Tag: Paym

Mobile payments service Paym reaches new milestone

| February 6, 2015

Paym records more than $39 million in mobile transactions

Paym, a mobile payments service in the United Kingdom, has announced that its users have made more than $39 million in transactions since the service was launched in April o last year. Consumers can use Paym to make purchases or transfer money to their friends and family. The service has experienced strong growth over the past several months, becoming one of the more popular mobile payments services that is currently available in the United Kingdom.

Service now has nearly 2 million users that are participating in mobile payments

According to Paym, the service now boasts of nearly 2 million users. The service has won strong support because it is compatible with a wide range of financial institutions throughout the country. Banks showing support for Paym has made it possible for their customers to participate in mobile payments, which is becoming a popular practice among consumers. The demand for mobile payments support coming from consumers has encouraged banks to embrace services like Paym, which allow these banks to accommodate consumer interest.

66% of UK population claims to be aware of mobile payments

Mobile Payments - SurveyA recent survey commissioned by Paym found that approximately 66% of the population of the United Kingdom is aware of mobile payments. Of these, 52% of consumers are aware of Paym. Awareness of mobile payments has been growing relatively modestly over the past few years, though as people become more aware of this practice they are showing strong favor for it. Paym is beginning to attract more attention because of the growing awareness of mobile payments.

Paym may experience some strong competition once Apple launches its mobile payments service in the UK

Paym is not the only mobile payments service that is available in the United Kingdom, but it is one of the most popular. The service is expected to continue attractive users over the coming months, reaching new heights of success and establishing a strong foothold in the competitive mobile commerce market. Paym may experience some turbulence from Apple Pay, which is expected to launch in the United Kingdom later this year.

UK banks align with mobile payments service

| October 17, 2014

20 UK banks announce their support for the Paym mobile payments service

Several new financial institutions have aligned themselves with Paym, a mobile payments service launched by the UK Payments Council. Paym has been gaining more support within the financial service industry in recent months, with several of the United Kingdom’s largest banks signing up for the service. The service aims to accommodate the growing demand for mobile commerce in the UK and provides consumers with a person-to-person payment option that is mobile-centric in nature.

Bank customers will be able to issue a mobile payment using their mobile number

Clydesdale Bank, Isle of Man Bank, NatWest, the Royal Bank of Scotland, and Yorkshire Bank are among the new organizations that will be supporting Paym. Customers of these banks will be able to use Paym to make mobile payments. The UK Payments Council suggests that Paym is the first service that could potentially link every existing UK bank account to a mobile number.

1.5 million people have registered for Paym since its launch in April of this year

Mobile Payments - UK BanksPaym was launched in April of this year and boasts nearly 1.5 million customers. These people have registered their bank accounts with the service, enabling them to use their mobile number to make payments in an efficient and secure manner. The second phase of Paym’s launch is expected to occur later in the year, with more banks announcing their support for the payments service and promoting Paym to their customers.

Paym expected to clash with Apple Pay when it is launched in November

The United Kingdom has become a very active mobile commerce market, largely due to the high degree of smartphone penetration among consumers. The country’s mobile market is currently crowded with a wide variety of services, but none of these services have yet become mainstream among consumers. Paym aims to provide these consumers with a reliable and secure service that they can use as they see fit. The service is currently competing with various others and is expected to clash with Apple Pay, which is expected to launch at some point in November.