Barclays bank is enabling consumers to make payments to each other and small businesses using their Twitter name, with its Pingit mobile banking app.
In March 2015, users of Android and iOS-based smartphones will be able to log into Pingit and make a payment using their Twitter name.
Barclays said it had introduced the use of social media for making payments as a result of customer feedback.
“We are always on the lookout for new and exciting ways to make people’s lives easier and customer feedback plays a big part in how we chose to further develop our apps,” said Darren Foulds, director of Barclays mobile banking and Pingit.
“Adding the ability to pay people or a small business using just a Twitter handle brings together a social and digital experience to create a new step forward for mobile payments in the UK.”
This will also be available to 57,000 businesses in the UK currently that are signed up to Barclays Pingit service.
Read more about Twitter and banking
- Indian bank ICICI has launched a service to allow customers to make payments using Twitter, making it the second bank after France's BPCE to harness Twitter to move money.
- The successes of websites like Facebook are mere blips, but what comes after them will define how businesses are run in the future, according to finance experts.
- In a consultation, the FCA has advised finance firms about its regulatory stance on social media.
French bank pioneers Twitter payments
Since its launch in 2012, Pingit has received 3.7 million downloads and over £1bn has been sent using the app.
Barclays is not the first bank to link Twitter with payments.
In October 2014, French bank BPCE enabled Twitter users to tweet payments to each other through its electronic money subsidiary, S-money.
The service is available to any Twitter user in France with a bank account, regardless of which bank they belong to. There is no need to fill in the recipient’s bank details.
Indian bank ICICI Bank has also connected twitter is a payments. It launched icicibankpay, which enables customers who register to send a direct message to @icicibank with the recipient's user name and the amount to be transferred. The person receiving the money does not need to be an ICICI Bank customer.