Research shows that paym (pay-mobile) service is to be popular with younger Brits

According to research by digital banking technology company –  Intelligent Environments; more than 4 million 18-30 year olds in the UK have an interest in transferring money via a mobile number. The research comes to light as The Payments Council launches the new Paym  (pay-mobile) mobile payments service. This allows users to make payments directly to friends and family using their mobile number.

Head of strategy and innovation at Intelligent Environments, Simon Cadbury, said that younger consumers will embrace any technology that makes managing their finances easier.

Do you trust mobile devices for transferring money? Would you be open to using paym services if they were offered to you? Let us know what you think!