Economic changes make it difficult to maintain rapid growth by relying on traditional banking business alone, leading commercial banks to pursue growth in nontraditional realms. As an electronic business channel, mobile banking has become a catalyst for enhancing the overall performance of banks. Improvements to mobile financial products and services help banks to expand
and cultivate a stable and solid customer base, increase customer loyalty and service use, hence raising business loan and payment volume. Mobile financial services require that banks not only deem it as an expansion from traditional functions to mobile terminals, but also consider potential, innovative mobile Internet features to meet financial demand and build competitive edge.
Global mobile financial services show enormous user potential and the Asia-Pacific region will become the most important regional market. Swedish market
research company BergInsight estimates that by 2015, mobile banking and related business transactions will reach 894 million users worldwide, reflecting compound growth of 59.2 percent compared with the 55 million users in 2009. The number of users in the Asia-Pacific region alone may exceed more than half of the total number of bank users around the world.36 With the continuous expansion of the user population in China and the increasing demand for mobile financial channels, coupled with the urgent need of traditional banks to adopt new delivery options, mobile banking is poised for growth. The integration of more financial services has become one of the focal points for next generation
commercial banks. In 2011, mobile banking in China developed steadily. Year over year increases in cell phone users in China, particularly smart phone users, have created a ready user population for the growth of the mobile banking
business. As of the end of October 2011, the number of cell phone users in China reached 964 million, and 3G users exceeded 110 million.