The U.K. may be getting a new mobile money platform, one that could link every major British bank and serve as an example for how financial institutions can work together to make mobile payments a reality.

According to Sky News, the new payment service, called Zapp, will be announced tomorrow by VocaLink, the ATM and payment network owned collectively by British banks. The Zapp service will use mobile phone numbers linked to bank accounts to facilitate everything from bill payment to peer-to-peer payments.

The platform has received £16 million in funding from VocaLink, and will need £100 million to launch in 2014.

Read more about money transfer/P2P.