UK interbanking infrastructure provider, Vocalink says that its mobile
payments platform, Zapp is to be adopted by a number of UK banks.
HSBC, First Direct, Nationwide, Santander and Metro Bank will roll out Zapp
mobile payments to 18 million customers across the UK. Together this group
represents over a third of all UK bank accounts with 60% of UK merchants being
able to take advantage of Zapp payments.
Zapp will enable consumers to benefit from real-time payments on their mobile
phone banking applications, allowing payments between consumers and merchants.
Zapp will also be integrated into the banks other mobile banking applications.
Customers will be able to see their account balances before they pay and
choose different accounts to pay from.
Zapp payments work through secure digital "tokens", which mean customers
don't need to reveal any of their financial details (including bank account
details) to merchants when they are shopping. And because Zapp is integrated
into the mobile banking app it's only the financial institutions that know
account details.
David Yates, Chairman of Zapp and CEO of VocaLink said, "Zapp is a major
payment innovation for Britain that will bring significant value to consumers,
merchants and financial institutions."
No comments:
Post a Comment