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IREU Top500 The Customer Report: 2018

IREU Top500 The Customer Report: 2018

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Paym extended to more customers through new roster of banks

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Paym extended to more customers through new roster of banks
Paym extended to more customers through new roster of banks
Customers of Clydesdale Bank, Isle of Man Bank, NatWest, Royal Bank of Scotland, Ulster Bank and Yorkshire Bank can register for Paym from Tuesday 18 November, adding to the number of leading UK banks and building societies offering the secure way to pay using just a mobile number.


Isle of Man Bank, NatWest, RBS and Ulster Bank customers are able to receive Paym payments from today with the ability to send payments coming for these customers from the middle of 2015. Customers of Clydesdale Bank and Yorkshire Bank are able to send and receive Paym payments from today. They join Bank of Scotland, Barclays, Cumberland Building Society, Danske Bank, first direct, Halifax, HSBC, Lloyds Bank, Santander and TSB in offering Paym – which is the first mobile payment service with the potential to link up every current account in the country with a mobile number.

Since the Paym service launched in April this year 1.6 million customers have registered their mobile number with their bank or building society to receive payments through Paym – and more than £15million has been sent. The roll-out will continue with Ipagoo, Metro Bank, Nationwide Building Society and Tesco Bank all planning to join from next year onwards.

Paym is integrated into customers’ existing mobile banking or payment apps as an additional way to pay, making it possible to send and receive payments to friends and family using just a mobile number. More than 40 million customers are now able to register for Paym - representing over nine out of ten current accounts.

Maurice Cleaves, Interim Chief Executive of the Payments Council, said: “Paying back a friend using their mobile number is as easy as sending a text, so it’s no surprise that 1.6 million people have signed up for Paym since it launched in April. More banks joining today is great news for customers and we look forward to the service continuing to grow through 2015 and beyond.”
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