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Barclays to offer platform to companies to pay instantly

BarclaysBarclays has entered in a deal with Bottomline Technologies to offer UK companies a platform with which to send payments instantly to customers using their mobile phone number. Businesses from utilities to insurers will be able to make instant payments, such as refunds, to consumers directly without needing their bank account details. Barclays said that the tie-up between its Pingit app which allows account holders at any bank to ‘ping’ money to other individuals and businesses through their mobile phone number, and Bottomline, a provider of corporate payment services, is aimed at making it easy for companies to offer an instant payments service to customers. Companies and consumers must be registered with Pingit, or Paym to use the facility.

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