07 July 2015
Barclays Pingit set to be first bank app live with Zapp
Barclays Pingit users will be first to access Zapp’s ‘Pay by Bank app’ service from October 2015
Available on both iPhone and Android
Makes Pay by Bank app the UK’s first total market mobile payment solution
Easier, faster, secure mobile payments to retailers online, with store sales to follow
Large corporates now accepting Pingit payments will be offered option to additionally accept ‘Pay by Bank app’ payments
Barclays join HSBC, first direct, Nationwide, Santander and Metro Bank, which have already announced support for Zapp
Zapp today announces that Barclays has joined the financial institutions, retailers, billers and payment providers offering ‘Pay by Bank app’ mobile payments to consumers.
Customers choosing ‘Pay by Bank app’ will be offered the market-leading Barclays Pingit app as one way to pay, and millions of Pingit customers will be able to make mobile payments at major retailers across the country from launch.
Because Pingit is available for anyone to download as an app, whether or not they bank with Barclays, all consumers will be able to make Pay by Bank app payments from October 2015, as long as they have a UK bank or building society account and a smartphone with a UK-registered number.
The addition of payments via the Pingit app makes Zapp’s Pay by Bank app the UK’s first total market mobile payment solution, available to all consumers regardless of who they bank with, or which smartphone brand they use.
Pay by Bank app puts consumers firmly in control of their finances by letting them make near real time payments and choose which account they pay from.
Barclays plans to extend ‘Pay by Bank app’ to Corporate Banking clients, providing even more ways to increase sales from mobile phones and tablets.
Pay by Bank app transactions are protected by a consumer’s existing bank app security. And because the payments use secure digital “tokens”, customers never reveal any of their financial details (including bank account details) to merchants when they are shopping. All Pay by Bank app payments offer similar protections as exist today for debit card payments, ensuring that in the event of goods not being delivered or an issue with the payment the consumer will be covered.
The addition of ‘Pay by Bank app’ to the Pingit payments portfolio means that Barclays Corporate Banking will provide the new service to corporates operating in retail , transport, utilities, Local Authorities and financial services.In doing so Barclays joins payment innovators WorldPay, Elavon, Optimal Payments, Realex and SagePay in being able to offer UK merchants the opportunity to take advantage of Pay by Bank app payments.
Sainsbury’s, Asda, House of Fraser, Thomas Cook and Shop Direct are among the major British retail brands that have already announced their support for Zapp as a way to deliver secure, convenient mobile payments to their customers.
Peter Keenan, Chief Executive of Zapp, commented, “We’re delighted to be able to announce that Pay by Bank app will now include Barclays Pingit. This means every UK consumer will be able to make Pay by Bank app mobile payments from October that are easier and more secure. This is a shining example of the financial and retail communities working together for the benefit of UK consumers. Having Barclays come on board – with their huge scale and enviable reputation for innovation, coupled with their extensive corporate client base – reaffirms that Barclays and Zapp are at the cutting edge of Fintech, innovation and collaboration.”
Darren Foulds, Managing Director of Mobile Payments, Barclays said, “We have been innovating in the mobile space for many years and we’re delighted to announce another pioneering move: Pingit users will be the first in the UK to take advantage of Pay by Bank app payments. Our customers have taken to mobile banking in their millions. We’re now able to build on the success of Pingit and meet the growing demand from our customers to use their mobiles to pay for goods and services swiftly and securely. We expect to see rapid take up of Pay by Bank app payments.”
Barclays has a long track record of innovation in mobile payments. In February 2012 it launched its mobile banking app as well as the UK’s first person-to-person mobile payment app, Pingit, letting Barclays and non-Barclays customers send money to friends and family, pay bills and donate to charity. These apps have been downloaded more than 5 million times, and are being accessed millions of times each week, with more than £4bn in payments and transfers.
Zapp is the UK’s leading mobile payment innovator, backed by many of the UK’s banks. Zapp’s technology lets consumers make near real-time payments on their phones and tablets, whenever they see the Pay by Bank app paymark. Zapp is part of the VocaLink group of companies. VocaLink is the UK payments provider, in 2014 VocaLink processed over 10 billion UK payments with a value of over £6 trillion. For more information on Zapp visit: www.zapp.co.uk. For more information on VocaLink visit: www.vocalink.com.