PAYM System Closing

Rob5342

A lot of them let you send them easily, but as far as I know none of the apps let you import the details once you've received them.

AmityNeon

EarthBoy said:

jon81uk said:

sausage_time said:

Sad to see it go. I did use it from time to time, and for at hoc payments to people I know there's no real generic alternative.

But for most people it was easy to just say my sort code is XX-XX-XX and my account is XXXXXXX in a text message to a friend.Quicker than checking to see if they are registered for PayM or not.
Or some people just say Paypal it to my email X@X.com.

A lot of banks now let you send your bank details to someone in a message without you having to type them out.

Lloyds, Halifax, Barclays, Starling, Nationwide, and TSB all have this facility. 

We still have to make do with app-switching, and then either copying/pasting the different fields or remembering/verifying the digits.

It's convenient to just ask (sometimes verbally), "can I pay your mobile number?", and that's it, because banking apps can access your phone's contacts. Brilliant when it works... but frustrating when most people are not registered and what usually ensues is a laundry list of potential payment methods/platforms before finally settling on full name + sort code + account number. 😐

These days, there are probably similar numbers of mobile phones as there are bank accounts, and the majority of people own both, so Paym as a concept should be immensely successful. It's just a shame there was no coordinated industry push to market, but then again, its failure is likely down to no capital players actually benefitting financially from doing so (unlike closed platforms controlled by individual companies).

Brie

I was surprised to hear about this method of payment recently when I was overseas as I had never heard of it in the UK.  And considering that I have worked in the finance industry for the last couple of decades at least it seems I might have heard it discussed at work at some point.  So yes - in my opinion it's the lack of marketing that has led to its failure.  

sausage_time

flo22 said:

jon81uk said:

sausage_time said:

Sad to see it go. I did use it from time to time, and for at hoc payments to people I know there's no real generic alternative.

BACs transfer is the main alternative. 

FPS not Bacs

Still a pain having to type 14 digits on a phone screen in a dimly lit pub for a one-off payment to a friend I already have in my phone book

RBS have  "PayMe" in their app which shows a one-off QR code to ask for a specific amount.  Not sure what the sender  sees when they scan it, but will try sometime.   Still a bit ad hoc, and not some kind of industry standard (which PayM was).

https://www.supportcentre-rbs.co.uk/Searchable/1750272962/What-is-PayMe-Ask-for-payment.htm

k_man

AmityNeon said:

EarthBoy said:

jon81uk said:

sausage_time said:

Sad to see it go. I did use it from time to time, and for at hoc payments to people I know there's no real generic alternative.

But for most people it was easy to just say my sort code is XX-XX-XX and my account is XXXXXXX in a text message to a friend.Quicker than checking to see if they are registered for PayM or not.
Or some people just say Paypal it to my email X@X.com.

A lot of banks now let you send your bank details to someone in a message without you having to type them out.

Lloyds, Halifax, Barclays, Starling, Nationwide, and TSB all have this facility. 

We still have to make do with app-switching, and then either copying/pasting the different fields or remembering/verifying the digits.

It's convenient to just ask (sometimes verbally), "can I pay your mobile number?", and that's it, because banking apps can access your phone's contacts. Brilliant when it works... but frustrating when most people are not registered and what usually ensues is a laundry list of potential payment methods/platforms before finally settling on full name + sort code + account number. 😐

These days, there are probably similar numbers of mobile phones as there are bank accounts, and the majority of people own both, so Paym as a concept should be immensely successful. It's just a shame there was no coordinated industry push to market, but then again, its failure is likely down to no capital players actually benefitting financially from doing so (unlike closed platforms controlled by individual companies).

Chase appears to be able to paste in all the details automatically into the right fields, from a shared account details message.

Have used it a few times when adding new payees

RN61

Rob5342 said:

Monzo and Starling are good as you can find people nearby to pay, and Monzo syncs with your contacts list too.

I was going to say that it's something that Whatsapp should implement as that's taken over from text messages as the standard message platform, but it looks like they already have in some countries. Hopefully they'll roll it out here.

Oh yes. Like in China where something similar has effectively replaced actual money and can be turned on and off to control individuals. And in Canada to break the truckers strike

sausage_time

k_man said:

AmityNeon said:

EarthBoy said:

jon81uk said:

sausage_time said:

Sad to see it go. I did use it from time to time, and for at hoc payments to people I know there's no real generic alternative.

But for most people it was easy to just say my sort code is XX-XX-XX and my account is XXXXXXX in a text message to a friend.Quicker than checking to see if they are registered for PayM or not.
Or some people just say Paypal it to my email X@X.com.

A lot of banks now let you send your bank details to someone in a message without you having to type them out.

Lloyds, Halifax, Barclays, Starling, Nationwide, and TSB all have this facility. 

We still have to make do with app-switching, and then either copying/pasting the different fields or remembering/verifying the digits.

It's convenient to just ask (sometimes verbally), "can I pay your mobile number?", and that's it, because banking apps can access your phone's contacts. Brilliant when it works... but frustrating when most people are not registered and what usually ensues is a laundry list of potential payment methods/platforms before finally settling on full name + sort code + account number. 😐

These days, there are probably similar numbers of mobile phones as there are bank accounts, and the majority of people own both, so Paym as a concept should be immensely successful. It's just a shame there was no coordinated industry push to market, but then again, its failure is likely down to no capital players actually benefitting financially from doing so (unlike closed platforms controlled by individual companies).

Chase appears to be able to paste in all the details automatically into the right fields, from a shared account details message.

Have used it a few times when adding new payees

Just tried this on Chase app, works well!  Thanks.

pridehappy

I've been notified by Nationwide that this service is stopping due to a lack of users, in other words, there aren't enough people using PayM to make it profitable or stable. Just using a sort code/account number is alright and if you can't remember it, most banks offer the facility to text it to someone from the app anytime.

sausage_time

sausage_time said:

flo22 said:

jon81uk said:

sausage_time said:

Sad to see it go. I did use it from time to time, and for at hoc payments to people I know there's no real generic alternative.

BACs transfer is the main alternative. 

FPS not Bacs

Still a pain having to type 14 digits on a phone screen in a dimly lit pub for a one-off payment to a friend I already have in my phone book

RBS have  "PayMe" in their app which shows a one-off QR code to ask for a specific amount.  Not sure what the sender  sees when they scan it, but will try sometime.   Still a bit ad hoc, and not some kind of industry standard (which PayM was).

https://www.supportcentre-rbs.co.uk/Searchable/1750272962/What-is-PayMe-Ask-for-payment.htm

RBS now also have a way of sharing a QR Code (or link) from the app that lets people make ad hoc payments of their choosing using NatWest/RBS "Payit".  Looks interesing.  https://www.natwest.com/business/business-services/payit.html

From their FAQ:

Below is a list of the banks and account providers that are currently connected to Payit™:

• AIB
• Bank of Ireland
• Barclays
• Danske Bank
• First Direct
• First Trust 
• HSBC
• M&S Bank
• Monzo 
• Nationwide
• NatWest
• RBS
• Revolut
• Tesco Bank
• TSB
• Ulster Bank

Not quite a universal solution (nor was Paym), but better than faffing around with account numbers and sort codes.

DailyHail

sausage_time said:

Still a pain having to type 14 digits on a phone screen in a dimly lit pub for a one-off payment to a friend I already have in my phone book

Surely this would only matter if your phone screen was on the dimmest possible setting, regardless of how dimly lit a pub is? If you’re that concerned… whack the brightness up a touch!