Mobile banking usage in Luxembourg 2016-2018

In 2018, smartphones were the preferred device for bank customers in Luxembourg to check their bank balance. Smartphones outperformed tablets, computers and laptops, which together reached a penetration of 26 percent that year. However, the Grand Duchy was still relatively new to mobile banking as only one out of three consumers made use of it. One of the reasons why mobile banking operations were not popular in 2016 was the respondents believed they did not provide any benefits.

How many people have a smartphone in Luxembourg?

Smartphones are relatively widespread in Luxembourg, reaching a penetration rate of 93 percent in 2019. This was similar to the Netherlands and slightly above Belgium. Due to the small size of the Grand Duchy, there are no exact numbers of how many smartphone users there are in the country. Luxembourg did have a total of roughly 580,000 Internet users in 2019. This number represented roughly 98 percent of the population in the Grand Duchy, a penetration rate slightly above the smartphone penetration rate.

High utilization of digital payments

Despite their reservations on mobile banking, Luxembourg consumers are quite familiar with digital finance. Transactions via debit or credit cards, for example, accounted for over 60 percent of all payments in 2018, whereas the number of resident card payments per capita grew to over 280 per person in the same year.