PayNow – What is it?

PayNow is a peer to peer fund transfer service, by the Association of Banks in Singapore. Adopted by major banks in Singapore, it is expected to be widely used at hawker centres, foodcourts, taxis, paying friends, paying merchants, giving angpows, topping up SIM cards and online buying.

It is going to be an easy way to collect money, receive payment and requesting payment.

Have you downloaded the PayNow app? What do you think? Share your thoughts.

Terence Seah

5 thoughts on “PayNow – What is it?

  1. I had downloaded this as this is the project that my sis was involved from planning to implementation.

    PayNow is the app that regardless of which banks your resources parked, once both parties have PayNow facilities, it will immediately transfer unlike previously, it is a norm to take at least 2 to 3 working days from different banks’ transfers. But the catch is get both parties must download the PayNow app to enjoy this kind of conveniences. PayNow is unlike DBS Paylahl which there is no link to any of Bank’s account which acts like a E-wallet, hence, you will need to top as and when needed and only will applicable to DBS/Posbank account holders. Somehow, I felt safer using DBS Paylah on mobile’s app as I tried to avoid having too many confidential info stored inside mobile phone’s memory.

    PayNow, you can select either mobile# or NRIC for easy identification.

    While I did transfer from PayNow to another PayNow account for buying things but yet to test further for online purchases and many others – Maybe I am still not quite understand how the app function behind the background. At this stage, is still testing water for me.

    Cheers… Dolly

  2. TQ Dolly for contributing to this PayNow Post. There must be something changing in Singapore payment system which will involve all banks.

    I tried to get my foodstall hawker to accept PayNow, and he just blink at me. The hawker kept quiet, giving me the feeling “Don’t waste my time”.

    I like to invite SilverHairsClub members to participate in this fast happening payment system in system. Test PayNow by sending SGD 0.01 cent to your fellow friends. See what is being charged to you. Check with your friends how much is received and how long it takes to process the transfer.

    Download PayNow into your mobile phone.

    I like to test with 10 members. You transfer me one cent and I will transfer one cent to you.

    Please try with your own 10 friends. All Group Leaders GL, please try with your friends.

    Once two parties confirm to send and receive the one cent, please share your experience on this Post.

    Terence Seah

  3. Since the launch of paynow application, I had been using this very frequently as I can easily pay or receive monies thru mobile# instead of giving out my Bank Account#. But lately, I noticed that we can save our QR code and pass to the shops to scan for accepting payment without even telling them our mobile#. Anyone try using this?

    Cheers… Dolly

    • I have tried PayNow a couple of times. I just need the mobile tel of the person receiving payment. That’s all.

      It’s quite fun practising transferring 1 cent to a friend, and then for the friend to transfer 1 cent back to you. It just takes a blink of an eye.

      Feel free to practice with one another.

      Terence Seah

  4. Yes, Terence,
    The app is even more useful now as we do not need the provide mobile# liao.. just get the other party to scan QR code that we send to them.. There… mission accomplished.

    Happy trying.. Cheers… Dolly

Leave a Reply