20 April 2014

Beyond TEDIPAY

Alexander Peschkoff - TEDIPAY

99 | posts 349,603 | views 392 | comments

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Barclays PingIt: what's next?

13 June 2012  |  4459 views  |  0

Cardless ATM withdrawals.

Now that RBS/NatWest stole the thunder and even such non-bank companies as Ukash offer cardless ATM withdrawals, Barclays has to catch up. Banks have the luxury of being able to add new functions and services to their own ATMs without getting the LINK network involved. It shouldn't take Barclays long to integrate such a "cardless cash withdrawal" function into their ATM architecture (perhaps they can even re-purpose NCR's barcode-based solution).

The "rails" are already in place: Barclays can create an internal "master cash" account, link it to PingIt and off you go - PingIt your friend £20 via "cash only" option; Barclays draws £20 from your Barclays account, adds that money to the "master cash" account and sends your friend a code that allows to withdraw £20 from that "master cash" account via any Barclays ATM. That would place Barclays two steps ahead of its rivals - RBS/NatWest only provides cardless ATM service to its own customers, whilst PingIt could offer it to anybody.

Barclays could also extend PingIt platform even further to compete with companies like Monitise - in fact, PingIt is already open to business customers who need a cost-effective and fast way to receive funds from consumers.

[Disclosure: we, at TEDIPAY, are looking at using PingIt for that purpose.]

TagsMobile & onlinePayments

Comments: (1)

Alexander Peschkoff - TEDIPAY - London | 15 June, 2012, 17:38

It seems that RBS/NW can "extend" its cardless ATM service to non-RBS customers, hence the "UK-first" opportunity is no longer there for Barclays. They'll need to look beyond that for true innovation.

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Alexander

Colonic irrigation for payments

04 April 2014  |  1132 views  |  0  |  Recommends 0 TagsMobile & onlineInnovationGroupInnovation in Financial Services

What Steve Jobs knew back in 1984 and why that matters today

10 March 2014  |  1279 views  |  1  |  Recommends 0 TagsPaymentsInnovationGroupInnovation in Financial Services

Bitcoin's problem No.1

10 February 2014  |  1731 views  |  0  |  Recommends 0 TagsMobile & onlineInnovationGroupInnovation in Financial Services

Bitcoin vs real life

29 January 2014  |  2797 views  |  6  |  Recommends 2 TagsVirtual currencyPaymentsGroupInnovation in Financial Services

How Zapp can beat Visa in its own game

15 January 2014  |  3010 views  |  0  |  Recommends 0 TagsMobile & onlinePaymentsGroupInnovation in Financial Services
name

Alexander Peschkoff

job title

CEO

company name

TEDIPAY

member since

2012

location

London

Summary profile See full profile »
I am the co-founder and CEO of TEDIPAY, the company that is bringing to the market a game-changin...

Alexander's expertise

What Alexander reads
Alexander writes about

Who is commenting on Alexander's posts

Bo Harald
Martin cox
Henry Young
Matt Scott
Retired Member
Andrew Smith
Daniel Smith
Brett King