PrePay Solutions will be providing e-Money issuing, BIN sponsorship, and transaction processing services for the Cash on Tap product. This will be supported through a proprietary mobile application service that enables a mobile App and NFC phone to provide an extensive set of payment options including:

• NFC payments through MasterCard PayPass;
• Online payments via a virtual MasterCard;
• Application via mobile App;
• Storing credit and debit card details;
• Loading funds from bank transfer, debit and credit cards;
• Customer balance enquiry and transaction history

The service comes in the form of an App, downloadable from the Google Play store and available initially to EE customers on a monthly contract using select 4G EE handsets.

Ray Brash, Managing Director at PrePay Solutions commented: "There's been a lot of anticipation in the market for a solution that delivers on the promise of mobile payments. This development makes mobile wallets a reality. We're very pleased to stand alongside EE and MasterCard as we make this major foray into this new territory."

In the same way as contactless payments using plastic cards, users of Cash on Tap will now be able to pay for goods and services by simply holding their smartphone over a PayPass™ contactless payment terminal. Additionally, users will have the advantage of a virtual MasterCard account, linked directly to the Cash on Tap App, which can be used to shop online just like a plastic MasterCard.