Barclays launches mobile-to-mobile money transfers

[Simon]

Barclays has launched a service for sending money from person-to-person using mobile phone numbers and a smartphone app.

According to the bank, its Pingit service allows users to receive and send money by using any registered mobile number, without the need to share bank details.

Available to and between account holders with various banks, users would need to register online, although the service will only work for Barclays account holders until March.

The bank said that online registration linked bank accounts with phone numbers and was intended as a way for friends and family to settle up accounts.

"For friends splitting the cost of dinner, repaying a borrowed £10 or people sending money to a son or daughter at university, it's free, quick, convenient, secure, and easy to use," said Antony Jenkins, chief executive of Barclays Retail and Business Banking.

The Pingit app works with handsets running Android 2.2 and above, iOS 4.2 or later and Blackberry from OS 4.6 and users can transfer between £1 and £300 at a time.

A £300 total daily send limit applies, along with a £5,000 total daily receive limit.

Read more: http://www.pcpro.co.uk/news/372835/barclays-launches-mobile-to-mobile-money-transfers

I'm not sure I'd use my phone for any banking purposes, let alone 'pinging' money about! 

[talos]

PayPal has been doing it for months