Barclays revamps Pingit for mobile commerce play
16 September 2013 | 9951 views | 0
Barclays has moved into m-commerce, adding 'mobile checkout' and 'buy it' features to its Pingit person-to-person payments app.
Launched early last year and built on the Faster Payments rails, the Pingit app, which lets users make immediate P2P payments using just mobile phone numbers, has proved hugely popular.
In June Finextra exclusively revealed that the bank was preparing to add a 'buy it' feature to the app in a bid to bridge the gap between advertising and sales.
Buy it lets Pingit users make purchases direct from adverts - for instance in magazines, on posters or TVs - by scanning QR codes. Once scanned, the app displays product information: price, merchant information, delivery information and stock levels.
If the user confirms, they initiate an instant purchase which can be delivered to a chosen address, and get a confirmatory SMS and e-mail.
Barclays claims that the new feature can transform adverts into a more accessible and convenient sales channel for businesses. It also increases the value of their existing assets, for example by enabling people to buy from window displays, or from unmanned display stands, 24x7.
Firms can encourage immediate sale of items with marketing incentives such as limited time offers and evaluate the effectiveness of campaigns by tracking adverts that are driving sales.
The 'mobile checkout' tool lets customers make an instant payment with a few clicks via a 'pay with Barclays Pingit' button, cutting out the need to enter personal details on small handsets.
Mike Walters, head, UK corporate payments, Barclays, says: "Mobile commerce has grown more than 250% over the last two years and it is important that businesses provide consumers with a convenient and easy payment method through this channel."