Barclays Pingit, the service to send and receive money using mobile phone has been launched and the application can be downloaded by the current account customers to transfer money provided they have a UK-based mobile phone and a current account with any bank. The application is free and enables the customer to make payments upto £5,000 in a day with minimum of £1 payment.
Barclays said, “The payments are as safe as any other banking transaction and money is sent using Faster Payments Service. Also the application is password protected using a five-digit code, which is set by the user. There is no need to share any banking details while payment is done by the user”.
The application as visible would be very beneficial for the students who has to share the money many times in a day while they are going for outing or they are going to any restaurant and has to divide money after payments. The application is available on iOS, Android and Blackberry phones. The users can register online also to receive payments.
Barclays Chief Executive is delighted to announce that it is the first service of its kind and will help the customers of Barclays and the current account holders of other banks as well to manage their money more effectively and a free, quick and convenient way to make payments.