According to a survey that was carried out recently into the mobile finance market of the United Kingdom, one in ten consumers of the country used the mobile wallet technology for making payments for the commodities purchased and the service had, through their mobile phone.

This means the use of mobile wallet technology by the mobile phone users in the United Kingdom has almost doubled up in the last twelve months.

The research was conducted by a TSN research paper, Mobile Life, into the use of mobile phones in the United Kingdom. According to the research one out of every five consumers in Britian presently use their handset for basic banking activities such as account balance checking that is also up on the previous year by 100 per cent.

According to the figures unveiled by the research 11.9 per cent of the customers in the United Kingdom used their mobile phone for making online payments, while this figure was just 5.9 per cent twelve months back. It was also disclosed that 20.4 per cent of United Kingdom's mobile phone users regularly carried out banking through their smartphone.

Stephen Yap, TNS Technology's group director said that the massive rise in the consumption of mobile wallet technology in the United Kingdom pointed to the dramatic effect, the technology had on their lifestyle.