The day after it emerged that Apple Pay is on its way to the UK, local rival Zapp has sought to grab some of the limelight by unveiling its new 'Pay by Bank app' consumer brand.
Set up by VocaLink in 2013, Zapp is aiming to bring real-time mobile payments - in store, online and through apps - to millions of Brits by integrating its system into bank apps and tapping into the Faster Payments rails.
When the service launches this summer, customers who click on the 'Pay by Bank app' symbol online will automatically see their bank app open on their phone from which, once logged in, they can complete payments. The symbol will also be used in stores on the high street.
Peter Keenan, chief executive, Zapp, says: "We’re delighted to unveil the new Pay by Bank app paymark ahead of our consumer launch. All of our consumer testing shows that it will be extremely effective in giving consumers the confidence that their mobile payment is backed by their trusted bank."
HSBC, first direct, Nationwide, Santander and Metro Bank have committed to embedding Zapp within their phone and tablet apps, bringing the technology to their 18 million customers, while Sainsbury's, Asda, House of Fraser and Shop Direct are among a group of retailers also signed up.
However, the service looks set to be beaten to the punch by Apple, which yesterday revealed that it has enlisted its own impressive array of banks and merchants, as well as Transport for London, for a July launch of Apple Pay.