A study of mobile banking and payment adoption rates in 14 countries by ACI Worldwide and Aite Group has discovered a new category of consumer – “Smartphonatics” – that is driving the demand for mobile payments and banking.

A Smartphonatic is someone who changes their shopping, financial and payment behavior as a result of owning a smartphone. For instance, while 80 percent of Smartphonatics have used their smartphones for mobile banking, only a third of non-Smartphonatics report doing so.

Similarly, 70 percent of Smartphonatics have used their smartphones for mobile payments, compared to less than a quarter of non-Smartphonatics.

The report asserts that Smartphonatics’ behavior is shaping consumers’ needs and requirements for mobile payment and banking solutions in today’s market, and sets the bar for how financial institutions and retailers will have to respond over the next five years to stay competitive.

“Smartphonatics enthusiastically use their smartphones when they shop for products and services as well as when they interact with their banks,” said Ron Shevlin, senior analyst, Aite Group. “They exist around the world and while they may be more concentrated in some countries it is quite clear they are an emerging consumer force. Smartphonatics are driving the adoption of mobile banking and payments and will be an agent for change. Financial and retail institutions will need to adapt or risk being left behind.”

Globally, around 25% of consumers qualify as Smartphonatics, with higher numbers found in India and China than in the United States and Europe.

Smartphonatics tend to be younger: 36 percent of Gen Yers (between the ages of 20 and 31) are Smartphonatics, as are nearly one-third of Gen Xers (ages 32 to 46). The number drops significantly among both Baby Boomers (age s47-65) at 18 percent and Seniors (66+) at six percent.