Author: Lucy

The United Kingdom will likely be adding a new smartphone friendly transaction service.

According to a recent announcement, the United Kingdom may soon be adding a brand new mobile payments platform to its offerings and will involved every major bank in the country.

When this comes together, it could be an important example for how financial institutions can collaborate.

The British banks will be working together for this mobile payments platform and may help to provide an example of how other financial institutions around the world can work together in order to make this type of transaction more widespread and to help to provide a more universal experience.

This type of partnership among banks can help to make mobile payments a lot more widespread.

The mobile payments service will be called Zapp and it was initially launched by VocaLink. That company is the collectively owned ATM and transaction network by the British banks. This will simply expand on the type of smartphone transaction service that is available in a similar way that other types of transactions have already been spread.

The Zapp mobile payments service will allow consumers to link their smartphone numbers to their bank accounts. This way, it will let these shoppers use their devices to send money in several different ways and for many different purposes. For example, it will allow everything from paying bills over smartphones to making peer to peer funds transfers.

The announcement revealed that the mobile payments platform has received funding from VocaLink worth £16 million, so far, and that it will still require an additional £100 million in order to bring it up to the ability to launch in 2014, as is intended.

Many different mobile payments platforms are currently launching all over the world, including in the United Kingdom. However, this will be among the first of its kind in terms of collaboration across all major banks in the country. The transactions have been very slow to take off, but it could be just this type of service that may make the difference to convince both businesses and consumers to adopt this cashless form of payment.

Retailers will be able to accept these transactions through the new Buyit application.

Barclays’ has taken a new step forward to prove itself as a banking industry innovator by unveiling a new offering to customers in the United Kingdom that allow them to use mobile payments.

These transactions will be based on the use of QR codes printed on various forms of advertisements.

In order to use the mobile payments, the Buyit app is required. It allows customers to scan QR codes on ads in order to make purchases. It is drawn from the popularity of Barclay’s previously launched app Pingit. That app was released earlier this year. The new application, however, helps to extend smartphone transactions beyond the Pingit person to person support so that retailers can also take part.

Barclays’ has high hopes that this mobile payments offering will have a similar impact on its stocks to the last one.

According to one recent report, the company has been maintaining a price estimate of $22 for the stock, and that is currently riding around 20 percent above the market price where it currently stands. U.K. regulators have raised concerns about the banking industry’s capital shortfalls in light of the impact that the European region’s slowdown among banking institutions. That could help to explain the price difference that has been observed.

Barclays is hoping to keep itself at the head of the game by remaining a technology leader. Mobile payments offerings is a central part of that effort. It has previously achieved this type of solid success through the use of ATMs, which are now ubiquitous. The organization has also been leading the way in other contactless transaction solutions.

It was Barclays that launched the very first mobile payments solution in the country. The Pingit app allows customers to send money to one another using only the cell number of the recipient and without the need for the sender to know any of the recipient’s account details. The service is available for free for everyone in the United Kingdom, provided that they have a bank account and a smartphone with which to make the funds exchange.