What does Paym mean for your business?

Today a new payment method called Paym was launched. Paym connects your mobile number to your bank account, via your banking app. Its backed by the big banks so it sounds legit and a great option to get paid if you run your own business. Super fast, cheaper payment. Great! But what does it mean for your business?

Nothing! Paym is person to person only and restricts you using it for your business, and its capped at £250 per transaction. If you use it for paying services you will be warned and banned. Boo!

But don’t worry, later this year some of the big banks are launching a similar service for business and SmartTrade will be getting involved in new services like these to make it cheaper and easier to get paid by customers.

Stay tuned on this blog!

Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp

Leave a Reply

Your email address will not be published. Required fields are marked *

Simplypayme logo for cookie popup

This website uses cookies to ensure you get the best experience on our website.