Paym: Difference between revisions
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imported>Doug Williamson (Linked to The Treasurers Handbook - Payments and payment systems) |
imported>Doug Williamson (Add quote about discontinuance - source - Pay.UK - https://newseventsinsights.wearepay.uk/media-centre/press-releases/paym-mobile-payments-service-to-close-in-2023/) |
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(Pronounced Pay Em). | (Pronounced Pay Em). | ||
A system for making and receiving payments securely using | A UK system for making and receiving payments securely using the mobile phone number of the recipient. | ||
Launched by the Payments Council in | Launched by the former Payments Council in 2014. | ||
:<span style="color:#4B0082">'''''Paym closes in 2023'''''</span> | |||
:"Paym, the mobile payments service, will close permanently to customers on 7 March 2023. | |||
:[The] decision reflects the rapid evolution in payments technology and services since Paym’s launch in 2014. Payment volumes through Paym have diminished over the past three years as fewer people sign up to use the service. | |||
:There is a shift by UK consumers towards newer forms of mobile payment and access to Faster Payments through online banking. These changes in consumer preferences build on the foundation created by Paym to offer ever faster and better ways to move money and support everyday lives." | |||
:''Pay.UK - press release - September 2022.'' | |||
==See also== | ==See also== | ||
* [[e-banking]] | |||
* [[Faster Payments]] | |||
* [[M-commerce]] | |||
* [[Mobile payment]] | |||
* [[Online]] | |||
* [[Payments Council]] | * [[Payments Council]] | ||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Pay.UK]] | |||
* [[Smartphone]] | |||
[[Category:Cash_management]] | [[Category:Cash_management]] | ||
Latest revision as of 19:59, 1 October 2022
(Pronounced Pay Em).
A UK system for making and receiving payments securely using the mobile phone number of the recipient.
Launched by the former Payments Council in 2014.
- Paym closes in 2023
- "Paym, the mobile payments service, will close permanently to customers on 7 March 2023.
- [The] decision reflects the rapid evolution in payments technology and services since Paym’s launch in 2014. Payment volumes through Paym have diminished over the past three years as fewer people sign up to use the service.
- There is a shift by UK consumers towards newer forms of mobile payment and access to Faster Payments through online banking. These changes in consumer preferences build on the foundation created by Paym to offer ever faster and better ways to move money and support everyday lives."
- Pay.UK - press release - September 2022.
