimized website, while 26 per cent were accustomed to the positioning but had not yet used it.

Security issues were a key element for plenty of respondents – 52 per cent of these surveyed stated that they’d desire a solid make sure that mobile financial transactions were safe before they’d engage in additional finance activities through a mobile device. 46 per cent indicated that they might ought to see better security on their mobile network before using their mobile device to conduct financial activities.

“Most financial apps already contain rock-solid security,” said Anna Bager, VP and GM for the Mobile Marketing Center of Excellence, IAB, “but consumers seem to not be as plugged into that fact, and that knowledge gap could make each of the difference in driving further usage and adoption. Here is a place that financial services marketers should listen in on of their future campaigns.”

Other statistics present in the report reflect a growing popularity in using a mobile device for making purchases. Of the respondents surveyed, 42 per cent used a mobile device to pay for his or her phone bills, 46 per cent to pay other bills, 34 per cent to buy goods/services, 37 per cent to buy tickets, 45 per cent to pay for digital products, and 19 per cent to send money to family or friends.

 “Consumers show a undeniable willingness and interest in using their smartphones as a mechanism for making payments,” said Shrikant Latkar, VP of worldwide Marketing for InMobi. “The impediment is with retailers and individuals not currently being installed to just accept those payments.”

Adoption of brand-brand financial and payment apps among respondents showed PayPal on top at 37 per cent, while Mint came in at 11 per cent, Turbotax at 9 per cent, Square at 8 per cent and Google Wallet at 7 per cent.