Barclays Pingit user spends £23k on house deposit

A homeowner has paid a £23,000 house deposit through Barclays’ mobile payments app Pingit, after the bank announced a partnership with property auctioneers Savills Auctions.

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A homeowner has paid a £23,000 house deposit through Barclays’ mobile payments app Pingit, after the bank announced a partnership with property auctioneers Savills Auctions.

Pingit was initially launched as a person to person payments mobile app in 2012, but has since added functionality for customers to make payments to businesses by scanning QR codes printed on bills.

Barclays has announced a number of partnerships for its payments service in recent months - including utility firm Severn Trent Water - and has now added Savills Auctions to the list.

The partnership with Savills allowed the unnamed homeowner to put a down payment on a house in Mitcham, South London, by using the app to scan a Savills QR code. The payment is the first time a mobile service has been used to purchase property, Barclays claimed.

Pingit has been downloaded 2.5 million times since launch and the total amount of money sent using the service has reached £350 million. The average sum paid through Pingit is approximately £70.

“This shows the potential for mobile payments as services like Pingit gain more widespread use. For quick, secure transactions on the go, mobile is fast-becoming a trusted method of making payments – whether from person-to-person or, as in this case, to pay a business,” said Darren Foulds, Barclays mobile banking and Pingit product director.

Sam Winser, Associate Director, Savills Auctions added: “Creating a service that allows a buyer to put down a deposit and transfer the money in a matter of seconds, such as Pingit, is really making a big difference to our speed and efficiency, allowing us to do more business, more quickly.

“It gives buyers the ability to send and for us to receive guaranteed funds immediately, which is obviously hugely advantageous.”

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