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I have been looking at using Paym to receive payments from customers.
It looks quite a good system and becoming more popular. Once registered, the customer only requires your mobile number to make the payment.
As far as I can tell payment will be in your bank within a couple of hours.
There are no charges for receiving such payments.
References can be included to associate payment with customer/repair.
The customer only needs you mobile number instead of full bank details to make payment.The only thing I am having trouble finding out is whether the recipient receives immediate notification once payment is made. Does anyone know if this is received as it’s impractical for business use if you have to wait up to 2 hours for confirmation?
Re: Does anyone use Paym to receive payments
Hi
We use SWIPE as there is no monthly charge and only requires a mobile phone signal. e mails & texts to advise when monies are paid into your main bank account.
You can set it up so that the customer is charged for the transaction charges also.Bryan
Re: Does anyone use Paym to receive payments
What are Paym’s charges? Their website makes no mention of charges and nothing in life is free. What’s the catch here?
Re: Does anyone use Paym to receive payments
It is free. I suspect they bank on a small proportion of payees forgetting to set up to receive the payment, leaving the sending bank in profit. A bit like gift cards, 6{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of the value of which is never used, leaving the shop in profit.
Re: Does anyone use Paym to receive payments
r600a wrote:
We use SWIPE as there is no monthly charge and only requires a mobile phone signal. e mails & texts to advise when monies are paid into your main bank account.
You can set it up so that the customer is charged for the transaction charges also.I will take a look at this.
Re: Does anyone use Paym to receive payments
Why not just use one of the Paypal mobile things or the plethora of others you can get?
Most payment services offer it but it’s a minefield these days in my view, so many services are available now and sussing what’s good, bad or indifferent I expect is pretty tough.
We currently use First Data who have been good. Charges are low but it takes a few working days for the cash to show up in your account however, if you can live with that the charges drop.
I believe there’s also one of the payments people at the conference in Feb that is actually offering a very attractive deal that day, cash back and whatever. I wasn’t paying too much attention to it as mobile payment isn’t really relevant to myself but it was said that it was a good deal.
Might be worth asking about that as I know Lawrence uses that service and rates it highly.
K.
Re: Does anyone use Paym to receive payments
I looked t a few alternatives like Paypal but I think the process of generating an online invoice and putting through Paypal and then the customer receiving and going through the payment process followed by confirming the payment was received would be quite time consuming when you’re on the road.
If I remember correctly SWIP, although there is no setup charge there was a small fee for the reader. There is also about a 3.5{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} transaction charge.
One concern was whether customers would be hesitant entering there PIN into your mobile phone.
The other concern was at the time I looked into this I was with Orange and the data signal in my area was appalling. As a rule the mobile phone signal is less erratic.
With Paym it is completely free, there’s no additional equipment required and no data connection required. You don’t need a merchant account which keeps accounting to a minimum. Providing a customer is registered to use this system it couldn’t be simpler.
According to the Bank it is becoming more popular and more people are registering to use it.
I wonder if this could be a payment method of the future.Re: Does anyone use Paym to receive payments
Twoten wrote:Providing a customer is registered to use this system it couldn’t be simpler.
Ah! That’s where you will have a problem. Asking your customer to register, download the app or whatever hoops they have first to jump through in order to pay some stranger in their house for sorting out the washing machine. I for one couldn’t be fagged to do that, cheque or credit card terminal or BACS at a push.
Re: Does anyone use Paym to receive payments
I use Paypal Here system.
It’s a one off payment for the card machine of about £60, then charges of 2.5{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of each transaction (which is passed on to the customer).Couldn’t be simpler, anyone with an existing paypal account can just send the payment to your email address if you want to do it that way. It’s pretty instant and you get notifications of who has paid what.
If you use the card machine, it connects to your phone and then works like any other machine. Pretty painless once set up. Money goes through the same way.For someone like me who only occasionally takes cards then it’s perfect.
I used to have a Worldpay terminal and all the associated charges and hassle that went with it..all gone thank God!
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