Hello Chris,
I have done quite a bit of research into the Dundee tribute and there are one or two things about this example that give me pause for thought.
The Dundee medal was unusual in that it was presented on departure rather than return. As you will probably be aware, Payne's service records indicate that he left for South Africa on 21 Oct 1899, long before the idea of a Dundee medal had been mooted. After serving in South Africa, he sailed with his regiment directly to India, and on completion of military service settled in South Africa. So, I'm not sure when a presentation would have taken place.
As far as I am aware the Dundee medals were given pretty much exclusively to members of the three Volunteer Active Service Companies, the Cyclist Company and a few men who volunteered for service with the R.A.M.C. The exceptions are the two presentations to Militia officers. I have seen no evidence to suggest that any regulars received the gift.
As David points out these medals were issued unnamed. The suspension is also atypical.
Neville