High youth demand
Due to high demand and requests for access on blog, app review sites and social media, Barclays is making its mobile money transfer service app Pingit available to teenagers (view press release). Teenagers from the age of sixteen using Blackberry, Apple and Android devices are now able to download the app and use the service. Barclays explains that the service could be particularly useful for teenagers in splitting the cost of cinema or concert tickets, and for parents who can ensure their children have access to money without having to carry cash.
Recent research from Ofcom claims that 60% of teenagers are ‘highly addicted’ to smartphones, with 63% downloading apps. Sean Gilchrist, director of Barclays Digital Banking said, “Smartphone apps are now a part of everyday life for young people. They are highly tech-savvy consumers who really get the fact that cash is becoming more digital and more mobile…”
Barclays is also investing £15 million in the Barclays Moneyskills programme which is designed to teach young people how to manage their money effectively. The programme hopes to reach one million young people by the end of the year.
Whitepapers
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