The new agreement gives to the UK-based companies a platform with which to send payments instantly to customers using their mobile phone number.
The service will be offered to customers of Barclay’s Pingit service, which the bank first launched in 2012, and the Paym service.
What`s more, Pingit and Paym combined have around 5 million UK customers and businesses using either will be able to make instant payments to customers directly without needing their bank account details. In addition, according to Payments UK, more than 40 million people are eligible to register their mobile phone number for Paym, representing over 90 per cent of UK current accounts.
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