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From April 2014 many shoppers will be able to pay for items using just their mobile phone number. Great news for ecommerce website owners in Berkshire and beyond, find out how your business can benefit from mobile payments.

How Will Mobile Phone Online Payments Work?

From the 29th April, consumers will be able to transfer money and make payments using mobile phone numbers. This service is called “Paym” (pronounced “pay em”).

There are a small number of steps involved when making online payments via your mobile phone. These are:

  1. Users will have to log into their bank’s mobile banking app using their pass code as normal to send money.
  2. The recipient of the payments is then selected. This is done by typing in the recipient’s phone number or by looking them up from existing contacts from the phone’s memory.
  3. After choosing the correct recipient, the sender will have to double check the amount of money they wish to send. They will also have to enter a reference for the payment, such as “dinner”. All they have to do after that is to hit send.
  4. A confirmation message will then be sent to the sender letting them know their payment has been sent.
  5. The money will then appear in the recipient’s bank account

In order to use Paym, both senders and receivers will have to register online via the Paym website. Customers can register in advance from Wednesday April 2nd.

If you wish to use Paym, you will still need to use your bank’s mobile banking app. Luckily, most major high street banks have embraced Paym including Barclays, The Bank of Scotland HSBC, Lloyds and Halifax. More banks, including RBS and Natwest, will be joining the scheme later in the year.

Users who only wish to receive payments can still use Paym without a Smartphone. They will however, still have to register their mobile number.

How Secure Is Paym?

Because Paym requires the use of your bank’s official mobile banking app, it is very secure. All mobile apps are password protected and Paym is designed to integrate securely with participting mobile banking apps.

Paym uses mobile phone numbers rather than account information, such as sort codes and account numbers. As such, you can transfer money to friends, family and traders in the knowledge that your bank details are secure.

If your mobile phone is stolen, Paym will still require the password or security code for your mobile banking app, so would be thieves or fraudsters won’t be able to make any transfers without this information.

Because Paym has been developed with major high street banks it is afforded the same legal protection as current accounts and other forms of online payment. This makes it a safe and simple payment method for ecommerce websites to take advantage of.

Store Express For Ecommerce Websites

Whether you are new to selling online or are looking to revamp your existing site, Store Express can provide you with a complete ecommerce solution to get you started. A leading ecommerce website design company based in Berkshire, we can help you to make money online. Easily integrated with online marketplaces and a number of payment gateways, a Store Express solution is all you need to start a successful online business.

For more information on Store Express ecommerce solutions, call today on 0845 050 3500 or email sales@storeexpress.co.uk.

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