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CBA and Barclays team up for P2P payments

Customers of the Commonwealth Bank of Australia (CBA) and UK bank Barclays will soon be able to send money to each other using a mobile phone number through CBA’s CommBank app and Barclays’ Pingit P2P payment service. The option will become available to retail customers in the last quarter of 2016.

Commonwealth BankThe collaboration “marks the first time Australian and UK consumers can send money between the two countries with the simplicity of using only a mobile telephone number,” Barclays says.

“Technology is transforming the financial services industry and fundamentally changing what our customers and clients want and need from us,” says Barclays’ chief operating officer Paul Compton. “Our partnership with CBA demonstrates how large institutions can and should work together to provide innovative solutions that benefit both customers and the banking industry as a whole.”

“We are delighted to offer customers a simple and secure mobile to mobile international payment option through our partnerships,” adds Kelly Bayer Rosmarin, CBA’s group executive of institutional banking and markets.

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