February 16th, 2012

Barclays launch Pingit mobile pay­ment app

Barclays Pingit Mobile PaymentBrit­ish bank Barclays has launched Pingit, a smart­phone app that allows people to send money to fam­ily, friends and small busi­nesses using just a mobile number.
At first, only Barclays cus­tom­ers will be able to send money from the app, but people with accounts at other banks can use the app to receive it, with plans to let them send too in the near future.
The Pingit app, avail­able for iPhone, Black­Berry and Android smart­phones, allows accounts to be asso­ci­ated with mobile num­bers and amounts between £1 and £300 to be trans­ferred in as little as 30 seconds using the Faster Pay­ments service.
“Barclays Pingit could revolu­tion­ise the way people send and receive money. For friends split­ting the cost of din­ner, repay­ing a bor­rowed £10 or people send­ing money to a son or daugh­ter at uni­ver­sity, it’s free, quick, con­veni­ent, secure, and easy to use. You can send and receive money in seconds, without hav­ing to enter account details.” Ant­ony Jen­kins, chief exec­ut­ive, Barclays

If the app sounds famil­iar, it’s likely because the eBay-​owned PayPal pay­ment ser­vice offers some­thing sim­ilar. When installed, the PayPal smart­phone app allows users to send or receive money using email addresses or mobile phone numbers.

As with PayPal, those wish­ing to receive money via Pingit must sign up for an account, but they won’t need a Barclays account in order to do so. The bank has also prom­ised to open the ser­vice up to all UK bank accounts for both send­ing and receiv­ing money by early March.

The app is avail­able now from Apple’s, BlackBerry’s and Android’s respect­ive app stores.

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