Barclays’ Pingit

Barclays strides ahead of the mobile commerce game with the launch of its new  app Pingit, which enables users to transfer up to £300 into an account using their smartphone. In a short time Pingit will be available for any banking customer in the UK with a current account and mobile number.

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Practically, how could it be used?

We’ve all experienced the occasion when, sweating and flustered, you realise you’ve forgotten your wallet. With Pingit your friend can take out cash to cover you and within minutes, using mobile money transfer, you can send the money back to their bank account. 

With 20,000 downloads in just two days, Barclays is undoubtedly on to something. The app has massive potential to disrupt the traditional model of money transfer -  not just between friends and family, but also for small business owners who will no longer be tied to using credit card machines for payments.

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