Zapp: putting banks back in the m-payments picture

"Among the more than 1,500 exhibitors at the Money2020 in Las Vegas this week, Zapp, the mobile payments initiative, is probably one of the few that is aiming to put banks firmly back into the middle of the payments process.

Formed earlier this year as a separate subsidiary of VocaLink, the UK payment processor, Zapp expects to launch next year with the backing of most of the major UK retail banks, Peter Keenan, chief executive of the venture, says that at the time of launch the Pay by Zapp service will be available to 40% of UK current account holders, and it will have the backing of 50% of the nation’s online and mobile retailers – including well-known brands." Continue Reading