Barclays bank has launched a service for transferring money from customer accounts to any other account-holder in the UK, using their mobile phone details. Called Pingit, the service requires both payees and payers to download an app on their smartphone and register for the service with Barclays. Smartphones supported by the service at launch are iPhone, RIM and Android devices. The service is intended to take the place of low-value cash transactions and according to Barclays Retail and Business Banking COO Shaygan Kheradpir, is an attempt to bring ATM services into the mobile digital world. “This is a renaissance of retail banking,” he told CIO UK. “Money will be moved from one account to another in a matter of seconds. This is a cloud-based mobile peer-to-peer transfer system.” Customers must register with the service on a website, over the phone, in a branch or over one of Barclays ATM machines. Kheradpir was unspecific about how it is done, but he told CIO UK that the ATM would link with the customer’s mobile to transfer data, so that the registration process can be completed. The most likely use for the service from launch is the transfer of money between private individuals. Kheradpir used the illustration of parents sending their child studying university money remotely as a typical use for the service. No mention has been made of any other banks or retail organisations supporting the Pingit service. So far, this is a unilateral move by Barclays but the bank hopes that third parties will use build on the Pingit service with their own apps, which may open up the service to paying utilities or small-value purchases in stores. UK current account holders can register for the service at www.barclays.co.uk/pingit Related content brandpost ChatGPT and Your Organisation: How to Monitor Usage and Be More Aware of Security Risks By Hayley Salyer Jun 05, 2023 7 mins Chatbots Artificial Intelligence brandpost Who’s paying your data integration tax? Reducing your data integration tax will get you one step closer to value—let’s start today. By Sandrine Ghosh Jun 05, 2023 4 mins Data Management feature 13 essential skills for accelerating digital transformation IT leaders too often find themselves behind on business-critical transformation efforts due to gaps in the technical, leadership, and business skills necessary to execute and drive change. By Stephanie Overby Jun 05, 2023 12 mins Digital Transformation IT Skills tip 3 things CIOs must do now to accurately hit net-zero targets More than a third of the world’s largest companies are making their net-zero targets public, yet nearly all will fail to hit them if they don’t double the pace of emissions reduction by 2030. This puts leading executives, CIOs in particul By Diana Bersohn and Mauricio Bermudez-Neubauer Jun 05, 2023 5 mins CIO Accenture Emerging Technology Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe