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PayNow is a peer-to-peer funds transfer service available to retail customers of nine participating banks and three participating Non-Financial Institutions (NFIs) – Bank of China, Citibank Singapore, DBS / POSB Bank, HSBC, Industrial and Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank, UOB, GrabPay, LiquidPay and Singtel Dash.

PayNow offers an enhanced funds transfer experience that enables retail customers of the nine participating banks and three participating NFIs to send and receive Singapore Dollar funds from one bank or e-wallet account to another in Singapore through FAST by using just their mobile number, Singapore NRIC/FIN, or Virtual Payment Address (VPA), instantly. The sender no longer needs to know the recipient’s bank/e-wallet provider and account number when transferring money via PayNow.

PayNow, which launched on 10 July 2017 for participating banks and on 8 February 2021 for participating NFIs, is provided free to retail customers and is available 24/7, 365days.

PayNow is now extended beyond retail customers to corporates, businesses, Singapore Government agencies, associations and societies – collectively “Entities” – through PayNow Corporate of participating banks.

PayNow Corporate enables Entities to pay and receive Singapore Dollar funds instantaneously by linking their Unique Entity Number (UEN) issued in Singapore to their Singapore bank account. They do not need to know the bank and account number of other entities when transferring funds.

To receive funds, entities need to register for the service online at their bank’s banking platform. They can also contact their bank for assistance.

With PayNow Corporate, retail customers of participating banks can now transfer funds to entities and vice versa.

PayNow Corporate is provided by the nine PayNow participating banks.

The option of scanning a QR code to make payments is available. Entities and consumers can now make PayNow transfers by scanning the PayNow QR code using the existing mobile banking applications of the participating banks or selected mobile applications of the participating NFIs.

The PayNow QR code is integrated with the Singapore Quick Response (SGQR) Code.

Virtual Payment Address (VPA) is a new proxy that has been made available, in addition to the existing PayNow proxies - mobile numbers, NRIC/FIN numbers and Unique Entity Numbers (UENs). VPA helps individuals distinguish between PayNow registrations that are linked to bank accounts, from those linked to NFI e-wallets. VPA allows individuals to link their mobile number with an NFI e-wallet, while keeping their existing PayNow registration that is linked to a bank account.




Make payments using your bank’s mobile banking app for PayNow QR codes and SG QR codes with the PayNow logo.

Step 1:Log in to your bank’s mobile banking app.

Step 2:Scan the QR code using your bank’s app.

Step 3:Enter the amount to pay if it’s not generated, then confirm the transfer.



You just need to link your mobile number and/or Singapore NRIC/FIN to the bank account that you want the money to be transferred to. For entities, they need to link the UEN to the bank account. This is a one-time registration.

Step 1:Log in to your bank’s existing internet banking or mobile banking app.

Step 2:At the PayNow registration screen, link your mobile number and/or Singapore NRIC/FIN to the bank account. For entities, link the UEN to the bank account. You will next receive an SMS OTP for verification.

Step 3:Finally, enter the name that will be used to identify you to complete the setup.


Please notify your bank of the change in mobile number. Your previous number will be de-linked from your bank account. You can then link your new mobile number to your bank account.


Use a mobile number to send money securely and almost instantly to anyone who has set up the PayNow service.

Step 1:Log in to your bank’s existing internet banking or mobile banking app.

Step 2:At the PayNow transfer screen, enter the recipient’s mobile number, NRIC/FIN or UEN and the amount to be transferred.

Step 3:Verify that the recipient’s name (as registered on PayNow) is correct before confirming the transfer.

PayNow Fact Sheet


PayNow InfoGraphic

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