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PayNow Corporate Merchant Acquisition Details

Merchants and corporates which are looking for alternative arrangements for payment collection may reach out to your bank’s relationship or sales manager. Alternatively, you may contact any PayNow bank listed in the table below which contains the contact numbers, emails, links to useful information as well as lead time needed for you to be onboarded. PayNow Corporate enables merchants/corporates to pay and receive Singapore Dollar funds instantaneously by linking their Unique Entity Number (UEN) issued in Singapore to their Singapore bank account as well as to have the option of receiving funds via PayNow QR. To receive funds, merchants/corporates need to register for the service online at their bank’s internet banking or mobile platform.

PayNow Corporate
Bank Contact Number(s) Email(s) URL to useful information
(for merchants to find out more)
Leadtime for existing-to-bank merchants
to be onboarded
Bank of China 1800 669 5566 Email here Link here PayNow Corporate Registration: Instant
Citibank +65 6224 2622 Email here Link here PayNow Corporate Registration: 3 Business Days
SGQR sticker: within 2 - 2.5 weeks
DBS Bank 1800 222 2200
+65 6222 2200
Email here Link 1
Link 2
PayNow Corporate Registration: Instant
SGQR sticker: 5 to 10 business days
HSBC +65 6658 2288 Email here Link here PayNow Corporate Registration: Instant
(2 days if paper form)
SGQR sticker / terminal: 5 - 7 business days
ICBC +65 6436 6508
+65 6671 4784
+65 6709 1376
Email 1
Email 2
Email 3
Link 1
Link 2
PayNow Corporate Registration: Instant
SGQR sticker: 2 weeks
Maybank Singapore Limited 1800 777 0022
(65) 777 0022 (Overseas)
Email here Link here PayNow Corporate Registration: Instant
SGQR sticker / terminal: Approximately 3 weeks
OCBC Bank +65 6538 1111 Link here Link here PayNow Corporate Registration: Instant
SGQR sticker: Within 10 business days
Standard Chartered Bank +65 8269 2888 Email here Link here PayNow Corporate Registration: Instant
SGQR sticker: 7 – 10 days
United Overseas Bank 1800 226 6121 Email here Link here PayNow Corporate Registration: Instant

If merchants/corporates prefer credit card solutions, the contact details are also available in a subsequent table.

Credit Card Services Merchant Acquisition
Bank Contact Number(s) Email(s) URL to useful information
(for merchants to find out more)
Leadtime for existing-to-bank merchants
to be onboarded
Bank of China 1800 338 5335 Email here Link here 3 weeks - 1 month
DBS Bank 1800 834 1852 Email here Link 1
Link 2
Upon complete submission of the applications,
merchants will notified on the status within 5 working days
HSBC +65 6658 2288 Email here Link here HSBC does not provide for Merchant Acquisition services.
10 to 15 days (HSBC Omni Collect)
Maybank Singapore
Limited
+65 6550 7234
+65 6550 7606
+65 6550 7337
Email here Contact or email us to
find out more
details on our offer.
Approximately 3 weeks
OCBC Bank +65 6530 1652 Email here Link here 7 to 10 days onboarding with completed full documentation
Standard Chartered Bank +65 8269 2888 Email here
United Overseas Bank +65 6355 6850 Email here Link here 3 to 8 weeks depending on merchants’ requirements and submission of required docs for processing

Carry on with PayNow – Reward Programme Details

A big thank you to all businesses for your continued support to drive payments collections with PayNow Corporate.

The ABS is pleased to share that the Carry on with PayNow SME incentives has now been officially concluded. Qualifying SMEs may wish to refer to the below table mapping the value date to the incentives.

S/N Value Date Campaign Amount per qualifying proxy
1 06 Oct 2020 Carry On With PayNow Campaign – SME PayNow Corporate Sign Up S$ 25
2 23 Oct 2020 Carry On With PayNow Campaign – SME Collections Period 1: 9 April 2020 to 31 May 2020 (both dates inclusive) S$ 25
3 30 Oct 2020 Carry On With PayNow Campaign – SME Collections Period 2: 1 June 2020 to 31 July 2020 (both dates inclusive) S$ 25

We hope that companies in Singapore can continue to encourage payment collections via PayNow Corporate to move us along the national path towards an economy that is less dependent on cheque and cash transactions as well as physical contact points.

For more information, merchants may also refer to the T&Cs below, and on the list of 9 banks in the table above should you require assistance with using PayNow Corporate.

Carry on with PayNow – Lucky Draw Winners - Week 1 to 10

What is PayNow

PayNow is a peer-to-peer funds transfer service available to retail customers of nine participating banks in Singapore – Bank of China, Citibank Singapore Limited, DBS Bank/POSB, HSBC, Industrial and Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank, and UOB.

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

PayNow, launched on 10 July 2017 is provided free to retail customers and is available 24/7, 365 days.

What is PayNow Corporate

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.

PayNow QR

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.

The PayNow QR code will be integrated with the Singapore Quick Response Code (SGQR) when it is launched later this year.

 

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FOR PURCHASES AND BILLS

HOW TO MAKE QR CODE PAYMENTS

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.

FOR FUNDS TRANSFER

HOW TO 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 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.

IF YOU CHANGE YOUR MOBILE NUMBER
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.

HOW TO SEND money

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

Media releases

 

PAYNOW IS OFFERED BY THESE PARTICIPATING BANKS