Move Over ApplePay – Tweet-to-Pay Arrives In The UKApril 16, 2015
Ten years ago no one had heard of the social media terms ‘tweet’ and ‘retweet’, and now, you’d have had to have been living under a rock in the most remote part of the world to be oblivious to the global phenomenon that is Twitter.
The founders of Twitter have worked hard over the years to develop a number of lucrative partnerships with organisations across the globe, with the ultimate aim to help expand its service offering.
With over 280 million users, it is no wonder Twitter is looking to expand on the range of services it can offer. Its most recent venture is working alongside a number of banks to enable its users to pay for goods and services using only their Twitter handle.
Whilst there have been attempts by banks previously to set up this Twitter payment mechanism, such as the system introduced in January by India’s Icici Bank, this is a first for the UK. It is being launched by Barclays and has been credited with being more straightforward and elegant than the other Twitter payment mechanisms on offer.
Users will be able to make their Twitter payments through using Barclays’ Pingit mobile funds transfer service. Pingit has been in operation since 2012 and, up until now, allowed users to send and receive money using only a mobile number.
Now Pingit users can link up their Twitter handle with their Pingit account and start sending money straight away just by selecting the Twitter handle they want to pay. This payment system is so simple; login, select the Twitter handle you want to pay and send, and will be launched on Android and iOS within the next month or so.
Payment technology is becoming increasingly simple and social media platforms, as well as building societies and banks, are constantly looking for new ways to simplify their users’ payment journeys, in this case making it easier for users to pay without the rigmarole of having to provide all their bank details and other user data.
Simplifying the payment process will always be a welcome development as far as users are concerned, especially when such a large majority now use their mobiles to access online banking, as well as all their social media presences. A fact which has been recognised by the Director of Barclays mobile banking and Pingit, Darren Foulds: “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”.