Barclays Pingit is being used by a London estate agent to sell houses. Already one home buyer has made a £23,000 deposit via the mobile app. Launched a year ago as a person-to-person payments app. Barclays added QR reading functionality, which enabled companies to add the QR code to their invoices, e.g. Severn Trent a UK utility.
Property auctioneer Savills Auction has incorporated Pingit into their sales process. Customers scan a QR code from within the Pingit app, which then shows the full transaction details. Once the customer selects the 'OK' option the money is transferred in seconds. Sam Winser, associate director, Savills Auctions, commented: "Creating a service that allows a buyer to put down a deposit and transfer the money in a matter of seconds, such as Pingit, is really making a big difference to our speed and efficiency, allowing us to do more business, more quickly."
QR codes on invoices
Severn Trent, who gives Pingit QR codes on their invoices, reported at the ACT Cash Management conference that they have found Pingit an important payment alternative for a small proportion of their customers, most of whom pay by direct debits.
CTMfile take: This is an important illustration of the expanding role for mobile in payment collection. Incorporating mobile into your multi-channel payment collection strategy is becoming ever more important, see.
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