The Pingit service, which launches today, is available across all smartphone platforms to anyone with a UK current account and UK phone number, and works without sharing bank details.
Customers can register online or use the app, which links a user’s current account with their mobile phone number.
Barclays claims the service – which is the first of its kind in Europe – is as secure as any other and says that the app is protected by a five digit passcode set by the user.
A simple interface has been developed in the Barclays colourways, linking payment options with an SMS message facility which alerts the recipient that a payment has been made.
The Barclays app – which is a 20.04mb file – can be downloaded for free across the Apple App Store, BlackBerry App World, and Android Market.
Only Barclays customers can use the app to send money at the moment, but a second phase app will be released to allow non-Barclays customers to do the same.