Bookmark this page

Mobile phone app could lessen reliance on cash

Fri 17 Feb, 2012 // Firstnumber Team
The Pingit app allows users to transfer money using their phone

New smartphone app, Pingit, unveiled by Barclays bank this week could make cash payments a far less regular part of our lives. The app, available to download for free, lets users transfer money to anyone with a UK current account and mobile number, without sharing bank details.

The process of transferring cash using Pingit has been compared to sending a text. "For friends splitting the cost of dinner, repaying a borrowed £10 or people sending money to a son or daughter at university, it's free, quick, convenient, secure and easy to use," Antony Jenkins, chief executive of Barclays retail and business banking, stated on the launch.

Security matters have been discussed with people expressing fears over how safe the app is. Its creators claim safety has been considered, and no one can use a Pingit account without first entering a five-digit pass code. Details can also be erased from the phone if it’s lost or stolen.

While currently only available for individual use, there are plans to develop the scheme to allow people to pay for items, settle bills, use it for business purposes and make donations. Soon, customers of other UK banks will also be able to benefit from the convenient app.

To use Pingit, all you need is a BlackBerry, iPhone or any phone running on the Android system. Payments are made by keying in the recipient’s phone number, adding the transfer amount and pressing send. Money is transferred instantly, provided the other person is also a Pingit user.

Search Firstnumber
Stay up to Date
Latest From The Blog

    Students Increasingly ‘Addicted’ to Their Mobile Phones, Warns Study

    A recent study carried out by researchers from Baylor University found that female college students spent upwards of ten hours a day on their phones. The study also showed that 60% of students admitting to being addicted to the technology. "As cell phone functions increase, addictions to this seemingly indispensable ...

User Testimonials
Firstnumber lets me make cheaper calls to my good friends in Australia.
Firstnumber is very clear and it's easy to find the country you're looking for.
The prices are very, very good. Thank you firstnumber!
Firstnumber is straightforward and easy to use.
Firstnumber halves my phone bill every month.
I love firstnumber! I used the service to call friends in Thailand.
I couldn't believe that all those hours of firstnumber call time still cost under £10!