Barclays Pingit. A baby step in the right direction.

Within 2 days of launch over 20,000 Brits have signed up to use Pingit, the mobile money transfer service at the heart of the Barclays’ emerging channel strategy.

We are The Levels have long been waiting for a Google Wallet type service to be launched here in the UK and we were horribly over excited when rumours started to emerge about what Barclays were up to late last year.  Pingit is a small but significant step in the right direction allowing you to transfer money to others in the UK via your mobile phone.

If you decide to use the Pingit service, your recipient will receive a text message when you send the cash.  All they need to do is to register with Pingit, either by downloading the app or register online at  www.barclays.co.uk/pingit.  All rather slick hey?

There are some downsides -Barclays accept no responsibility if you Ping the wrong person (so make sure you’ve got the right mobile number!) and they also retain the right to hold your mobile number and that of your recipient for marketing purposes. If you want to opt out of the marketing messages you have to, quite literally, send them a letter.

We’re pretty sure that the novelty of the service will wear off and within a few months it’ll be seen as just another way to pay your friends for the half of the bar bill you “forgot” on Friday night.  But, we at The Levels see this as an important step by a British bank to get us, the great unwashed in the UK, used to mobile money transactions and the concept of micro-payments via mobile.

Banks, retailers and financial institutions have a vested interest here, a cashless payment is far cheaper for them to handle so of course Barclays et al want us to Ping for our coffee in the morning and for our taxi on the way home. Horribly convenient for us and more profitable for them.  We all win.

The MD of PayPal UK, Carl Scheible agrees.

“We’ll see a huge change over the next few years in the way we shop and pay for things. By 2016, you’ll be able to leave your wallet at home and use your mobile as the 21st century digital wallet.”

If you fancy debating the pros and cons of a cash-less society with us, we’re very much up for the debate.  However at this point we’d like to emphasise the better access to financial services that mobile micropayments present to all and above all the simple convenience of the whole process of mobile micro payments.  Well done Barclays for taking this baby step we look forward to see what happens next.

What’s the point of Yahoo?

As Carol Bartz is sacked we ask if the problems at Yahoo are simply caused by bad management.

The CEO of Yahoo, Carol Bartz, has been ousted from her job after just over 2 years at the helm of the rather troubled internet giant.  Apparently, she was informed by telephone that she no longer had a job and true to form sent a rather inappropriately worded email to all Yahoo staff announcing her sacking.

It could be argued that she’s been responsible for a lack lustre financial performance along with some questionable deals that included signing over their search operations to Microsoft.  Additionally, advertising revenues have remained flat during her time at the helm even though the market has been growing significantly.

So, Ms Bartz, you’re out of a job and the blame game is successfully in play.  But we at The Levels think that the problems at Yahoo are far more deep-rooted than simply some bad management.  What is the point of Yahoo?  Are you a media company, a technology giant, a communication provider?  When you look in the mirror what is it that you see?  Until you can answer this question we don’t think it matters who’s at the helm the problems you’re facing will only get worse.

As Microsoft, Apple & Google continue to carve up the digital world in a land grab that reminds us all to clearly of the Age of Empires (& no we don’t mean the computer game), what is the future for Yahoo without a clearly defined identity and raison d’etre?

So, if the board of Yahoo are listening we’d like to make the following suggestions:

1. Sell off your Asian assets

2. Don’t try to take on Facebook – do we really need ANOTHER social network?

3. Concentrate on what you do well and define yourselves through that.  See yourself as a communications provider and deliver the very best services out there.

4. Hire some good ad sales execs.

As we go to press we hear that an All Hands meeting of the Yahoo board and senior management is under-way.  Hopefully we’ll get some of those answers!

Read the original report of the sacking at AllThings D