Barclays launches mobile phone payment app

Barclays' new Pingit mobile phone app allows UK current account holders to send money simply by knowing the recipient's mobile phone number.

The app allows users to receive and send money to anyone with a UK current account and UK mobile phone number without the need to share bank details.

The free app connects consumers' current accounts to their phone numbers.

This allows them to transfer or receive money without having to disclose their bank details, as those who wish to send money only need the recipient's phone number .

All UK bank customers can use

At launch, only Barclays current account customers will be able to send money via the app, but all UK current account customers will be able to register online to receive money.

And in March the Barclays Pingit service will be available to current account customers of all UK banks and building societies.

The app is available to customers with an iPhone, a Blackberry, or an Android smartphone.

'Revolutionary'

Barclays retail and business banking chief executive Antony Jenkins called the app "revolutionary".

He said: "For friends splitting the cost of dinner, repaying a borrowed £10 or people sending money to a son or daughter at university, it's free, quick, convenient, secure, and easy to use."