The Zync Wallet app, developed by CloudZync, will eliminate the need for physical wallets in participating shops and send exclusive offers straight to the user’s phone.
The app will also log customers’ spend in shops so they are able to take advantage of any loyalty schemes on offer.
Around 280 independent merchants such as coffee shops and hairdressers, primarily based in London, are already signed up to the scheme.
Andrew Smith, 36, who co-founded the company along with Mark Seddon, 29, said he was....