£23k transferred with a five digit PIN…
For two years, Barclays has been getting a lots of praise for its Pingit app, which lets bank users pay people just by sending a sum to their phone number.
Neither side needs to know the other’s bank details. To date there have been 2.5m downloads.
The bank really wants businesses to get into the idea too, and has launched Buy It to encourage them to do so via QR codes etc.
But fund transfer from person to business is also gaining ground.
Today, Barclays confirmed a householder paid a deposit on a three bedroom house in Mitcham in London via the app.