What is PayNow?
PayNow is an electronic fund transfer service that allows you to transfer SGD funds instantly to a payee, using the payee’s designated mobile number or NRIC/FIN or UEN number or Virtual Payment Address (VPA) instead of his/her bank account number.
A payee can receive funds via PayNow as long as he/she has a Singapore bank account with one of the PayNow participating banks or wallets, and has registered his mobile number, UEN, NRIC/FIN or VPA as a PayNow Proxy with the participating bank or wallets.
a new one.
By: Karen Category: