Barclays to close Pingit after 10 years’ service
Long-serving payments app to be shut down by major UK bank.
Long-serving payments app to be shut down by major UK bank.
bPay struggled to get users in the cutthroat world of mobile payments.
Barclays and BlackBerry are bringing BBM, the mobile instant messaging service, to Pingit money transfers in the UK. BBM users can now make mobile payments to each other using Barclays’ mobile payment app Pingit. Matthew Talbot, SVP, BBM at BlackBerry, says to “exchange money was a logical extension” of BBM’s functions. Once a user has […]
One of the most distinguishing features of the current wave of financial innovation is how the innovators are often not banks, but small fintech firms often led by former bank employees.
Less than one in ten UK consumers has used a mobile wallet, despite the widespread availability of the technology, a new study has found.
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Mobile payments specialist Zapp is expecting to sign up five of the six major UK banks within the next few weeks, following a deal with acquirer WorldPay, announced this week. However, the platform still has a long way to go to catch-up with rival Barclay’s Pingit, which has a significant head-start, having launched in February 2012.
Banks may have a poor reputation with the public, but the majority of people in the UK would be more likely to adopt mobile payment services if they are provided by a bank.
The UK Payments Council has announced that the introduction of its planned Mobile Payments Service has been pushed back until “spring 2014” – a year after its previously expected introduction, and two years after Barclays broke from the rest of the UK banks and launched its Pingit service. The delay comes despite commitments from financial […]