Pingit - now pinging money around from phone to phone
But if we wanted to, we could do it. That’s because Barclays bank have unfurled a new app, called Pinigit, that allows their current account holders to send and receive cash using only their mobile phones. You can use it to send cash up to the aforementioned sum of £300 to anyone as long as you have their mobile number.
How doth it worketh? Simpleth - users call the recipient's mobile number via the Pingit app, key in an amount between £1 and £300, and hit send. The money is moved between the two current accounts using the Faster Payments service taking as little as 30 seconds.
Barclays say that it will be useful in circumstances such as splitting a restaurant bill or paying for lapdances. Sorry, that should have been paying the window cleaner or other small tradesmen. Pingit is available for iPhone, Blackberry and Android-powered phones. Impressively, they say that although non-Barclays customers can only receive payments at the moment, they’ll shortly be able to send them as well, meaning that Pingit could become the standard app for this sort of thing.