Savills Auctions and Barclays have joined forces to create a new way for customers to buy new home via their mobile phones.
The UK bank's Pingit mobile application, which is used to transfer money between individuals and business, was used by a homeowner to put down a $38,000 deposit on a property.
By scanning a Savills QR code from within the app people can put down a deposit on a home. The app will then show the full transaction details and once the customer selects OK, the money will be transferred in seconds.
Darren Foulds, Barclays Mobile Banking and Pingit product director said: “This shows the potential for mobile payments as services like Pingit gain more widespread use. For quick, secure transactions on the go, mobile is fast-becoming a trusted method of making payments - whether from person-to-person or, as in this case, to pay a business."
Pingit has experienced great success since its launch in 2012 and has now been downloaded 2.5 million times, with the total amount of money sent via the app reaching the $583 million.
By Gary Cooper