Barclays launches mobile payment transfer app
|17 Feb 2012 10:29 GMT||Back|
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Barclays has launched Pingit, a free mobile app which will allows its customers to send money by keying in the recipient’s mobile number.
The app, available to download for iPhone, Android and BlackBerry handsets, allows users to send money without disclosing their bank account number. Instead, transfers are protected by a five-digit security code set by the user.
People don’t need to download the Pingit app to receive money but they do need to register for Pingit by giving Barclays their mobile number.
Barclays claims transfers will be as safe as normal internet banking ones. It expects the service to be most popular among friends and family sending money, as well as sole traders receiving payment for services.
Discussing the marketing campaign behind the app, Guy Herrington, interim marketing director for Barclays UK retail and business banking, said: “Barclays Pingit is a fantastic proposition that, by its nature, lends itself to the social and digital spaces driving word-of-mouth recommendations and viral growth.”
Industry analysts believe Barclays’ entry into the mobile payment market will be followed by the introduction of similar payment solutions from other banks, as well as retailers and big brands.