I’m no particular fan of Barclays bank, since they pissed me off in 1988 (long story), but I have to give them credit for their new smartphone app “Pingit”
It allows a smartphone user to instantly send (ping) up to £300 to somebody else. It uses a smartphone app to send the money, but anybody (even non-Barclays customers) with a regular mobile phone can receive payments.
Right now the sending service is for Barclays customers only, BUT they are rolling it out for ALL UK bank account holders in “early March” (which for those of you with no sense of todays date means within the next 4 weeks).
So imagine, you need cash because you forgot your wallet (something I have done twice this week!) and so a friend lends you £10 so you can buy your lunch. You open up the app, and 30 seconds later you have given them the £10 back. Straight into their bank account. Nice one!
This type of personal, inter-person money moving technology has been a long time coming, and it’s impressive that Barclays (of all the banks) seem to have got it sorted first. I will certainly be giving it a go just as soon as “Early March” come around.
