The Commonwealth Bank of Australia has partnered with Barclays, with the two connecting their respective payment apps, providing for streamlined transfer of payments between Australia and the UK.The partnership connects CBA’s CommBank app and Barclays’ Pingit app, providing “a seamless, secure and simple process for moving money across continents”.
“Today’s collaboration marks the first time Australian and UK consumers can, through the CommBank app and Barclays Pingit respectively, send money between the two countries with the simplicity of using only a mobile telephone number,” CBA states.
The service will be available to retail customers in the last quarter of 2016.
“We are delighted to offer customers a simple and secure mobile-to-mobile international payment option through our partnership,” CBA group executive institutional banking and markets Kelly Bayer Rosmarin commented.
“This demonstrates the power of two influential global organisations collaborating to deliver world-firsts in financial services innovation.”
CBA has also advised that it has opened its Innovation Lab in London, which joins labs in Sydney and Hong Kong.
“London, and the UK as a whole, has a reputation for nurturing global fintech innovation,” Rosmarin stated. “We are excited about opening our Innovation Lab here and look forward to many partnerships and collaborations with this vibrant fintech community.”