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Pingit and Paym - Yay or Nay?

Pingit Paym

The phrase 'Just Pingit to me' can be met with raised eyebrows and a string of questions. Certainly the idea of being able to pay the window cleaner mobile to mobile seems very convenient, but what actually are Pingit and Paym? How do they work, and are they safe?

The idea originated from Barclays, when some bright spark decided that running to the cash point was too much effort. All you need is a smartphone, a 5 digit pin number, the app, and the receiver's mobile number (or even just their Twitter handle). Open up Pingit, type in your Pingit pin number, select the recipient, select the amount and off it goes.

You do need to register your mobile number with your bank, as does the person receiving the funds, (they have five days to do this before the money gets whizzed back to you). Paym, its successor, works in much the same way but doesn't limit you to Pingit users.

Barclays and the Payment Council, responsible for Pingit and Paym respectively, say these apps are just as secure as internet banking. You have to enter that five digit pin number every time you open the app, before trying to send any money. If your phone is lost or stolen, your bank can immediately disable the app once you've given them the heads up.

The apps have been available since 2012, but are back in the news recently because of their developments in retail. If something you're looking at in a window has a QR code, you can scan it, pay with Pingit or Paym, and then just sit back and wait for it to be delivered. Because who has the time to pay at the till?

Want to set up Pingit or Paym on your smartphone, but still feeling a little confused? Give us a call on 0191 482 0444 to find out how Transcendit can help.


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Just a quick note to say how thoroughly professional and exceptional the service is from Transcendit. Over the many years you have supported us, Christophe and the team have always been quick to respond, extremely knowledgeable, approachable and pro-active. Transcendit offer a fantastic service and it is greatly appreciated. Many thanks. Martin Alderman, Fylde Council

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