The new application is available free of cost at the web portal of Barclays, which can be easily downloaded and installed into mobile phones, said the firm.
The service is only available for Barclays current account customers, under which users can send and receive money without sharing their bank details.
According to the service provider, customers can use the app available on iOS, Android and Blackberry, or they will have to register online to receive payments without considering what type of phone they use.
Later, the company will launch extended version of the same application which will support all current accounts across the UK.
Barclays current account holders can transfer the amount between £1 and £300, and the recipient of the money can not exceed £5,000 on daily basis.
The money transfer will be safe similar to any other banking transaction, as the application was protected by a five-digit code set by the user, said the company.
