Pingit

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Pingit
Pingit logo.png
Product typeMobile payments
OwnerBarclays
CountryUnited Kingdom
IntroducedFebruary 2012
DiscontinuedJune 2021
Websitewww.pingit.com

Pingit, formerly Barclays Pingit, was 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.[1] The applications used for Pingit up until its closure were iOS and Android.

The latest version of the app supported customers aged over 16 with a personal current banking account with any UK bank, and UK small businesses that bank with Barclays.

There was also an option to receive payments on the Barclays website, which was open to all app users and also to UK small businesses who banked elsewhere and Barclays corporate customers.

Money transfer was 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 were eligible to receive payments.

The Pingit service worked on the Faster Payments Service, so payments were effectively instantaneous, even between Barclays and non-Barclays customers, and they were free. Pingit was 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.[2]

In March 2019, Barclays merged its BPay wearable contactless payments product with the Pingit money transfer app.[3]

On 19 February 2021, Barclays announced that it would be closing Pingit down later in 2021 and subsequently on 12 April 2021, Barclays confirmed that Pingit would close on 30 June 2021.

See also[edit]

References[edit]

  1. ^ Brignall, Miles (16 February 2012). "Barclays launches Pingit money-sending service for smartphones". The Guardian. Retrieved 14 December 2019.
  2. ^ Moore, Michael (7 July 2015). "Zapp Takes The Fight To Apple Pay With Barclays Pingit Deal". Tech Week Europe. Retrieved 7 September 2015.
  3. ^ "Barclays to merge BPay and Pingit apps". Finextra Research. 5 March 2019. Retrieved 4 February 2021.

External links[edit]