|Product type||Mobile payments|
Pingit, formerly Barclays Pingit, is a system for the mobile transfer of money in the United Kingdom. It was launched by Barclays in February 2012 and was initially only available for use by Barclays current account holders, who were over the age of 18, for the sending and receiving of payments. This was later extended to all UK current account holders and the age limit was dropped to 16. The application used for Pingit is currently available on iOS and Android.
The latest version of the app supports customers aged over 16 with a personal current banking account with any UK bank, and UK small businesses that bank with Barclays.
There is also an option to receive payments on the Barclays website, which is open to all app users and also to UK small businesses who bank elsewhere and Barclays corporate customers.
Money transfer is made to the account associated with the phone number rather than the app installed on that phone, meaning all phones rather than just smartphones with the app installed would be eligible to receive payments.
The Pingit service works on the Faster Payment Scheme, so payments are effectively instantaneous, even between Barclays and non Barclays customers, and they are free. Pingit is compatible with the Paym mobile payment system which works across other UK banks.
In July 2015, Barclays teamed up with Zapp to allow Pingit to be used at point of sale terminals in shops, and for internet transactions where the Pay by Bank app symbol is displayed. They expect to launch in October.
- Moore, Michael (7 July 2015). "Zapp Takes The Fight To Apple Pay With Barclays Pingit Deal". Tech Week Europe. Retrieved 7 September 2015.
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