The service will work via an integration with existing mobile banking apps and will be supported by five UK banks at launch — HSBC, First Direct, Nationwide, Santander, which are also signed up to provide Apple Pay to their customers, as well as Metro Bank.
Through support from merchant acquirers WorldPay, Optimal Payments, Realex and Sage Pay, it will also be available at 60% of the UK merchant base including Sainsbury’s, Asda, House of Fraser, Thomas Cook, Shop Direct, Spar and Clarks.
A ‘Pay by Bank app’ paymark has also been unveiled by the company as a logo that will be used to let consumers know where they can make payments using the service. It will be launched for online payments initially, and in-store payments based on NFC will be launched at a later date.
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