New Barclays Partnership to Let Businesses Make mPayments

“It’s another example of Barclays’ forward-thinking approach to mobile banking, an area in which the bank has proven unusually innovative.”

Major UK bank Barclays has entered into a partnership with Bottomline Technologies that will allow businesses to send payments to individuals via mobile phone.

New Barclays Partnership to Let Businesses Make mPayments

Barclays’ new partnership will allow businesses to make mPayments to individuals.

The project builds upon technology already deployed via Barclays’ Pingit app, a peer-to-peer mobile payment platform, with Bottomline Technologies’ role being to develop a means by which companies can easily integrate the service themselves. Quoted by The Financial Times, Bottomline manager Richard Ransom explained that the system will be aimed at organizations that issue large quantities of cheques, such as insurance and utilities companies.

It’s another example of Barclays’ forward-thinking approach to mobile banking, an area in which the bank has proven unusually innovative. While Barclays resisted joining mPayment pioneer Apple Pay, with support only having arrived this spring, it did so with an eye to promoting its own mPayment app; and the company has also been adventurous in exploring alternative payment devices such as wearables. Its new Bottomline partnership further underscores the growing and disruptive importance of mobile technology in banking and payments.

Source: The Financial Times