UK – Barclay’s has just launched Pingit, the first mobile app in Europe to allow customers to make and receive payments using just their mobile phone numbers. The service is free, and eventually anyone with any UK bank account and UK smartphone will be able to use it.
The app is expected to be particularly popular for making payments to friends, family and small businesses.
Antony Jenkins, chief executive, Barclays Retail and Business Banking, suggests that the perennial hassle of friends splitting the cost of dinner, or of parents sending money to their children at university, could be a thing of the past. ‘Barclays Pingit could revolutionise the way people send and receive money… it’s free, quick, secure and easy to use.’
Ross Sleight, chief strategy officer at mobile specialist agency Somo, agrees that making monetary transactions easier, quicker and simpler is exactly what consumers want. ‘[Pingit] demonstrates meeting a clear user demand.’
In a time when bank and consumer relations sits at an all-time low, the Pingit app shows an effort on Barclay’s part to be alert to consumer needs. The app also responds to a wider market trend: that banks must now compete with online innovators such as PayPal for mobile banking commerce, and offer what most consumers want: ease, speed and efficiency.
For more on how smart brands are making the lives of consumers easier and more friction-free, read our Intuitive Futures macrotrend.