PayNow is extended to businesses. As a business owner, you can use PayNow to receive payments from other businesses and individuals instantly with just your Unique Entity Number (UEN) or a PayNow QR code. You can also make payments via PayNow Corporate to businesses using their UEN and to individuals using either their NRIC/FIN or mobile number.
The greatest advantage of PayNow Corporate is that you will receive payments instantaneously. This is better than cash and cheque as you will still need to deposit the cash into a bank. For added convenience, you may also generate a PayNow QR code to be displayed at your business premise(s), invoices, website, blog or other social media channels.
Note: We will notify you of the status once the registration has been completed.
PayNow Corporate allows you to receive payment from businesses and individuals instantly with just your Unique Entity Number (UEN). You can also make payment via PayNow to businesses using their UEN and to individuals using either their NRIC/FIN or mobile number.
UEN is the standard identification number of an entity.
It is issued to entities such as businesses, local companies, LLPs, societies and representative offices that are recognised by a UEN Issuance Agency (e.g. ACRA, ROS).
Payments received are instantly credited into your bank account linked to your UEN.
Only the UEN is required, there is no need to disclose your bank account details.
Reduce cost of processing payments (via cash / cheque).
PayNow Corporate will be available from 13 August 2018, 8 am to business and corporate customers of the seven participating banks.
The PayNow Corporate participating banks are Maybank, Citibank, DBS Bank, HSBC, OCBC Bank, Standard Chartered Bank and United Overseas Bank.
Yes. PayNow Corporate is secure and it adopts the same high security standards established by the banking industry.
Please click here for the updated fees and charges where applicable.
You must link your UEN to any of your Maybank SGD Corporate Account.
In order to register for PayNow Corporate, you must have:
A Maybank SGD Corporate Account
A valid UEN issued in Singapore
PayNow Corporate is currently only available to entities incorporated in Singapore.
Simply fill up the PayNow registration form and send the completed form to email@example.com
The Authorised Person or the Authorised Signatory of the accounts being linked can sign the registration form on behalf of the company.
You will be notified via Letter/Email/SMS within 5 days from the receipt of the application. (Applicable to application forms received after 13 August 2018.)
Yes, you have 2 options:
De-link your UEN to the account from the other bank and link it to the Maybank SGD Corporate Account;
Create a new PayNow ID by appending a 3-character alphanumeric suffix to your UEN and linking it to the Maybank SGD Corporate Account. Inform your customers/payers about your new PayNow ID or display the PayNow QR code at your business premise(s), invoices, website, blog or other social media channels.
The PayNow ID will be de-registered upon account closure. There is no action required from you.
You will be able to identify payments with the tag "Inward PayNow". Payments received via PayNow Corporate can be viewed at the methods below:
PayNow Transaction Report* (Log in to Business Internet Banking to generate)
* Previous day's PayNow transactions will be reflected in the PayNow Transaction Report after 8am each day.
You can generate a PayNow QR for each PayNow ID registered with us via our Business Internet Banking (BIB). You will have the option of adding a reference and/or amount to the PayNow QR to simplify the payment experience.
You may customise the PayNow QR code to identify the source of payments and/or to simplify the payment experience. For example, if you wish to identify payments made to a specific outlet or line of business, you can indicate this as part of the payment reference and re-generate the PayNow QR code.
Do note that once a reference is provided, the payer will not be able to edit that reference at the time of payment. This is to ensure that you can easily reconcile the transaction.
You can save the PayNow QR code which can then be
Inserted in your invoices
Uploaded on your website or
Printed and displayed at your premises / retail outlets
Customers of the nine PayNow participating banks can use their bank mobile banking app to make payment to you.
This service is free of charge for our BIB customers.
From 13 August 2018, you will be able to make payment(s) via PayNow Corporate from Business Internet Banking (BIB) if you have already enrolled for Funds Transfer service.
Customers with enquiry-only access to BIB or need to add/amend the authorized person(s) to allow them to do Funds Transfers simply need to submit the “BIB Maintenance form” to opt-in for Funds Transfer service.
Customers without Maybank Business Internet Banking (BIB) may apply for BIB by completing the “BIB Application form” and dropping it off at any of our branches.
You can make payments via PayNow to businesses using their UEN and to individuals using either their NRIC/FIN or mobile number.
Payments to a mobile number or NRIC/FIN are meant for individuals whereas payments to a UEN are for businesses.
For payments to individuals, please confirm the Nickname with your recipient before confirming the transaction.
If you are making a payment to a business, you can refer to www.uen.gov.sg to check whether the payment is being made to the intended recipient.
Please ensure that you have entered a valid UEN to conduct a search. Typically, the UEN is 9-10 characters long.
You should ignore the last 3 characters if the UEN given is 12-13 characters long.
For immediate payments, your beneficiary should be receiving the funds almost instantly.
You may check the status of your transaction via our Online/Mobile Banking service.
Yes, you can schedule your payment by setting the payment date under the “Transaction date” field. Do note that payment will be made to the account which was linked to the PayNow ID when the request was approved.
Please make payment at least one business day before the due date if you are paying your bills via PayNow.
Funds will be debited one business day before the specified effective date of the payment. If the date specified for the transaction falls on a public holiday or weekend, the transaction will be effected one business day before the public holiday or weekend.
You can cancel the payment only if the request is made at least one business day before the effective date of transfer.