Pingit, formerly Barclays Pingit, was a British

mobile payment Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cas ...

s service, allowing

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

account holders to send and receive money transfers through their mobile phones. It operated from 2012 until 2021 when Barclays said that the service was no longer needed as newer payment services became popular.

History

It was launched in February 2012 and expanded in stages to include all account holders, with over 1.2 million downloads reported in its first year. The applications used for Pingit were

iOS Ios, Io or Nio (, ; ; locally Nios, Νιός) is a Greek island in the Cyclades group in the Aegean Sea. Ios is a hilly island with cliffs down to the sea on most sides. It is situated halfway between Naxos and Santorini. It is about long an ...

and Android and Blackberry. Monetary transfers were made to the account associated with the phone number, not the app itself, so that all types of phones with the app installed were eligible to receive payments. The Pingit service worked on the Faster Payments Service, so that 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 worked across other UK banks. In July 2015, Barclays teamed up with Zapp to allow Pingit to be used at

point of sale The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...

terminals in shops, and for Internet transactions where the Pay by Bank app symbol is displayed. In March 2019, Barclays merged its BPay wearable contactless payments product with the Pingit money transfer app. That August, Barclays launched an online store vending Pingit wearable payments devices, such as watches and key fobs, programmed to process Pingit mobile payments. 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.

References

External links

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The future of banking with Barclays Pingit
''Hot Topics 2014'' Mobile payments Internet properties established in 2012 Defunct financial services companies of Australia {{money-stub

History

See also

References

External links