Barclays to close Pingit after 10 years’ service
Update 13/04/21: Barclays has now confirmed in an email to customers that Pingit will shut down on 30 June. After that date users will be unable to send or receive payments. Cash stored in the app will be moved to linked bank accounts. Any existing users of Pingit wearables will be refunded for their hardware.
Barclays is sunsetting its long-serving payments app Pingit, telling staff the project has “run its course”.
Barclays said the app was under “review”
According to Sifted sources, Barclays announced the closure earlier this month. A spokesperson from the bank said the app was “under review”.
For the time being, users will still be able to manage their money, but will be contacted by the bank in due course.
Pingit, launched in 2012, managed to accrue more than 1.2 million downloads in its first year of operations.
It allows customers from a range of banks to transfer their money into an account in the UK. Sifted sources indicate the app had failed to capitalise on its early innovation.
Others claimed the app’s development moved at a “glacial pace”, and that it missed a chance to become a UK version of ING’s successful spin-off Yolt.
The last update to the Pingit service occurred in August 2019, when the bank launched an accessory shop on the platform.
Pingit joins a slew of other bank-sponsored digital ventures heading to the scrap heap. These include JP Morgan’s Finn, RBS’ Bó.
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If this is true and another method is not in place then my daughters and l will bank elsewhere.
such a pity. so handy to pay at shops with fob for watchband. uggh
First the bank branch is closed then all small branches, big ones become all machines. Now pingit what is next online banking. Go on shut all the banks im going back to putting money in box under bed. ?
Pingit closing a disaster —— is there going to be a replacement ? I will be lost without it i se it every day , a great idea now down the drain , wearable device a super future thing , no need to walk about with cards . Please do something to replace .
In the hearts & minds of a generation Barclays is going to lose future trust.
This is such a handy little item! I rarely take my purse when out doing my horses etc, but it’s always attached to my keys should I need it, it’s been invaluable!
One word – GUTTED !!
I have banked with Barclays for over 60 years and found Pingit the best way for me to bank as I am disabled and do not go out. Oh Barclays, please give your customers an alternative.