RJ and Makay

There's something the financial services industry should know about the Android smartphone. Android users tend to be younger people who are willing to use their smartphones for financial purposes, says Mark Schwanhausser, a senior analyst at Javelin Strategy & Research.

Whereas 34% of all smartphone owners use their phones to make point-of-sale purchases, 43% of Android owners do this, Schwanhausser reports. Android owners are also more likely to use their smartphone to buy event tickets are (51% vs. 41% of other smartphone users), track gift and loyalty cards (48% vs. 38%), and make price comparisons while shopping (61% vs. 55%).