With large numbers of social housing tenants without bank
accounts and regular internet access, you'd be forgiven for thinking the launch
of a new mobile money transfer service, Paym, would have passed the housing
sector by without a second glance. But the growth in mobile payments is not
just fuelling the latest consumer craze: it's also helping to bridge the
digital and financial divide and becoming an important budgeting tool, giving
residents choice, convenience and control over their finances. In 2012, a free
app was launched which allowed social housing residents to pay their rent with
their smartphone. To date it has collected more than £50m in council tax and
rent payments, and can represent between 1% and 5% of a social landlord's total
transactions – a significant figure in a sector where more than 60% currently
pay their rent in cash. Read more on the Guardian website.
