Usage of Paym mobile payment service nearly doubling every six months

  • £146m sent since Paym launched, with more money sent since July 2015 than in the whole of the previous year

Mobile payments are continuing to increase in popularity according to new figures published today (Tuesday 9 February 2016) by Paym, the easy way to send money using just a mobile number.
The number of Paym payments sent is almost doubling every six months, with 1.46m payments sent in the second half of 2015 compared to 774,628 in the first six months – an increase of 89%. 

More than £146m has been sent using Paym since the service launched in April 2014, with more money sent in the last six months of 2015 than in the previous twelve months1. The average transaction value of a Paym payment dipped below £50 for the first time in the last three months of 2015, with £49.48 being sent on average, suggesting a move towards the service being used more often for smaller, everyday amounts. 

Paym transactions – volume and value
  Volume % change Value % change
July - Dec 2014 431,069    £23,241,596  
Jan - Jun 2015 774,628 +79%  £44,006,817 +89%
July - Dec 2015 1,464,508 +89% £76,248,526 +73%


The number of mobile phone numbers registered for Paym also continues to increase strongly, with 624,420 people registering with their bank or building society in the second half of 2015. A total of 3.2 million people2 had registered for Paym with one of the 17 participating banks and building societies by the end of December 2015.

The latest research also sheds some light on the demographic and behavioural patterns of Paym users, with men much more active when it comes to sending payments. It seems the vast majority (68%) of Paym payments are sent by men; this compares with a much more even gender split amongst people who have registered to receive payments – 56% of the mobile numbers registered for Paym belong to men, compared to 44% for women.  

Petrol money, splitting bills, IOUs and other household costs remain amongst the most popular reasons to use Paym, with almost a quarter of users saying they have used Paym for one of these reasons. Contributing to a group present was the single most popular reason for making a Paym payment for the first time - perhaps indicating the growing popularity of buying Christmas gifts in this way. The popularity of using Paym to pay a small business is also increasing – 13% of people who use Paym have paid a small business using their mobile number. 

Craig Tillotson, Chairman of Paym, said:

“Paym makes settling up with friends, family and even small businesses easy – all you need is their mobile number, so it’s no wonder the service is becoming more popular. 

“More Paym payments were made in the last six months than the whole previous year, so it seems plenty of people have cottoned on to using their contacts for more than calls and texts. Paym means all you need is a mobile number to securely send payments straight to another bank account whenever and where you want, using your own bank’s app.”   

More than 40 million customers representing over nine out of 10 current accounts are able to register for Paym. Find out how the service works and how to register at

The February 2016 Paym Statistical Update is available to download from