What is PayNow? How Singapore's instant payments work
By SendPay Business · · 2 min read
PayNow is Singapore's instant payment service. Launched by the country's banks in 2017, it lets people and businesses send Singapore dollars to each other using a mobile number, an NRIC or FIN number, or a company's UEN, instead of a bank account number.
How a PayNow payment works
- The receiver links their mobile number, NRIC/FIN or UEN to their bank account.
- The payer opens their bank app and enters that number or scans a PayNow QR code.
- The app shows the registered name so the payer can check it.
- The money arrives in seconds.
PayNow QR for businesses
Shops and businesses can display a PayNow QR code, often as part of Singapore's common SGQR label. Customers scan it with their bank app to pay.
Cross-border links
PayNow has been linked with instant payment systems in some other countries, including Thailand's PromptPay and India's UPI, so users of participating banks can send money between those countries by phone number.
Where SendPay fits
SendPay platforms do not connect to PayNow. They include GBP, EUR and USD accounts and international transfers under your own brand, powered by licensed partners.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.