Zapp, a new company allowing consumers to link their mobile phone numbers to their bank account to make peer-to-peer payments, announced its system will be built on Oracle technology.

An independent subsidiary of London-based Vocalink, Zapp will allow users to check their account balances and make real-time payments with a mobile device. The company plans to launch its offering to financial institutions and merchants by the end of the year and to consumers by early 2014.

"Zapp represents the cutting edge of mobile payments innovation and we are delighted to be a part of the cooperative effort which deploys Oracle's hardware and software to power the Zapp technology," says Dermot O'Kelly, senior vice president and U.K. country manager at Oracle, in a July 17 press release. "We have an unrivalled reputation for reliability and security in payment systems and we look forward to using our expertise to deliver Zapp into the market in 2014."

Oracle’s database brings data encryption and analytics to Zapp's mobile payments system.

Zapp will integrate with mobile and online checkouts and work with Near Field Communication technology, QR codes and other systems the retailer implements at the point of sale.

Zapp's model of linking directly to bank accounts instead of working with a card network is part of a slowly evolving trend. Recently six Polish banks created a joint venture which connects a bank account to a mobile phone number. Barclays also offers a mobile payment system in the U.K. that allows person-to-person money transfer and point of sale payments.

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