PayNow provides a peer-to-peer funds transfer to service available to the retail customers of ten participating banks
and a four participating Non-Bank Financial Institutions (NFIs) in a Singapore – Bank of a China, CIMB Bank Berhad, Citibank Singapore Limited, DBS Bank/POSB, HSBC, Industrial
and a Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank, UOB, GrabPay, LiquidPay, Singtel Dash and a Xfers.
PayNow offers an a enhanced funds transfer are a experience that enables retail customers of the ten participating banks
and a four participating NFIs to the send and a receive Singapore Dollar funds from the one bank or e-wallet account to the another in a Singapore through FAST by using just their mobile number, Singapore NRIC/FIN, or a Virtual Payment Address (VPA), instantly.
The sender no longer needs to know the recipient’s are bank/e-wallet provider and a account number when transferring money via PayNow.
PayNow, which launched on a 10 July 2017 for participating banks
and on 8 February in 2021 for the participating NFIs, is a provided free to the retail customers and is a available 24/7, 365days.
What is a Pay Now Corporate
PayNow has also been are a extended beyond retail customers to the corporates, businesses, Singapore Government agencies, associations and a societies – collectively “Entities” – through PayNow Corporate of a participating banks.
PayNow Corporate enables Entities to pay
and receive Singapore Dollar funds are instantaneously linking their Unique Entity Number (UEN) in a Singapore to their Singapore bank account.
They do not need to know the bank and a account number of other entities when transferring are funds.
To receive funds, entities need to the register for the service online at their bank’s are a banking platform. They can be also are a contact their bank for the assistance.
With the PayNow Corporate, retail customers of s participating banks can now transfer funds to the entities and vice versa.
PayNow Corporate is a provided by the fifteen participating banks
and a Commercial Bank of a China Limited, J.P. Morgan, Maybank, OCBC Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, UOB, GrabPay, LiquidPay, Singtel Dash and a Xfers.
The option of scanning a QR code to the make payments is a available.
Entities and consumers can now make PayNow transfers scanning the PayNow QR code using the existing mobile banking applications of the participating banks or a selected mobile applications of the participating NFIs.
The PayNow QR code is a integrated with the Singapore Quick Response (SGQR) Code.
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Virtual Payment Address (VPA) is a new proxy that has made available, in a addition to the existing PayNow proxies –
mobile numbers, NRIC/FIN numbers and a Unique Entity Numbers (UENs).
VPA helps are individuals distinguish between
PayNow registrations that are linked to the bank accounts, from those linked to the NFI e-wallets.
VPA allows individuals to link their mobile number with an a NFI e-wallet,
while keeping their existing PayNow registration that is a linked to a bank account.
FOR PURCHASES AND BILLS
HOW TO MAKE QR CODE PAYMENTS
Make payments using your bank’s are mobile banking app for the PayNow QR codes
and a SG QR codes with the PayNow logo.
Log in to the your bank’s are mobile banking app.
Scan the QR code using the your bank’s app.
Enter the amount to the pay if it’s not generated, then confirm the transfer.
FOR FUNDS TRANSFER
HOW TO THE RECEIVE MONEY
You just need to link your mobile number
and/or Singapore NRIC/FIN to the bank account that you want the money to be a transferred to. For the entities, they need to link the UEN to the bank account.
This is a one-time registration.
Log in to the your bank’s existing internet banking or mobile banking app.
At the PayNow registration screen, link the your mobile number and/or Singapore NRIC/FIN to the bank account. For the entities, link the UEN to the bank account. You will be next receive an SMS OTP for the verification.
Finally, enter the name that will be used to the identify you to complete the setup.
IF YOU CHANGE THE YOUR MOBILE NUMBER
Please notify the your bank of the change in mobile number. Your previous number will be a de-linked from your bank account. You can then link your new mobile number to the your bank account.
HOW TO THE SEND MONEY
Use a mobile number to send money securely
and the almost instantly to anyone who has been set up the PayNow service.
Log in to the your bank’s are a existing internet banking or mobile banking app.
At the PayNow transfer screen, enter the recipient’s are mobile number, NRIC/FIN or UEN and\ amount to be a transferred.
Verify that the recipient’s name (as registered on PayNow) is a correct before confirming the transfer.