M-payment: Pingit Now Open to Businesses Registers Over 700,000 Downloads
- The mobile P2P fund transfer application released in the United Kingdom by Barclays has registered more than 700,000 downloads in less than four months since its launch.
- The application, available on iOS and Android, has been downloaded more than 700,000 times and 80% of these downloads were via the App Store. It targets both Barclays’s customers and customers from other banks and provides free money transfer services.
- As regards user profiles, 37% are aged between 26 and 35, 29% between 18 and 25 and 26% are aged between 35 and 50. The average transaction amount is £75.
- The Pingit app uses a combination of an ID code and bank account: the ID can either be a mobile phone number, a QR code or even a "corporate ID" used by companies and this unique ID contains all payment details.
Source: Finextra
- The secret of the success of this app lies not only in its simplicity for Barclays customers but also in the fact that it emerged very quickly, driven by the comments of many users. The app was downloaded 120,000 times within the first week.
- This is why within less than four months it has been made available to non Barclays customers too. Those interested need to go through a relatively complex sign-up procedure but the free app is now available to all.
- It is now turning its attention to businesses by adding the "Corporate ID" and QR-code features that are particularly well adapted to commercial transactions. From here on, companies can simply create a QR-code or a "Corporate ID" that can easily be recognised, enabling customers to pay bills immediately by scanning the code on a bill or by entering the ID.