Barclays Gets Into the Mobile Payments Game

Barclays has launched a mobile checkout feature that allows users to make purchases from a mobile web or checkout page, as well as a "buy" feature that allows consumers to purchase from as advertisement via QR code for their Barclays Pingit mobile application.

The mobile checkout feature allows consumers to pay without entering a large amount of personal details often difficult to type in on a mobile device, the bank said.

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For the “buy it” feature, the mobile application displays the product information -- like price, merchant and delivery information and stock levels -- after the consumer scans the QR code on the advertisement. After the customer confirms the transaction, they receive a text and email as proof of purchase.

“For mobile enabled businesses, this is a great way to increase sales conversion by reducing payment input errors and increased consumer assurance at checkout,” said Mike Walters, head of UP corporate payments at Barclays, in a statement. “For new players to the market, it is an easy, low-risk way to enter into mobile commerce.”

The Pingit application works on Android 2.2, IOS 4.2 and Blackberry OS 4.6 and their respective updated versions.

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Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio