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September 23, 2015

Verifone tackles mobile payment failure with Barclays Pingit

Solution's integration with gateway aims to boost m-commerce convenience.

By Alexander Sword

Retailers using Verifone’s m-commerce gateway will be able to use Pingit as part of a partnership with Barclays.

The solution, which allows anyone with a UK-registered mobile number to send and receive money, will be available in 2016 to Verifone’s 20,000 managed service clients in the UK, in addition to the 70,000 businesses already using it.

Pingit will be integrated into the PAYware Ocius m-commerce gateway. The two companies also plan to look at increasing Pingit acceptance at physical locations.

The agreement aims to boost convenience and tackle high mobile transaction failure rates.

June Felix, President, Verifone Europe, said: "This is an important partnership as we continue to broaden the range of services and value we bring to our merchant clients, simplifying all forms of payments, across all sales channels, for millions of consumers."

Ashok Vaswani, CEO of Barclays Personal and Corporate Banking, said: "We want to end the frustration caused by mobile checkout failure because it’s just too cumbersome to laboriously enter long card numbers, and Verifone is ideally positioned to help us achieve this goal.

"By using Pingit on mobile checkout pages we can give greater confidence to customers and retailers alike. Mobile brings so many advantages to consumers and through this partnership with Verifone we can make the mobile checkout completely frictionless."

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Imran Khan, Head of Programmatic and Partnerships at xAd, the global location marketplace, commented on the shift towards Mcommerce:

"The consumer path-to-purchase is fundamentally changing. As confidence in mobile technology grows, smartphones and tablets are now playing a key role in the consumer journey and global smartphone users are expected to pass 2.5billion by 2018, according to our State of the Market Report.

"This shift makes mobile a medium that simply cannot be ignored by retailers."

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