ING is piloting a peer-to-peer funds app that makes use of ultra-wideband (UWB) expertise to let customers switch cash by merely pointing one handset at one other.
Customers open the ING app, level their telephone to the person to whom they want to switch cash, and ensure the transaction. There is no such thing as a have to enter one other particular person’s electronic mail deal with, telephone quantity or IBAN when making a fee.
Each the payer and recipient should have the ING and Close to apps on their telephone, which for the pilot will have to be a UWB-enabled Samsung Galaxy.
Thijs Janssen, ING Manufacturing unit, says: “Customers now not have to share private particulars, which makes cell funds much more swift and simple. UWB’s precision location capabilities be sure that the fee is safely transferred to the fitting particular person.”