You can now use Paym to transfer money with just a mobile number in the UK


Right on schedule, the Payments Council today launched its new Paym mobile-to-mobile bank transfer service in the UK. Once you’ve contacted your bank and registered your phone number, other people can transfer money into your account without specifying a sort code or account number. Likewise, you can send money to any contact in your address book that has already paired their bank account with Paym. Thankfully, all Paym-supported transfers are conducted through existing payments and mobile banking apps in the UK, so there’s no need to download yet another rarely-used app for your smartphone or tablet. Most major UK banks...

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