Under the terms of the contract, ZNAP will process all payments for Oxygen8 - meaning the technology will be handling tens of millions of transactions every month. Also as part of the agreement, Oxygen8 will re-sell ZNAP to its new and existing customers, powering payments for the likes of Paddy Power, Aer Lingus and Easy Trip. ZNAP is a mobile business platform that enables customers to pay for services by scanning QR-codes with mobile phones. What makes it unique to other payment technologies is its built-in business intelligence software, which supports advanced marketing & loyalty management, and allows consumers to redeem offers instantly when they make a payment.

Oxygen8 has completed integration testing for ZNAP and has begun processing payments in Ireland, UK and Australia, with plans for further expansion later this year. Based in the UK, Oxygen8 has worked with an impressive list of global customers, including Sony, Diageo and Saatchi, and has built a reputation for being at the forefront of the mobile marketing industry.

Hooman Mazaheri, European CEO at MPayMe said: "Our collaboration with Oxygen8 shows that MPayMe's technology is ready to be deployed around the world by large and well-respected brands. ZNAP will provide the payment gateway for all credit and debit transactions made by Oxygen8 customers. It will also help them improve their businesses by getting closer to their consumers. This is possible with our sophisticated software, which gathers data surrounding customer preferences and comes bundled with loyalty integration, business intelligence, and much more. Consumers can redeem special offers on the spot when using ZNAP™, or pay for services with coupons and loyalty instruments - all through a single mobile application."

Maria Grant, Head of Product Development at Oxygen8 said: "Our partnership with MPayMe adds great value to our mobile payments portfolio. Working with MPayMe will provide Oxygen8 with with the ability to offer worldwide credit card payments, delivering a seamless, intuitive and secure journey for consumers and merchants alike."

ZNAP is designed to enhance customer experiences and to bring real value to merchants and consumers. The partnership will enable Oxygen8 to reach out to its consumers and enable them to make payments in-store, online or on paper invoice using debit/credit cards, coupons or points. Users of the service will also get immediate offer fulfilment and redemption as a reward for their custom. This will create a unique shopping experience for the customer and help build loyalty for brands and retailers.