Barclays brings mobile payments to London’s black cabs

London Cab mobile Payments
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Black cabs in London will be able to accept mobile payments using the Pingit app

Barclays, one of the largest financial service institutions in the United Kingdom, is bringing mobile payments to taxis in London. The city’s famed black cabs will now be able to accept payments from mobile devices using the Pingit application. Consumers with an account with Barclays can download the application and use it to make a payment by simply scanning a QR code. This process can be completed in less than 30 seconds.

QR codes to facilitate mobile commerce for transportation

Black cabs in London will be affixed with QR codes that can be scanned by the Pingit app. Each code will be unique, effectively identifying the cab that someone is riding in. QR codes are most often used in the marketing field and have proven that they can connect with consumers quite effectively. These codes are beginning to see more use in the mobile commerce space because of their convenient nature, which aligns well with the basic premise of mobile payments.

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Technology Quotes That Invite Thought - "Mobile is the future, and there is no such thing as communication overloaded." - Eric Schmit, Former Executive Chairman & CEO, Google

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Some 20 million people will use their mobile devices to pay for goods and services by 2020

London Cab mobile PaymentsCommerce in the United Kingdom is becoming more mobile. According to recent research from the Center for Economic and Business Research, some 20 million people are expected to use their mobile devices to pay for goods and services by 2020. A growing number of people are relying on their mobile devices in their daily lives, using these devices to stay in touch with loved ones and to entertain themselves. This reliance on mobile technology is beginning to have an impact on how commerce functions.

Pingit app downloaded 3 million times since its launch in February 2012

Barclays notes that the Pingit application has been downloaded 3 million times since it was launched in February 2012. An estimated $600 million has been trafficked through the application since that time. Earlier this month, Barclays announced that it would be releasing the Pingit application for Windows Phone, nearly a year after the bank had said it would do so.

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