Provides the payment technology behind EE's Cash on Tap service
PrePay Solutions, European provider of prepaid services, has announced it will be facilitating the payment technology for EE's Cash on Tap service, a new mobile payments solution.
Cash on Tap is EE's near field communications (NFC) mobile payment service that has been created in partnership with Mastercard. EE customers with an NFC phone can download the Tap Wallet via Google Play then add the Cash on Tap service. Once they have created their account they can then add a payment source and load money to their prepay account. The account can be used to pay at any contactless card reader to pay for anything under £20.
PrePay Solutions is providing e-money issuing, BIN sponsorship, and transaction processing services for the Cash on Tap product.
This is to be supported through a proprietary mobile application service that enables a mobile app and NFC phone to provide an extensive set of payment options including NFC payments through MasterCard PayPass; online payments via a virtual MasterCard; the application via mobile app; storing credit and debit card details; loading funds from bank transfer, debit and credit cards; and customer balance enquiry and transaction history.
Ray Brash, managing director at PrePay Solutions commented: 'There's been a lot of anticipation in the market for a solution that delivers on the promise of mobile payments. This development makes mobile wallets a reality. We're very pleased to stand alongside EE and MasterCard as we make this major foray into this new territory.'
In the same way as contactless payments using plastic cards, users of Cash on Tap will now be able to pay for goods and services by simply holding their smartphone over a PayPass contactless payment terminal. Additionally, users will have the advantage of a virtual MasterCard account, linked directly to the Cash on Tap App, which can be used to shop online just like a plastic MasterCard.