London - Millions of British shoppers will soon be able to pay at the till with their mobile phone, thanks to a new app.
Britain’s biggest banks have backed Zapp, which will launch early next year. The system is designed to work with the apps already offered by HSBC, Natwest, Nationwide and Lloyds, among others.
When they reach the checkout of a shop that accepts Zapp payments, customers will have a special code sent to their mobile phone. They will then confirm the transaction with one tap of the finger.
Peter Keenan, Zapp’s chief executive, said the app “will allow millions to leave their wallets at home”. He added: “When you pay with a card in a shop or online, you give the merchant all sorts of details that would be dangerous in the hands of a fraudster. With Zapp, nothing is revealed, so it’s much more secure.”
However, experts warn it is too early to rule out safety fears. Justin Modray, of finance website Candid Money, said: “It remains to be seen whether this throws up security issues. The technology will have to be fool-proof, or it will cause more problems than it solves.” - Daily Mail