Barclays Pingit app lets you pay via SMS

While NFC being used to transfer cash from one person to another is the trend du jour, Barclays has launched an app that could make transferring money easier between people who otherwise cannot transfer money via NFC, since they don't live in the same place. The app is called Pingit and it allows users to transfer money to another user by just using the recipient's phone number. It's almost like you're texting the recipient money, be it a person or even a restaurant (if they have it set up). According to The Mirror, there is no need for routing codes or account numbers. Also, the chances of delay are minimized. Click here for full story