Barclays, a London-based financial services company, in a recent press release statement, announced that it’ll be bringing the “bPay” into the “Pingit”, combining the two platforms to further its mobile payment brand.
As per a Barclays spokesperson, currently Pingit, which was first launched in 2012, has a user base of about 3.6 million, and bPay, which was launched in 2014, has users “in the high tens of thousands”. The company, with two separate apps, and stiff competition from rivals like Apple and Goldman Sachs, decided to end the bPay app and finally combining the bPay and Pingit. Furthermore, to sweeten this deal the company will also be introducing wearable payment devices to Pingit in May 2019, along with some added new features to the Pingit. For instance, the new Pingit version will enable users to segment their account into “jars”, thus allowing them to allocate or set aside money for certain specific tasks such as holiday planning, or a kid’s pocket money.
Additionally, the company also plans to offer Pingit users an option to link a debit card to their account, giving them another means to transact. Barclays plans to make Pingit as appealing as possible, allowing users to send or receive money from their friends, family, or loved ones in over 40 countries, without any transaction fee, all they need is a mobile number, and they can pay directly using the messaging app.