My friend recently booked for a in show in Theatre Royal-Glasgow scheduled to be held this weekend for his family and also for my family. When I gave him the money for the theatre tickets he did not accept it. Then I thought of PayM-a mobile payment facility whereby we can transfer money instantly to another person’s UK bank account by just typing their mobile number in our mobile banking app without knowing any of their bank account details.
Within minutes of me doing this money transfer, my friend phoned me asking how I had credited his bank account ( he had just then received a text alert on his mobile from his bank which showed that I had paid into his account ) without him ever divulging his bank account details to me. I told him about this PayM service and added that I also use it for paying Sundry domestic service people like Window cleaners & Handyman by transferring money to their bank account just with their mobile numbers.
To receive money into your bank account through PayM from your friends, you don’t have to be an online-banking or mobile banking enabled customer whereas for making the transfer through PayM you need to have these e-services enabled in your bank account. Upto 1.6 million people in UK have so far registered for this PayM service.