UK Bank Lloyd’s has launched its new Link Pay feature on its mobile banking app to enable customers to request money from friends and family more seamlessly.
The feature can assist customers when it comes to shared purchases by sending a request straight to the individual via a secure unique link or, by showing a QR code, removing the friction of manually entering payment details.
Link Pay sends the request straight to the other person, with customers able to choose WhatsApp, SMS, or Facebook Messenger to send and receive the link.
The feature allows customers to personalise the request with an amount and a reference – such as ‘dinner last week’ or ‘present for Dad’ – making it familiar to the person receiving the request. It’s also easier for the person making the payment, as it removes the need to set up a new payee.
The link pre-populates all the information needed, taking the sender straight to their own banking app, tapping into Open Banking to make the payment without asking for any other details.
Gabby Collins, Payments Director at Lloyds, said: “We want our customers to have simple, secure ways to move money at their fingertips and our new Link Pay feature in our app helps them do just that.
“No need to dig out a sort code and account number when someone owes you money – just add the amount and what the payment is for, and we’ll handle the rest. It’s never been simpler to get your sibling to repay you for Dad’s birthday gift.”
Customers can request up to £150 each time and receive a maximum of £500 per day.
