The guy in travel bum is using this camera around his neck. Its much smaller than SLR cameras, has interchangable lenses (it looks like he uses a 50mm, which is a very short lens) and does not look so professional.
He is also using a sennheiser mic of some sort, worn on his body (at one point a girl asks him what it is). I think its this one.
He also uses a canon 5D (you can usually tell when he is shooting the 5D, due to the depth of field and his ability to "pull focus" on the fly. Most of his really tight shots, beauty shots, and filler are him using the 5D.
The guy has a lot of skill in composition, has a good voice, and shoots a tonne of footage.
As far as paying the women goes, I think the approaches he does on the street are legit, but he probably gets his erotic models off of
Model Mayhem. There are a lot of models that are willing to work for next to no money if they can get good footage and images for their demos and portfolios.
I even see some do it for free.
Also a tactic that I see the guy Andy employ is him giving the girl the camera at the start. Most women when they look through the camera are pretty unimpressed by the whole thing and get bored quickly. After this, they are more likely to forget about the camera.