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India Payments

Singapore’s PayNow to Link Up With India’s UPI for Real-Time Payments by 2022

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India announced plans to link Singapore’s PayNow and India’s Unified Payments Interface (UPI) real-time payment systems by July 2022. The PayNow-UPI linkage will enable users to make instant, low

Mobile Payments

Non-Bank E-Wallets GrabPay, LiquidPay and Singtel’s Dash to Offer PayNow

The Association of Banks in Singapore (ABS) announced that for the first time PayNow has been made available to three non-bank Financial Institutions (NFIs) namely Grab Financial Group, Liquid Group and Singtel’s Dash effective from today onwards. The addition of

Payments

E-Wallets Will Soon Have Access to E-Payment Platforms FAST and PayNow

The Monetary Authority of Singapore (MAS) announced that non-bank financial institutions (NFIs) that are licensed as a major payment institution under the Payment Services Act, will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow from

Mobile Payments

PayNow Increases Default Limit for Ad-Hoc Transactions up to S$200,000

The Association of Banks in Singapore (ABS) announced that all of the nine participating PayNow banks will allow ad-hoc transactions of at least S$5,000 or more. This will enable customers to use PayNow, an electronic fund transfer service, for a

Various

DBS’ QR Ang Bao Solution Now Open to All Singaporeans with a PayNow Account

Following the success of last year’s DBS QR Ang Baos which saw over SGD 1.5 million loaded during Chinese New Year in 2019, DBS is reintroducing an enhanced version which includes new functions that they say will deliver greater convenience

Mobile Payments

PayNow QR is The Latest to Adopt SGQR, Singapore’s Unified Payment QR Code

The Association of Banks in Singapore (ABS) announced yesterday that PayNow QR will adopt the Singapore Quick Response Code (SGQR) specifications, enabling businesses to collect payments via PayNow through the national unified payment QR code, SGQR. The adoption of the

Mobile Payments

Singaporeans Transacted Over 1 Billion SGD Per Month on PayNow

The Association of Banks in Singapore (ABS) announced today that the value of PayNow transactions per month has crossed the S$1 billion mark for three consecutive months since July. This significant milestone, highlights the growing ubiquity of PayNow for payment

Mobile Payments

Maybank Now Lets Merchants Issue Unique PayNow QR Codes for Individual Invoices

Maybank Singapore teams ups with Malaysia-based fintech company Financio to offer customers invoices attached with dynamic QR Code that embeds the company’s UEN, payer name, invoice number and payment amount, using the Maybank PayNow system. The goal is to allow business

InsurTech

PayNow Collaborates with Digital Insurer and DBS

The digital insurer FWD and DBS Bank collaborating to provide electronic payment of claims via PayNow. PayNow is an electronic fund transfer service available to customers of any of the seven participating banks: Citibank Singapore Limited, DBS Bank/POSB, HSBC, Maybank,

Mobile Payments

OCBC Bank makes PayNow even more seamless by enabling account-to-account QR code transfers

By innovatively marrying QR codes with PayNow’s infrastructure, OCBC Bank has delivered a new level of convenience to funds transfers. PayNow did away with the need to know bank account numbers and “adding payees” when making funds transfers. The OCBC