wordpress blog stats
Connect with us

Hi, what are you looking for?

Barclays extends mobile-based remittance service called Pingit to India

British banking and financial services company Barclays PLC, has launched a mobile payment service between the UK and India, called Barclays Pingit reports The Financial Express. This service will even allow non-Barclays customers to transfer money between the two countries. The send money to India option is active for the Android and iOS apps of Barclays Pingit. The Blackberry app doesn’t mention anything about this development.

According to FE report, in 2013 alone £2.5 billion remittances were sent from the UK to India. Also, this amount supposedly accounts for 7% of total foreign exchange remittances India received in 2013.

Users in the UK can send payments to India simply using a mobile number. Neither the sender nor the recipient need to have a Barclays account. The minimum transaction limit is set at £25, and the maximum transaction limit is £1500. It can take up to 48 hours for the payments to be processed.

Barclays first launched the Pingit app in February 2012. It was initially designed to allow UK current account customers to send and receive cash through their mobile phones.

Remittance services to India

Last year in January, Yes Bank had launched an online remittance solution called Yes Remit, in partnership with Times of Money. The service is available in Gulf Cooperation Council (GCC) member countries, United States and European Union (EU) member countries.

Advertisement. Scroll to continue reading.

It’s worth noting that Times of Money has its own online remittance services called Remit2India and Remit2Home, and launched a bill payment solution for NRIs to manage their bills in India called BillPay2India in August 2013.

In January 2013, online payment solution provider Avenues India had also launched an online remittance service called Remit Guru with IndusInd Bank. The service is currently available in Eurozone countries, Germany, the UK, Canada, and Singapore.

The mobile payment solutions company PayMate India partnered with Muthoot Finance to launch a domestic remittance service, in October 2012.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ