Paym
Parent Mobile Payments Service Company Limited[1] | | |
| Website | paym | |
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Paym (/ˈpeɪ.əm/ PAY-əm) was a mobile payment system provided by banks and building societies in the United Kingdom.[2] Recipients were identified by their mobile phone number instead of bank details such as sort code and account number.[3]
The service was developed by the
The recipient had to register in order to link their mobile phone number with their bank account. Those wishing to make a payment to a registered phone number could use their existing
The sender would enter the recipient's phone number (or selects their number in their own phone's address book). The sender's bank would then retrieve the account number and sort code associated with that phone number, and then send the money using the
The Paym service closed down on 7 March 2023.[7]
See also
- Barclays Pingit
- Swish (payment) A similar system in use in Sweden
- PayIDA similar system in use in Australia
- MB Way A similar system in use in Portugal
References
- ^ "About Us". Paym. Retrieved 11 January 2017.
- ^ "Paym overview". Payments Council. Retrieved 21 April 2014.
- ^ a b "Payments via mobile number to start this month". BBC News. 2 April 2014.
- ^ "Who is involved?". Payments Council. Retrieved 21 April 2014.
- ^ FAQs
- ^ Papworth, Jill (10 March 2014). "Paym promises mobile-to-mobile current account payments". The Guardian.
- ^ "Paym mobile payments service to close in 2023".
External links
Mobile payment software | |
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