28 June 2017
Visit cib.db.com

Homeowner uses Barclays Pingit to put down £23k deposit

19 February 2014  |  5405 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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Barclays revamps Pingit to let big firms send payments to customers

Barclays revamps Pingit to let big firms send payments to customers

19 November 2013  |  6914 views  |  0 comments | 10 tweets | 10 linkedin
Children in Need adds Pingit donation option

Children in Need adds Pingit donation option

15 November 2013  |  4935 views  |  0 comments | 2 tweets | 4 linkedin
Barclays revamps Pingit for mobile commerce play

Barclays revamps Pingit for mobile commerce play

16 September 2013  |  9564 views  |  0 comments | 14 tweets | 7 linkedin
Severn Trent Water lets customers pay with Barclays Pingit

Severn Trent Water lets customers pay with Barclays Pingit

05 August 2013  |  6169 views  |  0 comments | 7 tweets | 5 linkedin
Barclays extends mobile payments to retailers with Buyit

Barclays extends mobile payments to retailers with Buyit

19 June 2013  |  15102 views  |  4 comments | 25 tweets | 17 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the report nowvisit wavestone-advisors.co.ukvisit www.www.fisglobal.com

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9005 views comments | 19 tweets | 34 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
8490 views comments | 9 tweets | 6 linkedin
hands typing furiouslyArtificial Intelligence- Computer to IOT
8411 views 0 | 4 tweets | 2 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7404 views 0 | 8 tweets | 7 linkedin
Asia still top dog for payments innovation but Europe gaining groundAsia still top dog for payments innovation...
7332 views comments | 10 tweets | 9 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job