Do you like the idea of paying for your shopping in seconds? From next year this may become a reality as many high street retailers are signing up to a mobile phone payment scheme which is being backed by our banks.
The app called Zapp will be available on both Android and IPhone from summer 2014. The app will allow shoppers to pay for items without the need to find cash or debit cards in their purses of wallets.
Zapp have recently entered a partnership with Worldpay who is responsible for the payment software in card tills and online checkouts for half of all debit and credit card transaction in the world. The app will be designed to work with online banking platforms from the likes of Barclays, Lloyds, Nationwide and NatWest.
So how does the app work? Basically a code will be sent to a customer’s smartphone or they can scan the code in from a receipt or card machine. The generic code will contain information such as the retailer’s name and the price and details of the good or service – basically everything you need to know to complete the transaction. Once the details have been checked, the transaction can be completed by simply tapping a button.
Speaking of the app, Peter Keenan, Chief Executive of Zapp, said: “The end goal would be to develop the service so that shoppers could leave their wallet at home.
“Zapp will be safer and faster than almost any other payment method and substantially reduce fraud, as you will need to authenticate the purchase by logging into your online or mobile banking.”
People have already been able to send money to their friends via Barclays Pingit app, so payments in shops via a mobile phone seems like the next step. Do you think you will trust paying for goods in a shop with your mobile phone? Share your thoughts with us below.
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