10 February 2016

Homeowner uses Barclays Pingit to put down £23k deposit

19 February 2014  |  4673 views  |  0 Pingit house

Barclays Pingit is being used by Savills Auctions to sell houses, with one homebuyer already putting down a £23,000 deposit via the mobile app.

Launched a year ago as a person-to-person payments app, Pingit has since widened its appeal, gaining traction among businesses thanks to the introduction of QR reading functionality.

Property auctioneer Savills Auction has become the latest to take advantage of this. Customers scan a QR code from within the Pingit app, which then shows the full transaction details. Once the customer selects the 'OK' option the money is transferred in seconds.

In what is thought to be a world's first, the service has already been used by a homeowner who was able to put down a £23,000 deposit on a new home in Mitcham, South London.

Darren Foulds, product director, mobile banking and Pingit, Barclays, says: "For businesses large or small, Pingit enables payments to be accepted through a mobile app. For consumers it offers a totally secure way of making payments that are at the same time quick - and on a device that almost everyone in the UK carries with them on a permanent basis."

Sam Winser, associate director, Savills Auctions, adds: "Creating a service that allows a buyer to put down a deposit and transfer the money in a matter of seconds, such as Pingit, is really making a big difference to our speed and efficiency, allowing us to do more business, more quickly."

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