PayNow Corporate

PayNow Corporate allows you to receive payments from 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.

 

 

 

Benefits of PayNow Corporate

Instant

Instant

   Payments received are instanly credited into your bank account linked to your UEN.   

Secure

Secure

   Only UEN is required, there is no need to disclose bank account details.   

Cost efficient

Cost efficient

   Reduce cost of processing payments
(via cash /cheques)


 

LAUNCH OFFER!

How to Get Started

To Receive Payments via PayNow Corporate:


Please ensure you have the following:

  • Maybank SGD Corporate Current Account
  • A valid Unique Entity Number (UEN) issued in Singapore

STEP 1:

Complete the
PayNow Registration form.


STEP 2:

Scan the completed form and email to: paynow@maybank.com.sg.





Suitable for:

  • Bill collections
  • Business payments
  • Retail/Online payments

To view incoming transactions from PayNow Corporate:

  • Login to Business Internet Banking (PayNow Transaction Report)
  • View your Account Statement
  • Check your email notification
 

Note: We will notify you of the status once the registration has been completed.

To Make Payments via PayNow Corporate:


Please ensure you have Business Internet Banking (BIB) with access to Funds Transfer.

Customers with enquiry-only access to BIB or need to add/amend the authorized person(s) to allow them to do Funds Transfer simply need to submit the “BIB Maintenance form” to opt-in for funds transfer.

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.



Suitable for:

Payments to Businesses or Government Agencies

(Please ensure that recipients have registered their UEN with their banks to receive funds via PayNow)

  • Business payments (e.g. suppliers/vendors)
  • Payments to Government agencies (e.g. taxes, levies, fees)

Payments to Individuals

(Please ensure that recipients have registered either their NRIC/FIN or mobile number with their banks to receive funds via PayNow)

  • Salary payments (e.g. temporary staff)
  • Ad hoc payments (e.g. refunds, claims)
 
Register Now


Frequently Asked Questions

General

1. What is PayNow Corporate?

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.


2. What is Unique Entity Number (UEN)?

  • 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).


3. What are the benefits of making payments using PayNow Corporate?

  • 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).



4. When will PayNow Corporate be available?

PayNow Corporate will be available from 13 August 2018, 8 am to business and corporate customers of the seven participating banks.


5. Which are the participating banks for PayNow Corporate?

The PayNow Corporate participating banks are Maybank, Citibank, DBS Bank, HSBC, OCBC Bank, Standard Chartered Bank and United Overseas Bank.


6. Are payments via PayNow Corporate safe and secure?

Yes. PayNow Corporate is secure and it adopts the same high security standards established by the banking industry.

7. Are there any fees/charges for making payments via PayNow?

Please click here for the updated fees and charges where applicable.

Receiving Payments via PayNow

1. How can I receive payments via Maybank PayNow Corporate?

You must link your UEN to any of your Maybank SGD Corporate Account.


2. What are the eligibility requirements to register for PayNow Corporate?

In order to register for PayNow Corporate, you must have:

  1. A Maybank SGD Corporate Account

  2. A valid UEN issued in Singapore


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

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


4. How can I register for PayNow Corporate?

Simply fill up the PayNow registration form and send the completed form to paynow@maybank.com.sg


5. Who can sign the registration form?

The Authorised Person or the Authorised Signatory of the accounts being linked can sign the registration form on behalf of the company.


6. How will I be notified of the status of our registration?

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.)


7. I have already linked my UEN to an account with another bank. Can I receive payments via PayNow to my Maybank SGD Corporate Account?

Yes, you have 2 options:


  1. De-link your UEN to the account from the other bank and link it to the Maybank SGD Corporate Account;

  2. Or

  3. 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.


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

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


9. How can a corporate identify payments received via PayNow?

You will be able to identify payments with the tag "Inward PayNow". Payments received via PayNow Corporate can be viewed at the methods below:

  • Login in to Business Internet Banking (PayNow Transaction Report)

  • Account statement

  • Email notification

Making Payments via PayNow

1. Do I need to sign up to make payments via PayNow Corporate?

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.