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|Business needs||Example of relevant sectors||Description|
|Refunds / compensation||
• Utility companies
• Mobile operators
• Airlines (lost luggage, reimbursements)
• Online retail / refund card collections
• Healthcare (patient refunds, conference travel)
|Paying out refunds or compensation often takes place at a very sensitive time in your customer relationships. You’d like it to go well and with minimum friction. Paying using mobile phone numbers as proxies require you to collect less information. Moreover, the recipient could receive an SMS confirmation as part of the service – turning a refund from a negative to a positive.|
|Payouts of winnings or benefits||
• Education (e.g. hardship funds)
• Retail Insurance
|When speed is at the essence you may want to use faster electronic payment systems (e.g. Faster Payments in the UK). However, this require you to collect account details – details your customers may not have to hand and you may not want to collect and store. When speed is of the essence – and you’d like a more modern solution to suit your audience (e.g. students) proxy payments would help.|
|Payout of earnings||
• taxi drivers
• delivery companies
• “direct selling (e.g. door to door)”
• catering companies
• ad hoc payroll companies
|Paying out earnings or commission could be challenging when your workforce or agents change quickly, and you may struggle to ensure you hold correct account details at any given time. Mobile phone numbers are easier to collect – and may be information you already hold.|
Peter Lambert at Camelot says: ‘We are passionate about player experience and Send a payment makes a winning moment even more magical by enabling payment of funds directly into the winner’s bank account, without the need for full bank details.’
The products referred to in this webpage are subject to separate terms and conditions.
Find out more about our mobile payment products by talking to your Relationship Director.
New to Barclays? Our experienced UK-based team can listen to your business need, offer assistance on-the-spot or put you in touch with the right specialist at Barclays. Call us on:
1Source: The Communications Market Report, Ofcom, August 2015 and The Future of M-commerce Report, Barclays, 2015.
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