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| Payments via mobile number to start this month | Payments via mobile number to start this month |
| (about 9 hours later) | |
| Bank customers will be able to make payments via mobile numbers from 29 April, the Payments Council has announced. | |
| Customers will also be able to register for the new Paym service - pronounced "Pay Em"- from Wednesday 2 April. | Customers will also be able to register for the new Paym service - pronounced "Pay Em"- from Wednesday 2 April. |
| The system means that anyone wanting to make a payment no longer has to ask for a bank account number and sort code. | The system means that anyone wanting to make a payment no longer has to ask for a bank account number and sort code. |
| Providing both parties are registered, the payment can be made via a mobile phone number. | Providing both parties are registered, the payment can be made via a mobile phone number. |
| Customers of the following banks can now register to link their mobile number with their bank account: Bank of Scotland, Barclays, Cumberland Building Society, Halifax, HSBC, Lloyds, Santander and TSB. | Customers of the following banks can now register to link their mobile number with their bank account: Bank of Scotland, Barclays, Cumberland Building Society, Halifax, HSBC, Lloyds, Santander and TSB. |
| Neil Aitken, from the Payments Council, told BBC Radio 5 live that the system was secure. | |
| "The only thing that people would be able to do if they got your mobile number is pay you - it will be integrated in to your existing banking app so it's password protected," he said. | |
| Other banks - including NatWest, RBS and First Direct - will join the scheme later in the year. | Other banks - including NatWest, RBS and First Direct - will join the scheme later in the year. |
| Those wishing to make payments via mobile phone numbers will still need to use their banking apps, which require customers to log on to their accounts. | Those wishing to make payments via mobile phone numbers will still need to use their banking apps, which require customers to log on to their accounts. |
| Account-holders will need to visit their own bank's website for more details. | Account-holders will need to visit their own bank's website for more details. |
| Similar systems have already been introduced by Barclays and RBS NatWest. | Similar systems have already been introduced by Barclays and RBS NatWest. |
| How will it work? | |
| Bank or building society account holders will first need to register their mobile phone number and the relevant account they want to use. | |
| People who wish only to receive money this way will be able to use the system, even if their phone is not a smartphone and they do not use mobile banking. | |
| Current levels of security will apply and payments will not be possible without an app's pass code being entered. |