What is PayNow? How Singapore's instant payments work
By SendPay Business · · 2 min read
- 1Pick who to pay and type the amount
- 2Tap send and it is on its way
- 3It lands in their account
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.
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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.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
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Spotted a mistake or something out of date? and we'll fix it. How our guides are made
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. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.