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Barclays finds Twitter users have developed a new language for banking terms

Thu, 10 Feb 2011

A new study from Barclays has looked at the way people talk about money on the social networking site Twitter and found that 43 per cent of people believe that banking via mobile phones has changed the way people now refer to and talk about money.

According to the research, six in ten Twitter users manage their money by mobile banking and are heading a change in financial terminology. In particular, 'Tweeters' are replacing the traditional word 'transfer' to describe the movement of money with other words such as 'ping', 'pop', 'drop' and 'swipe'. Other informal words and phrases used to portray money and banking include 'shrapnel', 'dosh' and 'in the black/red'.

Sean Gilchrist, Managing Director of Digital Banking at Barclays said: "Innovations and improved functionality in the Barclays.mobi service is making 'pinging' money around a lot easier. As we embark on a major milestone of 1 million mobile banking transactions in a month, mobile technology is growing at a rate far faster than online banking did when it was first launched."
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