Starting from 15 January 2024, a fee of S$0.50 and S$0.20 per transaction will be chargeable for PayNow (FAST) and PayNow (GIRO) respectively.”
Applicable for Malayan Banking Berhad, Singapore branch customers and/or Maybank2E users
For Maybank Singapore Limited customers and/or Maybank Business Internet Banking (BIB) users, click here.
How is PayNow useful to your business?
You can use PayNow to
- Receive PayNow payments by providing your PayNow ID* to the payer; or
- Make PayNow payments to other businesses/government agencies (B2B) or to individuals (B2C) by indicating their PayNow ID*.
* For businesses/government agencies, the PayNow ID is their Unique Entity Number (UEN) or UEN + suffix#. For individuals, the PayNow ID is their NRIC/FIN or the mobile number.
# By adding a 3-character suffix to your UEN, you can create multiple PayNow IDs each of which can be tied to an account from the same or different bank.
Benefits of PayNow
PayNow simplifies the payment process by
- Removing the need to remember account information (Bank SWIFT BIC and Account Number);
- Reviewing the beneficiary nickname (for individuals) or registered name (for businesses) before confirming payments;
- Supporting QR payments (PayNow QR & SGQR) which reduce the number of steps to make a payment and at the same time, facilitate the reconciliation process by specifying a non-editable payment reference.
The pre-requisites to start using PayNow are as follows:
Receiving PayNow Payments
Making PayNow Payments
Receiving Payments with your PayNow ID
To start receiving payments via PayNow, a one-time registration is required by linking your UEN to your SGD Current Account.
Registrations can be done via the following 2 modes:
* A one-time registration to PayNow Settings is required before PayNow registrations can be submitted online.
* Processing time is 5 days. We recommend that customers apply via Maybank2E for instant registration.
To simplify your collections, you can make use of a PayNow QR or a SGQR at your retail shop or even include it in your invoices. Your payer will be able to scan the QR code to initiate payment to you.
Receiving PayNow Payments with PayNow QR & SGQR
A PayNow QR contains relevant information (e.g. your PayNow ID, amount, reference) so that the payment can be successfully processed.
SGQR consolidates the various payment-related QR codes (e.g. PayNow, GrabPay, FavePay, Dash,…) that a business can accept into a single QR code label.
|For businesses with e-commerce store
|For businesses with physical/retail stores or print invoices
For PayNow QR:
Note: SGQR printing will take up to 10 business days.
For SGQR on invoices:
Making Payments with a PayNow ID
You can either submit a single PayNow payment instruction or upload a PayNow payment file via Maybank2E.
If you are not yet a Maybank2E customer or have yet to register for “Domestic Payments” services, please contact your Relationship Manager.
Existing Maybank2E customers can contact our Call Centre at +65-6720 3720 or email@example.com for assistance.