Company Information

Get to know Paym

Paym was a mobile payment system in the United Kingdom that launched in April 2014. Operated by Pay.UK, the service enabled customers of participating UK banks and building societies to send payments to others using only their mobile phone number as a proxy for their bank account details. The system worked on top of the existing Faster Payments Service infrastructure. Due to a significant decline in usage and the widespread adoption of alternative payment methods offered directly by banks, the Paym service was officially closed on 7 March 2023.

Industry

Financial Electronic PaymentPRIMARY
Financial Banking
Financial Other Service

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Paym

United Kingdom

Founded in

2013 (13 Years)

Founded

Last online: No recent activity

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Markets.com

(327 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.