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Friday | December 15, 2017
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Money-sending mobile app launched

Money-sending mobile app launched

Take two scenarios where mobile technology should be able to make our lives easier. A migrant worker in Kenya wants to send your family some money without having to get on a bus and travel for days. A group of young professionals in London goes out for a meal with friends, and when one person pays, the others need to settle up with him.

In the first case, the money transfer system M-Pesa has been allowing people to transfer cash across the country for years now, proving hugely popular. In the second, it only becomes possible today for anyone with a smartphone to send cash to their friends and see it transferred instantly.

The Barclays Pingit system uses a smartphone app to permit person-to-person cash transfers of up to £300. Users who have an account with Barclays – and from March anyone with a UK bank account – can download the app, link it to their phone number, and then send cash to anybody who has linked their mobile number to their account.

This looks like a big step forwards in the long delayed mobile money revolution. When it comes to turning the phone into a wallet, this country – and much of Europe – is in the slow lane compared to some countries in the developing world.

Read More/Source: BBC News

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