Barclays launches pay-by-Twitter in UK banking first

Published on 03 March 2015 by in Latest News

Barclays has revealed that customers using the bank’s Pingit app will be able to exchange payments using just their Twitter handles by 10th March. The service aims to allow Twitter users the ability to make swift, secure payments to each other and small businesses without the need to provide account details or mobile phone numbers via their iOS or Android devices.

iStock 000017221776 Small 300x199 Barclays launches pay by Twitter in UK banking firstNot only exclusive to Barclays, the service is also set to be available to all Pingit app customers, meaning that it can potentially be used by Twitters 13.5 million strong community. This new way of convenient payments means that transactions can be completed in three separate clicks to friends, family and small businesses with a limit of £1,500 per day.

Following the success of Paym, a cross-industry mobile payments scheme which enables users to send payments via text, recently said that nearly two million people have signed up to the initiative. As a result, Barclaycard unveiled its bPay wristband, which allows customers to pay with a wave of their wrist, and also trialled contactless gloves during the busy Christmas period to create an easier experience for customers.

iStock 000022980180 Small 300x199 Barclays launches pay by Twitter in UK banking firstBarclays has reported that 80% of the UK’s Twitter users now access the social network through their mobiles regularly. Adding the ability to pay people or a small business using just a Twitter handle “brings together a social and digital experience to create a new step forward for mobile payments in the UK”, said Darren Foulds, director of Barclays Mobile Banking and Pingit. “We are always on the lookout for new and exciting ways to make people’s lives easier and customer feedback plays a big part in how we chose to further develop our apps.”

Amid security concerns about making payments via mobile phones and the internet, Barclays has stressed that all transactions would be carried out within the Pingit app and not Twitter which means the usual safety and security measures for regular Pingit payments apply.

As technology evolves and initial limitations are overcome, numero believe there are huge opportunities to enhance the customer experience, especially for banking. Due to its convenience it seems that payments via Twitter may be the next natural step for the banking sector.

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