PrePay Solutions has revealed that it is powering the payment technology behind EE’s Cash on Tap service mobile payments solution, which launches today. PrePay Solutions will be providing e-Money issuing and transaction processing services for Cash on Tap.

This will be supported through a proprietary mobile application service that enables a mobile app and NFC-enabled phone to provide an extensive set of payment options, including NFC payments through MasterCard PayPass; online payments via a virtual MasterCard; storing credit and debit card details; loading funds from bank transfer, debit and credit cards; customer balance enquiry and transaction history. The service comes in the form of an Android app, available initially to EE customers on a monthly contract using selected 4G EE handsets.

Cash on Tap users will 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.