Zapp is a wholly owned, independent subsidiary of UK-based payments system and ATM switch provider VocaLink.
Under the terms of the roll out, Zapp is to be integrated into the five UK financial institutions existing mobile banking applications, providing payments between consumers and merchants without the need for a digital wallet. Customers will be able to see their bank account balances and select the account they wish to make the payment from.
Zapp payments generate digital tokens, which hide customer bank account details from merchants.
In October 2013, Zapp partnered with payment providers Optimal Payments, Realex and SagePay to provide digital and mobile payments solutions to merchants and their customers.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.