A new service called ‘UK banking first’ will be launched on March 10th, and will enable customers of Barclays Bank to make payments to other people and small businesses using their Twitter handle. Barclays currently has the Pingit service, which is an app that allows people to send and receive payments using just their mobile numbers, and not have to worry about account numbers and sort codes, streamlining the banking process.
Pingit, which was launched in 2012, can be used not only by Barclays customers, but also by people who bank with other companies. This service will be expanding to allow users to link their Twitter handle to their Pingit profile, and again is not limited to just Barclays customers. This means that they could potentially have 13.5 million users, as this is the number of Twitter users within the UK.
Currently, Pingit has been downloaded 3.7 million times, and over £1 billion has been transferred via the app. 57,000 businesses are also signed on to Pingit, and the new Twitter linking service will make it easier for their customers to pay them.
Barclays have always been at the forefront when it comes to changing the face of banking, and last year unveiled their bPay wristband, allowing their customers to pay for goods with just a flick of their wrist. They have also been trialling contactless payment gloves, allowing users to make payments by touching the back of their hand to the reader of the till, similar to how contactless card payments are currently made.