A new service called Paym has launched in the UK this week, designed to make payments to friends a family a lot easier by allowing users to pay money to a mobile number instead of the usual sort code and account number.

To use the service, a customer simply needs to register their phone number and account with their bank or building society, after which they will be able to pay money to any registered account through their existing mobile banking or payment applications.

This will however work with only a select few banks and building society’s, which currently includes Barclays, Bank of Scotland, Halifax, TSB, Lloyds Bank, Santander, and a few more.

You can find out more about the service and Paym at the source link below.

Source Paym

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