Prepay Solutions Powers Cash On Tap

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.