Five UK lenders are to add a mobile payment facility called Zapp to their smartphone and tablet apps.It will allow their customers to pay for goods or services in shops or online without the need for cash or a credit card.
The firm behind the tech – Vocalink – suggests it is more secure than alternatives since a user’s bank details are not shared. This is because Zapp has been integrated into bank’s exisiting apps.
HSBC, First Direct, Nationwide, Santander and Metro Bank are the first lenders to announce they will adopt Zapp ahead of its launch, which is planned for the autumn.
Zapp’s chief executive Peter Keenan told the BBC, “We will be the only payment method where at the point of sale the customer can see the real-time balance of their accounts.”