Barclays powers merchant mobile payments
Written by Peter Walker
Barclaycard has updated its Pay by Bank app so merchants can now accept mobile payments.
The new payment method, created in partnership with Mastercard’s Vocalink business, is also set to be rolled-out in 2020 to over six million consumers.
Pay by Bank allows shoppers to pay quickly and securely for goods and services on a mobile device, without the need to enter payment details, logins or passwords. Customers simply select the Pay by Bank app option during the checkout process, at which point they log into their existing mobile banking app to seamlessly authorise and complete the purchase.
Barclaycard suggested that merchants adopting the technology should see higher conversion rates for mobile transactions, because consumers don’t need to manually input payment details, as well as lower levels of fraud, due to the strong customer authentication and simpler digital dispute system.
Rob Cameron, global head of payment acceptance at Barclaycard, said: "Thanks to significant investments in our platform, clients have access to a growing range of payment types, each of which can help them increase market share by meeting the needs of more customers.
“With mobile now an essential part of every retailer’s channel strategy, we’re excited to be partnering with Mastercard to help our clients make their mobile customer experience as safe and as frictionless as possible.”