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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.

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.

[ To learn more about new opportunities in mobility in financial services, register for Interop here and check out the “New Opportunities for Mobility: A Financial CIO/CTO Roundtable” session on October 3 in NYC.]

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.

[See Also: Mobile Payments In Space? Get It Right On Earth, First]

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

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Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
9/23/2013 | 10:15:17 AM
re: Barclays Gets Into the Mobile Payments Game
QR codes have had limited success, at best. Even using a QR code involves more than 1 step, which delays the process and limits adoption. A user has to first scan the QR code to see what the offer is. Hopefully, the user has good mobile reception and the results come back quickly from the server. Then the user has to decide to purchase a product.
Byurcan
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Byurcan,
User Rank: Author
9/17/2013 | 7:46:49 PM
re: Barclays Gets Into the Mobile Payments Game
Buying items via scanning a qr code from an advertisement has long been touted as the future of mobile commerce. I wonder how well consumers will take to this.
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