UK bank Barclays hopes an integration deal with Verifone, the leading payments hardware firm, will boost m-commerce usage for its Pingit payment app, but might be good for point-of-sale transactions too.
The agreement means Pingit is an accepted payment method for Verifone’s 20,000 managed service clients in the UK. Those potential additions will be added to the 70,000 businesses which already used Pingit, said an announcement. It did not say whether any crossover exists between the two customer bases.
The deal is also designed to tackle m-commerce obstacles such as an over-long payment process that causes low completion rates.
Verifone will integrate the Pingit service into its PAYware Ocius m-commerce gateway. Beyond the m-commerce opportunity, the two firms will look at broadening the acceptance of Pingit to include Verifone’s physical retail and POS payment terminals.
Customers do not have to bank with Barclays to use the Pingit app, which is better known for P2P payments than those between consumer and retailer.