PayNow

PayNow, managed by the Association Bank of Singapore (ABS) and overseen by the Monetary Authority of Singapore (MAS), operates as a payment method based in Singapore.

This real-time payment network enables customers from both banks and non-bank financial institutions participating in the program to conduct transactions through their preferred apps.

Merchants get access to over 70% of Singaporeans with PayNow. Individuals and businesses can register for this service using various identifiers like their mobile number, Singapore NRIC/FIN, UEN business registration number, or Virtual Payment Address (VPA, designed specifically for NFI accounts such as eWallets).

By utilizing the FAST network, a regulated and standardized payment infrastructure, users can seamlessly transfer SGD funds between different bank or e-wallet accounts within Singapore, ensuring interoperability across various payment providers.

This payment method could be relevant for your business if you sell to clients in the following countries or regions:

Singapore