What is Paym?
Paym lets you transfer money using only a mobile number.
This means you don’t need your payee’s bank details to make a transfer – and it doesn’t matter who they bank with. Plus, it's free and secure to use.
If you opt in, we'll share your full name, mobile number, sort code and account number with the Mobile Payments Service Company, who run Paym on behalf of the Payments Council.
Your details will be stored in a central database which all participating financial services institutions can access when they need to process a payment made using Paym.
Your full name will be displayed to other Paym users, including customers of other financial services institutions, showing you've registered for Paym. They'll only be able to see your name if they already know your mobile number.
You’ll need a UK mobile number to register for Paym, and you can only register with one bank or building society at a time.