LONDON | Zapp, the new mobile payment method in the UK, adds merchant acquirer Elavon to its list of supporting partners. Elavon will offer Zapp mobile payments to merchants and consumers later this year. Elavon join already confirmed Zapp payment partners WorldPay, Optimal Payments, Realex and SagePay who will help roll out Zapp digital payments to millions of consumers later this year.
What is Zapp?
Zapp, an initiative by VocaLink, is the brand name for the payment solution that empowers consumers to make secure real-time payments through existing mobile banking services. By using the Zapp mobile banking app, available for smartphone and tablet, UK consumers are able to pay for goods and services online and in-store, without the need for cash or cards. A Zapp payment is instantly debited from the consumer's existing bank account and does not require users to share their account information with third parties.
How a Zapp payment works
Zapp can be used for purchases online and in store. If a consumer is shopping online on their desktop, goes to checkout and selects Zapp as their preferred payment method, automatically a notification is sent to their phone and the Zapp app is launched. Purchasing details are pre-filled and the consumer confirms payment. If a customer is shopping from a tablet, going to the check-out will launch the app to pay.
Pay. Mobile. Zapp.
Zapp's Future looks Promising
Critical for success is the ability to get scale. The future for Zapp looks promising as major UK financial brands and leading payment providers support the mobile payment initiative. To become UK's nation wide number one mobile payment method, Zapp still would need to get more financial institutions behind it, such as Barclays (who have their Pingit application). However, the combination of a secure, simple and reliable payment for both consumer and merchant, and the back-up from big players in the UK payment industry, makes that Zapp is well-positioned to become successful. HSBC, first direct, Nationwide, Santander and Metro Bank announced their roll out of Zapp to 18 million customers across the UK. Visa and MasterCard should be warned.
'Zapp represents the leading UK mobile payment facility'
“Elavon is focused on payments innovation and continually extending the range of new services available to our customers. Offering a range of payment options at the checkout is crucial for retailers today; Zapp represents the leading UK mobile payment facility with the broadest financial services industry support,” comments Andrew Rush Head of International Product at Elavon.
Elavon is a leading global payments provider, each year processing 3 billion transactions worth $300 billion, with 1.3 million customers worldwide. Elavon has been a leader in processing payments for over twenty years, leveraging the world’s best technologies for our customers, from large worldwide enterprises to locally-owned small businesses. Elavon is consistently rated among the top 5 global payment providers, and their robust, redundant processing platform and end-to-end advantage ensures commerce for merchants around the world. Backed by the strength and stability of U.S. Bank, Elavon delivers flexible, secure and innovative solutions while providing value at every point in our customer and partner relationships.