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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 29th Apr 14, 3:23 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Mobile-to-mobile payments start today but how does Paym work?
    • #1
    • 29th Apr 14, 3:23 PM
    MSE News: Mobile-to-mobile payments start today but how does Paym work? 29th Apr 14 at 3:23 PM
    Millions of smartphone users can now pay for goods and services simply by using the recipient's mobile phone number

    Read the full story:

    Mobile-to-mobile payments start today but how does Paym work?




    Click reply below to discuss. If you havent already, join the forum to reply. If you arent sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • bsms1147
    • By bsms1147 29th Apr 14, 3:24 PM
    • 2,054 Posts
    • 3,660 Thanks
    bsms1147
    • #2
    • 29th Apr 14, 3:24 PM
    • #2
    • 29th Apr 14, 3:24 PM
    The same way that magnets work
    • Steve059
    • By Steve059 29th Apr 14, 3:56 PM
    • 2,336 Posts
    • 6,159 Thanks
    Steve059
    • #3
    • 29th Apr 14, 3:56 PM
    • #3
    • 29th Apr 14, 3:56 PM
    Has the first scam payment request been received yet?
    If you fold it in half, will an Audi A4 fit in a Citroen C5?
    • Butterfly Brain
    • By Butterfly Brain 29th Apr 14, 4:40 PM
    • 8,736 Posts
    • 61,001 Thanks
    Butterfly Brain
    • #4
    • 29th Apr 14, 4:40 PM
    • #4
    • 29th Apr 14, 4:40 PM
    Mobile banking of any sort is still not secure enough.
    Cash is king!
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
  • innovate
    • #5
    • 29th Apr 14, 5:41 PM
    • #5
    • 29th Apr 14, 5:41 PM
    Has the first scam payment request been received yet?
    Originally posted by Steve059
    Just in case it has not: 07891-456789. Please give generously.
  • innovate
    • #6
    • 29th Apr 14, 5:43 PM
    • #6
    • 29th Apr 14, 5:43 PM
    Mobile banking of any sort is still not secure enough.
    Originally posted by Butterfly Brain
    Not secure enough for what? And how isn't it secure enough?
    • backinbusiness
    • By backinbusiness 29th Apr 14, 6:09 PM
    • 739 Posts
    • 1,117 Thanks
    backinbusiness
    • #7
    • 29th Apr 14, 6:09 PM
    • #7
    • 29th Apr 14, 6:09 PM
    Doesn't seem to be working for HBoS??
    DF
  • innovate
    • #8
    • 29th Apr 14, 6:20 PM
    • #8
    • 29th Apr 14, 6:20 PM
    http://www.bankofscotland.co.uk/aboutonline/pay-a-contact/?srnum=1


    http://www.halifax.co.uk/aboutonline/why-bank-online/pay-a-contact/?srnum=1

    What is not working?
    • backinbusiness
    • By backinbusiness 29th Apr 14, 7:35 PM
    • 739 Posts
    • 1,117 Thanks
    backinbusiness
    • #9
    • 29th Apr 14, 7:35 PM
    • #9
    • 29th Apr 14, 7:35 PM
    I can read, thanks.

    Paym hasn't been made live on the HBoS platforms yet.
    DF
    • bestyman
    • By bestyman 29th Apr 14, 10:24 PM
    • 1,096 Posts
    • 401 Thanks
    bestyman
    Saucer of milk to go with comments, anyone?
    On the internet you can be anything you want.It`s strange so many people choose to be rude and stupid.
    • Pincher
    • By Pincher 29th Apr 14, 11:19 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    As far as I know, I registered to RECEIVE ONLY on Paym.

    How can it go wrong?

    Like Anti-matter, I postulate the existence of Anti-Money.

    So, if I have 3,000 in my account, and somebody pays me
    -1,000 , my account will become 2,000.
    • Archi Bald
    • By Archi Bald 29th Apr 14, 11:22 PM
    • 9,376 Posts
    • 7,432 Thanks
    Archi Bald

    So, if I have 3,000 in my account, and somebody pays me
    -1,000 , my account will become 2,000.
    Originally posted by Pincher
    Can I have some of what you are drinking/smoking? Sounds potent stuff.
    • john1002
    • By john1002 30th Apr 14, 7:27 AM
    • 959 Posts
    • 390 Thanks
    john1002
    anyone know if the co op will be getting the service, no mention in the news story? or timescale?

    thanks

    john
  • notexpert
    Privacy and security
    But how does it actually *work* behind the scenes?

    Is there one massive database which maps from "mobile phone number" to "personal name AND bank AND sort code AND account number" ? That would represent a massive potential privacy issue.

    I hope it's implemented better than that, does anyone know the details of how it works?
    • happenstance
    • By happenstance 30th Apr 14, 1:19 PM
    • 365 Posts
    • 300 Thanks
    happenstance
    All it is is linking phone number to a bank account.

    Sounds more trouble than its worth.

    Bring on cryptocurencies.
    • Pincher
    • By Pincher 30th Apr 14, 2:24 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    http://www.rotherhamadvertiser.co.uk/news/96127/rotherham-phone-scam-gang-face-jail.aspx

    This is not a paym scam, but could easily have been. You and Yours (BBC Radio 4) did a feature on this scam, on 14th April 2014. The call centre recorded Kaleem's voice pretending to be the real owner to get the phone account swapped over to his phones.

    With a Paym scam, an interesting scenario is, what if they think the police is on their heels, so they:

    1. Think they need a Fall Guy.

    2. Randomly choose a number with a Paym registration, which happens to be mine.

    3. Transfer money from a few victim accounts into MY account.

    4. Eventually, the police knock on my door, and arrest me for receiving proceeds of fraud.

    As far as the police is concerned, I'm an accessory who agreed to process the money.
  • innovate
    So has anyone got an answer to MSE's question yet - "how does Paym work?"
  • innovate
    [URL]

    With a Paym scam, an interesting scenario is, what if they think the police is on their heels, so they:

    1. Think they need a Fall Guy.

    2. Randomly choose a number with a Paym registration, which happens to be mine.

    3. Transfer money from a few victim accounts into MY account.

    4. Eventually, the police knock on my door, and arrest me for receiving proceeds of fraud.

    As far as the police is concerned, I'm an accessory who agreed to process the money.
    Originally posted by Pincher
    No police would ever be knocking on your door if you reported unexpected payments to your bank, as they appear, and in writing.

    If you did get police calling and couldn't show your written rejections of the unexpected payments, the police investigation would be warranted.

    Though most likely you would have just had your account closed, with nobody knocking on your door about it, and without anyone ever telling you why your account had been closed.
  • Wee_Fifer
    Just a wee update. i've found with Santander that currently PAYM only works with personal banking, if you have a business account you can receive payments by paym once phone is registered, but you cant pay someone from it using paym. Might be the same for other business users.
    • mattdickinson
    • By mattdickinson 1st May 14, 7:37 PM
    • 28 Posts
    • 16 Thanks
    mattdickinson
    There seem to be two approachs to implementing sending PAYM;

    i) Lloyds/TSB/Halifax/BOS: through desktop internet banking and a mobile app that basically uses that.

    pros: can send PAYM from desktop or mobile
    cons: can't access mobile address book; have to go through security to set up a new PAYM payee

    ii) HSBC/Santander/Barclays: through a secure mobile app

    pros: can access mobile address book; don't have to go through added security

    cons: can't send from desktop

    not sure about Cumberland or Danske....
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