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Consumers are becoming more willing to pay to use their banks’ mobile apps

August 25, 2016 / Source: Business Insider

Bank app users in the U.S. may become more willing to pay a small monthly subscription fee to use their mobile banking app, according to a recent study by S&P Global Market Intelligence.

Though the majority of survey respondents, which included 3,897 US bank app users, said they're unwilling to pay, 21% of respondents said they'd pay $3 a month, and 40% said they'd be willing to pay $1 a month. The survey results suggest a concerted shift in consumer behavior in regards to subscriptions for apps.

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