As more financial services become available on mobile phones, a greater sense of responsibility about money could be fostered among British consumers, one writer claims.
Cliff D'Arcy, a personal finance author, noted that consumers can now effectively carry their banks around in their pocket, being able to check their statements on the spot and decide whether a particular purchase would be financially prudent.
"Mobile phone banking enables you to see the state of your bank account within minutes and whether or not you can afford that pair of designer jeans," he pointed out.
Recent Tower Group research found that almost 41 million customers in the US plan to carry out banking using mobile devices at least once every 90 days by 2012.
And Gartner predicts that by 2011, 100 million customers will make payments using their consumer or business mobiles.
"There are lots of ways of contacting your bank," noted Mr D'Arcy.
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