paynow paynow
DBS PayNow Corporate
now open for business
  • You can make and receive payments instantly with just your Unique Entity Number (UEN), without the need to know or disclose any account numbers.
Register on IDEAL Now

For our SME customers, sign up by 31st December 2018 to enjoy FULL FEE WAIVER for all incoming PayNow transactions and outgoing PayNow lookups until 31st December 2019!

Why PayNow Corporate

Secure
secure

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

Simple
simple

Making payments to individuals and businesses is as easy as 1-2-3; no account numbers required!

Seamless
seamless

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

First, you need to register…

Are you a DBS IDEAL user?
For existing IDEAL user,
send

Manage PayNow

  • Go to the menu “Administration”
  • Click on “Manage PayNow” to register your UEN1 for PayNow Corporate
  • Click here to find out how to register on IDEAL.
Login to IDEAL
Not a DBS IDEAL user?
For non IDEAL user,
send
  • You can also apply by filling up form
  • Send completed form here
Download form
Not a DBS customer?
For non DBS customer,
online
  • Apply online for a Business Account in 5 mins
  • Your account will be opened in 1 business day!
Apply for an account now

 

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.

 

Then you’re able to…

receive
step1
STEP 1
Publish your UEN or QR code on your website, other online channels, or your invoices
step2
STEP 2
Be notified of inward credits – all PayNow transactions will be displayed on IDEAL and your account statements
Useful for
  • Merchant Payments
  • Bill Payments
  • Invoice Payments
pay
step1
STEP 1
Pay other businesses or individuals by using PayNow registered proxies, i.e. UEN or NRIC / mobile number
step2
STEP 2
Receive notifications of successful transactions
Useful for
  • Business / Invoice Payments
  • Claims / Ad hoc Payments
Click here to view DBS PayNow Terms and Conditions.

Frequently Asked Questions

What is PayNow Corporate?

  1. 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.

  2. What are the currencies supported by PayNow?
    Only Singapore Dollar fund transfer is available for PayNow.

  3. What is the transfer limit for a PayNow fund transfer?

    FAST Real Time Transactions

    SGD 200,000

    GIRO Transactions

    Unlimited


  4. Can I make PayNow fund transfer to a non-participating bank?
    PayNow fund transfer can only be made to a PayNow participating bank.

Register for PayNow

  1. Who is eligible to register for PayNow Corporate?
    1. Singapore incorporated entities, government agencies, associations, and societies who have a UEN issued in Singapore; and have
    2. Singapore bank accounts with one of the PayNow participating banks1.
      17 PayNow Corporate participating banks are DBS Bank, Citibank, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, United Overseas Bank.

  2. How can I register for PayNow Corporate?
    1. Fill up the PayNow Registration Form
    2. Send the completed form to paynowadmin@dbs.com.

    From 13 August 2018, you can register for PayNow via DBS ™, IDEAL ™ or ™ Mobile.


  3. What types of bank accounts can I link my UEN to?
    DBS Multi-Currency Accounts (SGD wallet), SGD Current Accounts, Digital Accounts and Auto-Save Accounts.

  4. Can I register 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”.

  5. 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.

  6. 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.

  7. 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.

  8. My company is not incorporated in Singapore. Can I register for PayNow Corporate?
    PayNow Corporate is currently only available for entities incorporated in Singapore.

  9. Can I register PayNow Corporate with multiple participating banks?
    Yes, you can register for PayNow with multiple participating banks by using different proxies.

Receive with PayNow

  1. 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.

    For more information on PayNow QR, click here.

  2. 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 IDEAL™ or IDEAL™ Connect.

    If you have subscribed to eAlerts via IDEAL™, you will be able to receive email confirmation for incoming PayNow transactions.

  3. What information will be reflected on my bank account statement?
    When you receive PayNow payments, the following will be reflected on your bank statement:

    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.

  4. 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 payer’s bank do not pass the proxy details to the beneficiary’s bank during PayNow transactions.

  5. 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 payer or embedded in PayNow QR) will be shown on the bank account statement as for reconciliation purposes.

    For more information on PayNow QR, click here.

  6. Are there changes in the MT940 account statements for PayNow receipts?
    Yes, the narration will be “Inward PayNow”.

  7. For unidentified receipts, what is the process of returning the funds?
    It will be the same as any unidentified receipts today.

Pay with PayNow

  1. How can I make payments with PayNow Corporate?
    You can make single or bulk PayNow payments through the following channels:

    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 the payment to be processed through FAST or GIRO.
    For single PayNow payment, simply send your payment instruction through IDEAL™, IDEAL™ Mobile or IDEAL™ RAPID.
    For bulk payments, simply upload the UFF file (with updated file format).

  2. 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.

  3. 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).

  4. What will happen if my beneficiary’s NRIC / mobile number or UEN was 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 with PayNow.

  5. 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.


  6. 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 beneficiary via email (beneficiary advising).

  7. 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 IDEAL™ or IDEAL™ Connect.
    If you have subscribed to eAlerts via IDEAL™, you will be able to receive email confirmation for outgoing PayNow transactions.

  8. What information will be reflected on my bank statement?
    When you make PayNow payments, the following will be reflected on your bank statement:


    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 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 beneficiary’s proxy, which could be NRIC or mobile number for individuals, and UEN for businesses.

  9. Are there changes in the MT940 account statements for PayNow payments?
    Yes, the narration will be “Outward PayNow”.
    The recovery process follows the current fund recall procedures.

  10. What will happen if I made payments to an unintended beneficiary?
    The recovery process follows the current fund recall procedures.

PayNow QR

  1. 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 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 PayNow proxy and lowers of the risk of human errors.

  2. 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.

  3. How can I use PayNow QR to receive payments?
    You can generate PayNow QR directly via 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 the bank account statement as for reconciliation purposes.

  4. How can I use PayNow QR to make payments?
    We have enabled QR scanning feature on IDEAL™ Mobile. Hence, you will be able to scan QR codes on invoices to initiate a PayNow payment in ™ Mobile following the maker-checker process.

Others

  1. 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.