Barclays Launches Service for Sending Money by Mobile Phone Number
Barclays has launched a person-to-person service for sending and receiving money using mobile phone numbers. Barclays Pingit allows users to receive and send money, for free, to anyone with a UK current account and UK mobile phone number, simply by using that mobile number without the need to share bank details.
The Barclays Pingit service will be available to current account customers of all UK banks and building societies, not just those with Barclays current accounts. At launch, only Barclays current account customers will be able to send money via the app, but all current account customers (UK residents and over 18) will be able to register online to receive money. The app will be available to all by early march.
Antony Jenkins, chief executive officer (CEO), Barclays Retail and Business Banking, said: “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.”