Landmark mobile payment deal with Australian bank
Barclays has struck a deal with the Commonwealth Bank of Australia (CBA) allowing millions of customers to send near-instant payments across countries using just a mobile phone number.
In a first between the two countries, CBA and Barclays have worked to connect each of their payment apps – CBA’s CommBank app and Barclays’ Pingit – to provide a seamless, secure and simple process for moving money across continents.
Our partnership with CBA demonstrates how large institutions can and should work together to provide innovative solutions that benefit both customers, and the banking industry as a whole.
Barclays Group Chief Operating Officer
Paul Compton, Barclays Group Chief Operating Officer said: “Technology is transforming the financial services industry and fundamentally changing what our customers and clients want and need from us. Today’s announcement marks the first time our Pingit app has allowed two-way cross border payments, enabling our customers to send and receive money to and from Australia quickly, easily and securely.
“Our partnership with CBA demonstrates how large institutions can and should work together to provide innovative solutions that benefit both customers, and the banking industry as a whole.”
The commitment from the two banks demonstrates how large financial institutions can work together to deliver innovative solutions at scale, for the benefit of consumers and the industry as a whole. The Pingit/CommBank app solution will be available to retail customers in the last quarter of 2016.
Barclays Pingit links your mobile number with your bank account, and makes it quick and easy to send someone money. You don’t need to know account numbers or sort codes – just ping it from one mobile to another. All you need is a current account and a mobile phone registered in the UK, Jersey, Guernsey or Isle of Man. Then simply download the Pingit app, register and go.