Tag: barclays

The U.K. bank has announced the introduction of a considerable update to make the process easier.

Barclays has just announced the latest functionality in its Pingit app, as it is now providing large businesses the opportunity to complete mobile payments through the use of only a cell phone number.

This completely removes the requirement for having to submit any sensitive banking data.

Now, the app makes it possible for retailers, insurance companies, utilities, and other larger organizations to be able to send mobile payments without having to obtain or store the details of debit or credit cards. This is because the File Gateway from Barclays gives them the ability to send funds direction into the individual Pingit accounts. Those are available to both Barclays customers and those who are not.

This new mobile payments opportunity is meant to help to bring convenience, speed, and security.

The Barclays head of U.K. corporate payments, Mike Walters, explained that “Consumers today want quick and convenient ways to receive value.” He went on to add that by using mobile payments, they have a solution that is both rapid and secure for accomplishing that goal, without ever having to share their account numbers with anyone else, including the company from whom they are making the purchase.

Walters also went on to state that when it comes to businesses, there is a rising importance which must be taken into consideration regarding the use of mobile payments as a more mainstream part of their business strategies as a whole. The reason is that it provides them with a long list of different potential benefits, including the reduction of the costs associated with the use of checks, as well as the enhancement of the customer experience.

Consumers are using their devices for a growing number of their daily activities and mobile payments can fit into these tasks quite smoothly. Though the option has been slow to take off in many of the western markets, many experts feel that it will not be long before the use of smartphones as a replacement for plastic cards begins to take off at an explosive rate.

Stripe aims to bring mobile commerce to Ireland

Stripe, a payment processing company, has been working on a mobile commerce platform recently and has plans to launch this platform in the coming months. The first market that will receive access to the Stripe platform will be Ireland, where mobile commerce has been attracting a significant level of attention over the past several months. Ireland will serve as a launch platform for Stripe before it moves into other markets throughout Europe.

European consumers demanding new platforms

European consumers are beginning to grow more comfortable with the idea of mobile commerce. The proliferation of smartphones and tablets has made it exceedingly easy for these consumers to get involved in online shopping. Companies like Telefonica, for example, are making a strong push to promote mobile commerce among consumers, but comprehensive platforms like Stripe are needed in order to ensure that consumers have a way to make mobile payments.

Stripe could be popular with businesses

The Stripe platform is not only designed for consumers, as it can also be used by companies that are interested in mobile commerce. The platform allows these companies to accept mobile payments from any platform, whether it be a website, mobile device, desktop, or tablet. This could be a well received tool in the retail sector as many companies have been seeking out new platforms that can help bolster their mobile commerce performance.

Stripe to face major competition

Though Stripe may have strong ambitions and the backing of powerful investors, it will still face strong competition in the mobile commerce space. Large companies like Square and Barclays have been pushing their way into this market, establishing a dominating presence therein. If Stripe can find a foothold with consumers and businesses, it may become Europe’s next mobile commerce phenomenon, effectively exposing many consumers to the idea of mobile payments.