Barclays have released a new service called Pingit, an application that lets users send and receive money just by using a mobile number. To start the app will only let customers of Barclays send and receive money but those who bank elsewhere can still register with the service here  to receive payments and have full access come March time.

The app has been developed so that all you need to do is register your bank account and your mobile number so when it comes to sending payments or receiving them all you need to do is share your mobile number. The Barclays Pingit app also lets you find your nearest Barclays ATM or branch and, if you’re a Barclays current account customer, you can view the balance of your linked account.

This also looks like a great way for self employed folk to get paid, no credit card machines or the charges that come with them. The service will let you send anything from £1 – £300 per transaction with a maximum amount of £5k per day.

So if you think Pingit will make your life easier, it sure does look good you can grab it from the Android Market now. Android 2.2 is needed or newer as is 20MB of space. If you have rooted your phone, the app won’t work as pointed out by reader Gavin.

What are QR codes?