PayNow is an innovative payment system that allows users to make payments in seconds through their mobile phones. Opening a PayNow account can be done within minutes and is completely free. The registration process is simple and doesn’t require bank details or personal information. Registering for PayNow does not require any identity check, but for added convenience, you can set up SMS verification to protect your account from unauthorized access. This article explains what PayNow is, how it works and how you can benefit from using the service. Read on to learn more.
What is Paynow?
Picture this scene; you are out with your friends for dinner, and you have to split the bill. It may be a bit uncomfortable to pull your wallets out while the waiter stands there. Pay now makes the process much more accessible and saves you the effort. PayNow is a fast, easy and secure way to transfer money. It’s a service offered by Singtel that connects your bank account with your mobile number to provide a safe and convenient way to make payments through your mobile phone. The Association of Banks in Singapore (ABS) launched this payment transfer service in 2017 with nine participating banks. Paynow is available on the Singtel Mobile App (download for free from Google Play or Apple App Store) and at any Singtel Customer Service Centre. More than 100 banks are supported on PayNow, so you can use this service with your existing bank account, even if it’s not with Singtel.
How does PayNow work?
PayNow is a service that allows users to transfer funds from their mobile phone to another person’s mobile phone. The recipient can then withdraw the money at any Singtel outlet or use it for online payments through an e-commerce site. The app currently only supports Singtel, with other telecommunications providers expected to be introduced in the near future.
What are the benefits of PayNow?
PayNow is a simple, convenient, and fast way to do your transactions. It does not require bank or credit card information, making it easier for you to pay for goods and services. You can also use Paynow when shopping online to avoid the hassle of inputting your credit card details.
- This method of funds transfer eliminates the hassle of getting bank details. You can send funds easily by using the recipient’s mobile number or the Singapore NRIC/FIN.
- Paynow is safe and secure. The system is built on high-security standards that cannot be tampered with, so you are sure that your transactions are fully secured.
- Paynow offers a faster payout from government agencies and businesses that you will otherwise not get from a traditional bank to bank transfers.
- You can also share a transaction receipt with your payee. That is possible by tapping the share icon on the top right of the page.
You can also choose to set up SMS verification if you want added security – just tap “Register”> “Verification” on the app home screen and follow the instructions on the page. There are no costs associated with SMS verification.
How to register for PayNow in Singapore
There are several ways to register for Paynow. You can sign up online through your internet banking services. It will link your bank account to your newly created Paynow account, your mobile number as well as your NRIC number. If you are a resident of Singapore and currently have an existing Singtel Mobile Account, the process to register for PayNow is as easy as 1-2-3.
- Make sure you have an existing Singtel Mobile Account
- Download the Paynow app from the app store
- Tap “Register” on the home screen of the app
Fun fact: PayNow is not only limited to individuals Businesses and corporations are also eligible to use paynow services as well as Singapore government agencies and associations. To do this, use PayNow Corporate. It allows businesses and corporations to link their Singapore-issued Unique Entity Number with their bank account to send and receive funds.
Make Sure You Have an Existing SingTel Mobile Account
To register for Paynow, you’ll need an existing Singtel Mobile Account. Even if you’re not a Singtel customer, you can set up this account easily through the app. If you don’t have one, make sure to apply before starting the registration process.
- Enter your mobile number and click “Submit.”
- You will receive a verification code on your mobile phone
- Enter the verification code and click “Submit.”
- Check your verification email that was sent to your registered email address
- Click on the link in the email and confirm that it’s checked
- Populate your personal information required by PayNow and provide a security question
- Confirm your password
- Click “submit.”
Download the app from the App Store
Paynow has a mobile application that sends and receives funds wherever you are without any stress. To download the mobile application, check your google play or apple app store.
Here’s how to register for Pay Now in Singapore via mobile application:
- Make sure you have an existing Singtel Mobile Account
- Download the Paynow app from the App Store
- Tap “Register” on the home screen of the app
- Fill in your mobile number and set up your password
- Set your preferred language and click “Save.”
- Select “PayNow” as your default payment method and click “Save” again
- Click on the menu icon at the top left, then tap “Add Bank Account.”
- Enter your bank account details, including banking name and account number, and tap “Submit.”
- Wait while they verify that your bank account is active
Tap “Register” on the Home Screen of the App
After downloading the application from your app store, proceed to this next set of steps to register on the app’s Home Screen.
- Tap “Register” on the app’s Home Screen and choose your preferred language.
- Enter a mobile number and select your country or region.
- Enter your Singtel Mobile Number and tap “I’m not a Singtel customer.”
- Enter the mobile number you want to receive verification from and tap “Next.”
- You will receive an SMS with a four-digit code. Enter it and tap “Submit.”
- You will now be prompted with some terms of use. Scroll down and accept them by tapping “I agree.” Tap “Next” if you’re ready to complete registration; otherwise, go back to step 1.
There you go, a complete registration process in just a few steps. From here on, making transfers should be a walk in the park.
For Digibank users, learn how to create a PayNow QR code below to ease your transfers.
How to make PayNow QR code with DBS/POSB Digibank?
You can easily get a QR code that can further ease your funds’ transfer. To do this, follow the steps below:
- Log in to your Digibank account
- Click on the menu so that it slides out from left to right, then click transfer/Paynow
- Continue to click on the QR code on the top right of your page to access the “scan and pay” selection
- Then click on “my QR code” to create your QR code registered on Paynow. You can scan the QR to make payment.
Conclusion
Sending and receiving money in Singapore has never been so easy. Registering for PayNow is easy and convenient. You are no more waiting in line or queuing up for the bank to open! With the SingTel PayNow app, you can pay for your purchases at your convenience and be on your way. The app is now available on the App Store, and you can register for it in less than 5 minutes. Simply download the app, tap “Register” on the Home Screen of the App, sign up with your SingTel mobile number, and follow the simple steps. If you have any further questions or run into any problems while registering, please check the official PayNow Singapore website. Thank you for reading.