Skip to content

TechRepublic

  • Top Products Lists
  • AI
  • Developer
  • Payroll
  • Security
  • Project Management
  • TechRepublic Academy
  • Innovation
  • Cheat Sheets
  • Big Data
  • Tech Jobs
  • TechRepublic Premium
  • Top Products Lists
  • AI
  • Developer
  • Payroll
  • Security
  • Project Management
  • TechRepublic Academy
  • Innovation
  • Cheat Sheets
  • Big Data
  • Tech Jobs
  • See All Topics
  • Sponsored
  • Newsletters
  • Forums
  • Resource Library
TechRepublic Premium
Join / Sign In
Mobility

Barclays Pingit: Money goes mobile

By Nick Heath February 15, 2012, 10:38 PM PST

Image
1
of 5

Barclays_Pingit.jpg
Barclays_Pingit.jpg
Barclays Pingit: Money goes mobile

nt 

n

ntThe cashless society moved one step closer today with the launch of an app to that allows smartphone users to send money from their handset.

n

nt 

n

ntThe Pingit app, released by Barclays bank is an app for iPhone, Android and BlackBerry handsets, that allows users to link their mobile phone number to their bank account and make payments to anyone who owns a mobile phone in the UK.

n

nt 

n

ntInitially only Barclays customers will be able to make payments with the app but all UK banking customers will be able to make payments from early March.

n

nt 

n

ntPhoto: Barclays
Barclays Pingit: Money goes mobile

ntWhile other mobile money transfer apps already exist – such as the PayPal app – Pingit users are only required to have a UK bank account and UK registered mobile phone. But the system still requires the person making the payment to own a smartphone, in contrast to a more accessible electronic payment scheme, like the M-Pesa system used in Kenya where any mobile phone can make a payment.

n

nt

ntt 

nt

nttThe use of phones as u201ddigital walletsu201d is already common practice in Japan, where widespread deployment of electronic readers allow people to pay for goods or transport using NFC-enabled phones or cards.

nt

ntt 

nt

nttThe practice of paying using a mobile is forecast to take off globally over the next two years, with analyst house Juniper Research predicting that global transactions will rise to $50bn by 2014, double the worth of transactions in 2011.

nt

ntt 

n

n

ntPhoto: Barclays

n

nt 
Barclays Pingit: Money goes mobile

ntBarclays is suggesting a range of uses for Pingit such as splitting a bill in a restaurant or making payments to small traders who can’t handle card transactions.

n

nt 

n

ntPayments of up to u00a3300 a day can be made using Pingit, with the money moved between the two accounts using the Faster Payments service in as little as 30 seconds.

n

nt 

n

ntPhoto: Barclays
Barclays Pingit: Money goes mobile

ntAfter downloading the app Pingit customers must register to link their phone to their bank account. Once registered, making a payment using Pingit requires the user to enter the phone number of the person they want to make the payment to, enter the amount they want to pay and any message and hit send.

n

ntAnyone with a  UK-registered mobile phone and a UK bank account can receive a Pingit payment. Non-Pingit users can register to receive a payment via Pingit through the Barclays website, and will receive a text message confirming the payment.

n

nt 

n

ntPhoto: Barclays
Barclays Pingit: Money goes mobile

nt 

n

nt 

n

ntThe app is protected by a five digit pass code in order to prevent someone using Pingit to make payments if a smartphone is lost.

n

nt 

n

ntPhoto: Barclays

n

nt 
  • Mobility
  • Account Information

    Share with Your Friends

    Barclays Pingit: Money goes mobile

    Your email has been sent

Share: Barclays Pingit: Money goes mobile
Image of Nick Heath
By Nick Heath
Nick Heath is a computer science student and was formerly a journalist at TechRepublic and ZDNet.
  • Account Information

    Contact Nick Heath

    Your message has been sent

  • |
  • See all of Nick's content

TechRepublic Premium

  • TechRepublic Premium

    Mental Health Policy

    Poor mental health can affect work performance in the form of burnout, absenteeism, turnover, workplace violence and substance abuse. On the other hand, when workers have good mental health, they are better able to cope with the stresses of life, realize their own abilities, learn and work well and contribute actively to their communities. The ...

    Downloads
    Published:  September 25, 2023, 4:00 PM EDT Modified:  September 26, 2023, 8:09 AM EDT Read More See more TechRepublic Premium articles
  • TechRepublic Premium

    IT Data Center Green Energy Policy

    As worldwide energy needs and concerns about climate change continue to increase, environmentally responsible business practices are critical for the successful future of a company and the markets in which it operates. This IT Data Center Green Energy Policy, from TechRepublic Premium, is intended to meet green standards for IT data center operations, which includes ...

    Downloads
    Published:  September 25, 2023, 4:00 PM EDT Modified:  September 26, 2023, 10:00 AM EDT Read More See more TechRepublic Premium articles
  • TechRepublic Premium

    Quick Glossary: Cloud Platform Services

    For many businesses, cloud services have become the de facto standard for quickly developing and deploying networks, applications and other technological infrastructures. This quick glossary of common cloud platform terms from TechRepublic Premium will help you get a handle on the vocabulary, so you can understand how these services may affect your business. From the ...

    Published:  September 25, 2023, 4:00 PM EDT Modified:  September 26, 2023, 9:00 AM EDT Read More See more TechRepublic Premium articles
  • TechRepublic Premium

    Building a Practical Chart of Accounts: Two Sample Documents

    No matter what product is to be sold or what service is to be offered, starting and operating a small business takes courage, fortitude and lots of planning. One of the first, and also one of the most serious, accounting mistakes small businesses to make is not creating a cogent, coherent and practical chart of ...

    Published:  September 25, 2023, 4:00 PM EDT Modified:  September 26, 2023, 9:00 AM EDT Read More See more TechRepublic Premium articles

Services

  • About Us
  • Newsletters
  • RSS Feeds
  • Site Map
  • Site Help & Feedback
  • FAQ
  • Advertise
  • Do Not Sell My Information
  • Careers

Explore

  • Downloads
  • TechRepublic Forums
  • Meet the Team
  • TechRepublic Academy
  • TechRepublic Premium
  • Resource Library
  • Photos
  • Videos
  • TechRepublic
  • TechRepublic on Twitter
  • TechRepublic on Facebook
  • TechRepublic on LinkedIn
  • TechRepublic on Flipboard
© 2023 TechnologyAdvice. All rights reserved.
  • Privacy Policy
  • Terms of Use
  • Property of TechnologyAdvice