Barclays Launches Money Transfer Mobile App ‘Pingit’

Global banking giant Barclays has launched “Pingit,” a smartphone application that allows customers to quickly transfer money, using only phone numbers and not bank details.

The Pingit app, available for iPhone, BlackBerry and Android smartphones, allows accounts to be associated with mobile numbers and amounts between £1 and £300 to be transferred in as little as 30 seconds using the Faster Payments service. Barclays claims that the system will find uses including splitting bills at restaurants and takeaways.

Barclays will open up the transfer service to customers of other banks “in a few weeks” allowing customers from rivals such as Lloyds TSB and HSBC to use the app.

The free to download app is available to Android, BlackBerry and iPhone users.