PayNow Corporate

PayNow Corporate is a service that allows your business to receive payments from other businesses and individuals instantly with just your Unique Entity Number (UEN), a PayNow QR code, or PayNow on SGQR. You can also make payments via PayNow Corporate to businesses using their UEN and to individuals using either their NRIC/FIN or mobile number.

For added convenience, you may generate PayNow QR and SGQR for the following purposes:


Generate PayNow QR Code
 


Generate PayNow on SGQRNEW
 

Non-physical retail store / website, i.e.
e-Commerce

Display at business premise(s)

e-Invoice

Print on invoice

 

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 or link PayNow into SGQR 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 / and QR code is required, there is no need to disclose bank account details.    

Cost efficient

Cost efficient

Reduce cost of processing payments
(via cash /cheques)



Cost efficient

All-in-one SGQR

Consolidate all your QR payments
acceptance into a single SGQR label
to enable businesses / individual
to make payment via QR code easily.


 

Fee Waiver

Enjoy a fee waiver on all incoming and outgoing PayNow transactions with your Maybank account till 31 December 2019.



PayNow on SGQR labels at no cost

Register for PayNow on SGQR before 31 December 2019 and enjoy 5 free SGQR labels.



Sign up for SGQR NOW!
Terms and Conditions applies.

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

For Business Internet Banking (BIB) Customers

STEP 1:
Complete the BIB Maintenance Form to apply for PayNow Services*. For more information on how to fill up the form, click here.
 

STEP 2:
Login to BIB and select the PayNow tab to manage your PayNow registrations. You can also generate a PayNow QR to receive payments via PayNow.This service is available 24x7.
 

STEP 3:
Once you are notified that your PayNow registration is successful, you can inform your customers to pay you using your PayNow ID or by scanning your PayNow QR code.
 

* Please submit your completed form and supporting documents through your account-holding Branch or your Account/ Relationship Manager. Processing time is 5 days.
 

For Non-Business Internet Banking (BIB) Customers

STEP 1:
Complete the PayNow Registration Form.
 

STEP 2:
Scan the completed form and email to: paynow@maybank.com.sg.*
 

STEP 3:
Once you are notified that your PayNow registration is successful, you can inform your customers to pay you using your PayNow ID.
 

* Processing time is 5 days.

 

 

 

 

 

 


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

To Make Payments via PayNow Corporate:


Please ensure you have access to Business Internet Banking (BIB). Otherwise, you may apply for BIB by completing the BIB Application form and dropping it off at any of our branches.

For Single Payment

Existing BIB customers with access to the "Funds Transfer" service can immediately start making payment via PayNow.

If you do not have access to the "Funds Transfer" service, please submit the BIB Maintenance Form. For more information on how to fill out the form, click here.


For Bulk Payments

Existing BIB customers with access to the "Payroll Service (APS)" and/or "Inward/Outward GIRO (OBG)" service(s) can immediately start making payment via PayNow.

If you do not have access to the "Payroll Service (APS)" and/or "Inward/Outward GIRO (OBG)" service(s), please submit the BIB Maintenance Form. For more information on how to fill out the form, click here.




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)
 

HOW TO GENERATE QR CODE TO RECEIVE PAYMENTS
(for customers with Corporate PayNow)


Please ensure you have access to Business Internet Banking (BIB). Otherwise, you may apply for BIB by completing the BIB Application form and dropping it off at any of our branches.

For customers with non-physical retail store / website, i.e e-Commerce, or issue e-invoices

Note:
Customers must have access to Business Internet Banking.

• Select the "PayNow" service after logging in to Business Internet Banking.

• Retrieve the PayNow IDs registered with Maybank to generate the PayNow QR code.

• The generated QR code can be saved, printed or shared to receive payments via PayNow.


For customers with physical/retail store or print invoices

• Register for PayNow on SGQR to combine all your QR payments into one QR label.

• Email the completed form to paynow@maybank.com.sg

• Note: SGQR printing will take up to 10 business days.




To view incoming transactions from PayNow Corporate:

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

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:

  • PayNow Transaction Report* (Log in to Business Internet Banking to generate)

  • Account statement

  • Email notification

* Previous day's PayNow transactions will be reflected in the PayNow Transaction Report after 8am each day.

PayNow QR

1. How do I generate a PayNow QR?

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.


2. What’s the purpose of having an optional reference and/or amount field?

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.


3. How can I use the PayNow QR code?

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


4. Who can make payment to the PayNow-generated QR code?

Customers of the nine PayNow participating banks can use their bank mobile banking app to make payment to you.


5. Is there a fee for PayNow QR code generation?

This service is free of charge for our BIB customers.

Corporate PayNow on SGQR

1. What is SGQR?

SGQR combines multiple QR payment options, of which PayNow QR is one of them.


2. How do I sign up for SGQR?

Kindly fill up the SGQR form and email it to PayNow@maybank.com.sg.

Please ensure that you have linked your UEN to your Maybank corporate banking account with PayNow before signing up for SGQR.


3. If I sign up for PayNow on SGQR, does it mean I will be forced to have multiple payment QR codes?

No, you may maintain your existing payment QR code(s).


4. I have registered for PayNow QR, do I need to apply for SGQR?

If you have a store front or providing hardcopy invoice to customers, you are encouraged to apply for SGQR label to display at your physical retail outlet(s) or to place on your invoices.


5. How much will it cost for me to sign up SGQR with Maybank?

As a Maybank Corporate PayNow customer, you may register for SGQR to receive up to 5 SGQR labels at no cost till 31 December 2019. It cost S$5 per SGQR label for orders above 5 pieces.


6. Are there any charges imposed for transaction received via PayNow on SGQR?

Currently there is no charge imposed to you till 31 December 2019.


7. How long will it take for me to receive the payment via PayNow on SGQR?

Upon successful payment, you should receive an almost immediate payment.

For incoming PayNow transaction, please check your email notification, Account statement / and Account transaction history via Business Internet Banking.


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.


2. Who can I make payment to?

You can make payments via PayNow to businesses using their UEN and to individuals using either their NRIC/FIN or mobile number.


3. How can I ensure that payment is being made to the correct recipient?

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.


4. Why can’t I find the entity name when I submit a search at www.uen.gov.sg?

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.

5. How long will it take for my funds to be transferred? How will I know if my funds transfer is successful?

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.


6. Can I schedule my payment?

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.


7. When will funds be debited if I schedule a payment?

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.


8. Can I cancel my scheduled payment?

You can cancel the payment only if the request is made at least one business day before the effective date of transfer.