DBS PayNow Corporate

DBS PayNow Corporate

Make and receive payments seamlessly
*For PayNow lookup and incoming PayNow transations.

DBS PayNow Corporate

Make and receive payments seamlessly
*For PayNow lookup and incoming PayNow transations.

At a glance

With PayNow Corporate, you can make and receive payments instantly with just your Unique Entity Number (UEN), without the need to know or disclose any account numbers. PayNow Corporate is available for FAST and GIRO transactions. 

Why PayNow Corporate
Secure Payments

Secure payments

Receive payments directly into your bank account with just your UEN.

Simple transactions

Simple transactions

With no account numbers required, making payments to individuals and businesses has never been simpler.

Seamless process

Seamless process

Use a QR code to facilitate instant transactions through Scan & Pay.

What you can do
Receive payments with PayNow Corporate
receive step1

STEP 1
Publish your UEN or QR code on your website, other online channels, or on your invoices


receive step2

STEP 2
Be notified of inward credits. All PayNow transactions will be displayed on DBS IDEAL and your account statements


Useful for

  • Merchant payments
  • Bill payments
  • Invoice payments
Make payments with PayNow Corporate
pay step1

STEP 1
Pay businesses or individuals by using PayNow registered proxies such as UEN or NRIC / mobile number


pay step2

STEP 2
Receive notifications of successful transactions


Useful for

  • Business / Invoice payments 
  • Claims / Ad hoc payments 
How to apply
I’m new to DBS

Open a DBS Corporate Account and request for DBS IDEAL access here.

Existing DBS account and DBS IDEAL user

Step 1: Log in to DBS IDEAL using your company’s Organisation ID, User ID, and PIN. 

Step 2: Go to the menu “Administration” and click on “Manage PayNow” to register your UEN1 for PayNow Corporate

Click here to find out how to register on DBS IDEAL.


1Add a 3-digit alpha-numeric suffix to your company’s UEN to create multiple PayNow proxies, which can be linked to multiple bank accounts.

Click here to view DBS PayNow Terms and Conditions.

FAQs
What is PayNow Corporate?

What is PayNow Corporate? 

With PayNow Corporate, you can make and receive payments instantly with just your Unique Entity Number (UEN), without the need to know or disclose any account numbers. PayNow Corporate is available for FAST and GIRO transactions.

What are the currencies supported by PayNow? 

Only Singapore Dollar fund transfer is available for PayNow. 


What is the transfer limit for a PayNow fund transfer? 

 FAST Real Time Transactions SGD 200,000
GIRO Transactions Unlimited


Can I make a PayNow fund transfer to a non-participating bank? 

PayNow fund transfer can only be made to a PayNow participating bank. 

Register for PayNow

Who is eligible to register for PayNow Corporate?

  1. Singapore incorporated entities, government agencies, associations, and societies which have a UEN issued in Singapore; and have
  2. Singapore bank accounts with one of the PayNow participating banks1.

19 PayNow Corporate participating banks are DBS Bank, Bank of China, Citibank Singapore Limited, HSBC, Industrial and Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank and UOB.


How can I register for PayNow Corporate?

It’s simple. Simply log onto DBS IDEAL and register for PayNow instantly!


What types of bank accounts can I link my UEN to?

DBS Multi-Currency Accounts (SGD wallet), SGD Current Accounts, Digital Accounts and Autosave Accounts.


Can I register for PayNow Corporate for multiple bank accounts? 

Yes, you can add a 3-digit alpha-numeric suffix to your company’s UEN to create multiple PayNow proxies, which can be linked to multiple bank accounts. For example, for UEN “123456789X” and a 3-digit alphanumeric suffix of “a12”, the proxy will be “123456789Xa12”. 


Can I link the same proxy to different accounts? 

No, the same proxy cannot be linked to multiple accounts. 1 unique proxy can only be linked to 1 account. 


Can I link my company’s proxy to my personal account when I register for PayNow Corporate? 

No, a company’s proxy cannot be linked to a personal account. Find out more about using PayNow for your personal accounts here


Can I link my company’s proxy to an account belonging to a subsidiary? 

No, your company’s UEN cannot be linked to other entities’ accounts. 


My company is not incorporated in Singapore. Can I register for PayNow Corporate? 

PayNow Corporate is currently only available for entities incorporated in Singapore. 


Can I register for PayNow Corporate with multiple participating banks? 

Yes, you can register for PayNow with multiple participating banks by using different proxies. 

Receive with PayNow

How can I receive payments with PayNow Corporate? 

You can publish your UEN or your PayNow QR code on your bill, invoice, business card, website, app, email and even at in-store counter. Businesses can pay to your UEN via internet / mobile banking; individuals can scan your QR using mobile banking app from any PayNow participating banks. 


How will I be notified if a PayNow payment is received? 

Incoming PayNow FAST and GIRO transactions will be reflected on your bank account statements via DBS IDEAL or IDEAL Connect. 
If you have subscribed to eAlerts via DBS IDEAL, you will be able to receive email confirmation for incoming PayNow transactions. 


What information will be reflected on my bank account statement? 

When you receive PayNow payments, the following will be reflected on your bank statement on DBS IDEAL: 

Inward PayNow 
<Customer reference 1> <Payer bank transaction reference> 
<Purpose code description> 
<Payer name> 
SGD <Amount> 

1Customer reference is the reference entered by the payer or embedded in the PayNow QR. Field length is 25 characters. 


Will the bank account statement entry reflect PayNow proxy details? 

No, PayNow proxy details will not be available in the bank account statement for incoming PayNow transactions as the payer’s bank does not pass the proxy details to the beneficiary’s bank during PayNow transactions. 


How do I identify payer and payment details like invoice number? 

Payer name (i.e. Payer’s account name as per bank record) will be reflected in your bank account statement for incoming PayNow transactions. 

For successful PayNow transactions, the reference numbers (entered by the payer or embedded in the PayNow QR) will be shown on the bank account statement for reconciliation purposes. 


Are there changes in the MT940 account statements for PayNow receipts? 

Yes, the narration will be “Inward PayNow”. 


For unidentified receipts, what is the process of returning the funds? 

It will be the same as any unidentified receipts today. 

Pay with PayNow

How can I make payments with PayNow Corporate? 

You can make single or bulk PayNow payments through the following channels: 

DBS IDEAL  Single or bulk payments
IDEAL Mobile  Single payment 
IDEAL RAPID Real-time API-based single or bulk payments 
IDEAL Connect  IDEAL Connect Host-to-host bulk payments 


You can choose to have the payment processed through FAST or GIRO. 

For single PayNow payments, simply send your payment instruction through DBS IDEAL, IDEAL Mobile or IDEAL RAPID. 

For bulk payments, simply upload the UFF file (with updated file format). 


Can the same payment file contain PayNow-GIRO, PayNow-FAST and GIRO payment?

The same payment file may contain PayNow-GIRO and PayNow-FAST transactions in different batches. GIRO Payment is to be sent in a separate file. 


Who can I make PayNow payments to? 

You can make PayNow payments to beneficiaries who have registered for PayNow with their NRIC / mobile number (individuals), or UEN (businesses). 


What will happen if my beneficiary’s NRIC / mobile number or UEN is not registered for PayNow? 

  • For single PayNow payment, you will be alerted on the system if the beneficiary is not registered for PayNow after keying in the respective proxy value (NRIC, Mobile or UEN) when initiating the PayNow payment. 

  • For bulk file PayNow payments, you will be notified of the unsuccessful PayNow transactions via the return file for the beneficiaries who are not registered for PayNow. 


What are the cut-off times for PayNow Corporate payments? 

PayNow FAST 

Real Time Transactions 

24 x 7 
PayNow GIRO Transactions  4pm. Cut-off time for PayNow GIRO is earlier than regular GIRO cut-off. This is to allow banks to complete PayNow look-up. 



Can I include a detailed payment advice in my PayNow payment instruction? 

As PayNow payments are made through FAST or GIRO, the information fields for PayNow are similar to those for FAST and GIRO. 
However, as part of the payment initiation, you can include invoice details / payment advice to be sent to the beneficiary via email (beneficiary advising). 


How will I be notified if my PayNow payments are successful? 

Outgoing PayNow FAST and GIRO transactions will be reflected on your bank account statements via DBS IDEAL or IDEAL Connect. 
If you have subscribed to eAlerts via DBS IDEAL, you will be able to receive email confirmation for outgoing PayNow transactions. 


What information will be reflected on my bank statement?

When you make PayNow payments, the following will be reflected on your bank statement on DBS IDEAL:

PayNow Transfer
<Customer reference 1> <Transaction reference>
<Proxy Type 2>:<Proxy value 3>
<Purpose code description>
SGD <Amount>

 

1 Customer reference is the reference entered by the payer. Field length for both FAST and GIRO transactions is 35 characters. 

2 Proxy Type will be NRIC, MSISDN (which represents mobile number), or UEN. 

3 Proxy value refers to the beneficiary’s proxy, which can be NRIC or mobile number for individuals, and UEN for businesses. 


Are there changes in the MT940 account statements for PayNow payments? 

Yes, the narration will be “Outward PayNow”. 


What will happen if I made payments to an unintended beneficiary? 

The recovery process follows the current funds recall procedure. 

PayNow QR

What is PayNow QR and how does it work? 

PayNow QR is a QR representation of your PayNow proxy, with or without the reference number and amount details. PayNow QR follows the SGQR standard and allows QR scan & pay for PayNow FAST transactions between customers from the PayNow participating banks. 

As part of the PayNow registration on DBS IDEAL, a PayNow QR code containing only your PayNow proxy will be available for download and sharing. 

Using QR significantly reduces manual input required by payers when entering the PayNow proxy and lowers the risk of human errors. 


What is SGQR? 

SGQR is a common QR code standard launched by MAS and IMDA. It establishes a set of universal QR specifications for the payments schemes, e-wallets and banks in Singapore. As a result, it will free the merchants from displaying multiple QR codes to accept different payment schemes. 


How can I use PayNow QR to receive payments? 

You can generate PayNow QR directly via DBS IDEAL / IDEAL Mobile and display the QR to receive payments. Banks will also provide PayNow QR specifications for your systems to embed PayNow QR directly into your website, app, point-of-sale, and invoices. 

Businesses can scan your QR and make payments using their corporate mobile banking app; individuals can scan your QR using mobile banking app from any PayNow participating banks. 

For successful PayNow transactions, both payer name and the reference numbers will be reflected on your bank account statement on DBS IDEAL for reconciliation purposes. 


How can I use PayNow QR to make payments? 

We have enabled QR scanning feature on DBS IDEAL Mobile. Hence, you will be able to scan QR codes on invoices to initiate a PayNow payment via IDEAL Mobile following the maker-checker process.

Others

What will happen when I close the bank account with a PayNow registration?

The PayNow proxy will automatically be de-registered upon account closure. There is no action required from you. 

Get in touch
Call

Call

From overseas: +65 6222 2200
In Singapore: 1800 222 2200
Operating hours: 8.30am to 8.30pm, Mon - Fri (excluding PH)