Barclays has joined forces with Commonwealth Bank of Australia (CBA) to allow retail customers to send money between Australia and the UK with just a phone number.
Barclays has connected its payment apps Pingit with CBA’s CommBank to offer a seamless, secure and simple process for transacting across continents.
With CommBank app, CBA has offered its 11.8 million retail customers domestic transfers, while in the UK, Barclays’ Pingit app already has over three million registered users.
The two entities in a joint statement said that the PingIt/CommBank app solution will be available to retail customers in the last quarter of 2016.
CBA group executive institutional banking and markets Kelly Bayer Rosmarin said: "We are delighted to offer customers a simple and secure mobile to mobile international payment option through our partnership. This demonstrates the power of two influential global organisations collaborating to deliver world-firsts in financial services innovation."
Barclays group chief operating officer Paul Compton said: “Today’s announcement marks the first time our Pingit app has allowed two-way cross border payments, enabling our customers to send and receive money to and from Australia quickly, easily and securely.
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“Our partnership with CBA demonstrates how large institutions can and should work together to provide innovative solutions that benefit both customers, and the banking industry as a whole.”