Zapp set to launch mobile payments service in autumn
Zapp, a mobile payments startup formed by VocaLink, has said that it will launch its mobile-payments system in autumn 2015.
The company launched ‘Pay by Bank app’ logo, which will let consumers know they can use the service to make a payment.
Zapp said that Pay by Bank app will become its consumer facing brand of the yet to be launched service.
The launch of the service will be supported by five banks namely HSBC, first direct, Nationwide, Santander and Metro Bank.
The service will allow consumers to make secure real-time payments to retailers and billers direct from their smartphone or tablet using their mobile banking app.
Zapp CEO Peter Keenan said: “We’re delighted to unveil the new Pay by Bank app paymark ahead of our consumer launch.
“Retailers and businesses will benefit from the Pay by Bank app simplicity which will deliver better conversion at a significantly lower cost, something the retail industry has been demanding for years.
“Zapp will continue to be our trading name and also the name we use to describe the coalition of partners backing Pay by Bank app.”