Barclays Pingit is a new money-sending service launched by one of UK’s largest bank. Using it, some 1.9 million Barclays’ customers are able to make instant money transfers to anyone with a UK-based mobile phone and a current account with any UK bank. And that’s like a start with Barclays promising to extend Pingit to all UK banking customers by early March.
Available as a free download, the application works on the iPhone, Android and BlackBerry smartphones and allows users to both send and receive cash from their smartphone. However, any mobile phone user whether he/she have Barclays Pingit installed can receive the cash.
According to Antony Jenkins (chief executive of Barclays retail and business banking), Barclays’ Pingit could “revolutionize the way people send and receive money,” envisioning an array of uses such as splitting a bill in a restaurant, repaying a borrowed 10 GBP or people sending money to a son or daughter at university.
At the moment, the cash transfers are limited to 300 GBP and I guess that’s about the right figure to make it safe for the mass-market to adopt Pingit.
Barclays Pingit (FREE) [iTunes link] [Android Market link] [BlackBerry App World]


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