Paym (/ˈpeɪ.əm/ PAY-əm) is a mobile payment system provided by banks and building societies in the United Kingdom. Recipients are identified by their mobile phone number instead of bank details such as sort code and account number. The recipient must register in order to link their mobile phone number with their bank account. Those wishing to make a payment to a registered phone number can use their existing mobile banking or online banking service. Payments made through Paym take place at the same speeds as existing Faster Payments or LINK payment mechanisms.
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