11
PRO INSTALLER AUGUST 2015
PRO NEWS
@proinstaller1
Make chasing payments
a thing of the past
Being an independent tradesperson can give you real insight into people’s home
lives; some customers are organised and some are definitely not! However,
when it comes to paying, unprepared clients who have no cash on them can
cause a huge headache. Not only does this mean you have spent hours working
in their home, but now you have to come back to chase for payment.
If this feels like an all too
familiar experience, you are
certainly not alone. Each
month Britain’s sole traders
chase an average of £200 in
late payments because their
customers don’t have cash
on them. As UK consumers
spend an average of £354 a
year on builders and £175 a
year on fitters, these costs,
along with time wasted chasing money, can soon add up.
However, for independent
tradespeople and their customers
there is a simple solution as bills
can now be settled cash-free with
the simple, secure and reliable
mobile-to-mobile payment service
called Paym.
For self-employed tradespeople it
is the smart way of getting paid as
it doesn’t involve cash, cheques
or debit and credit cards. The idea
behind Paym couldn’t be simpler;
money is paid straight into your
bank account using just your mobile phone number.
A mobile phone is an essential
item for running a small business
– getting your phone number
known by clients is an important
way of marketing your business,
and now it can be a hassle free
way of collecting payment too.
There is no need to give out your
sort code, account number or any
other bank details.
Most payments arrive in seconds and are sent through Faster
Payments or LINK at the same
speeds as existing current account,
online, and mobile payments.
Most importantly is that right now
it’s free for customers to use, and
included within the normal costs
of running your business current
account making it both a time
and budget-efficient way of doing
business.
Three simple steps
to start receiving
money via Paym:
1. Before you use Paym, register your mobile number with
your bank, building society or
payment provider and nominate
the account you want to link it
to
2. Your customers can then pay
directly into your account using
just your mobile number – no
need for sort codes or account
numbers
3. With lots of banks and
building societies that offer
the service, you will receive an
immediate alert to let you know
you have received money into
your account
Paym is designed to be accessed through your bank or
building society’s existing mobile
banking or payments app, so it’s
easy, quick and secure.
Better Business
There are no daily limits for
receiving payments, which
makes this the smart way
of collecting your hard-earned
money whilst on the move. All
banks and building societies allow
customers to send £250 per day,
although some allow more.
‘More than 40
million customers
are now able to
register for Paym’
Who can use Paym?
More than 40 million customers
are now able to register for Paym,
which means nine in 10 people
that have current accounts are
able to use the service. Customers of Bank of Scotland, Barclays,
Clydesdale Bank, Cumberland
Building Society, Danske Bank,
first direct, Halifax, HSBC, Isle of
Man Bank, Lloyds Bank, Nationwide Building Society, NatWest,
Santander, TSB, Ulster Bank and
Yorkshire Bank are able to send
and receive Paym payments. RBS
As part of your service to
customers, you can download the
Paym Mark logo for use on your
business card, website or other
promotional materials to instantly
tell your customers that you
accept Paym payments. The Paym
Mark is available to download
once terms and conditions have
been accepted.
customers are able to receive
Paym payments with the ability to
send payments coming soon for
these customers.
You can register multiple mobile
numbers to one account and each
number can be registered once.
Contact your bank or building
society to check if it offers Paym
registrations for business accounts.
For more information visit www.
paym.co.uk/paym-businesses