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The productive worker is a connected worker
  • PayNow Corporate

Make and receive payments seamlessly with just your Unique Entity Number (UEN)

PayNow Corporate

Designed to enhance efficiency in business-to-consumer (B2C) and business-to-business (B2B) transactions. Businesses can simply link their bank accounts to their UENs to enable instant  fund transfers at anytime, anywhere, and in a hassle-free manner.

Sign up now in 3 simple steps

 

Steps
Description
 1   Complete the PayNow Corporate Registration Form and PayNow Service Supplement to link your UEN to your SC Singapore dollar account. Ensure they are signed by the duly Authorised Person(s).

You can now receive payments via PayNow through the national unified payment QR code, SGQR. Find out more here.
2 E-mail the completed form and service supplement to us at Service.SGBizBanking@sc.com from your registered email address with the Bank.
3 Please allow up to 5 working days for your application to be processed. After this is successfully completed, you will be able to make and receive payments through your designated Standard Chartered bank account via PayNow Corporate
Please note that the PayNow service is only available for customers with Straight2Bank. This is our award-winning online and mobile banking platform. Find out more about Straight2Bank here

Carry On With PayNow Campaign by ABS

To encourage Small and Medium Enterprises (SMEs) to sign up for and use PayNow, the Association of Banks in Singapore (ABS) has launched the Carry On With PayNow Campaign, from 9 April to 31 July 2020 (both dates inclusive)*

Campaign
Link
SME PayNow Corporate Sign Up

Be the first 20,000 SMEs (across all nine participating banks of PayNow) to sign up for PayNow Corporate and receive a cash reward of S$25.

 Find  out more
 SME Collections

Be the first 10,000 SMEs per period** (across all nine participating banks of PayNow) to receive a minimum of 10 successful receipts of Singapore dollar amounts via PayNow to receive a cash reward of S$25.

**First period: 9 April to 31 May 2020 (both dates inclusive)
Second period: 1 June to 31 July 2020 (both dates inclusive)
Each SME can only receive the cash reward once in each period.

 Find out more
 *ABS Terms and Conditions: Eligible SMEs who qualify for the cash reward will receive it within 12 weeks after the end of the Carry On With PayNow Campaign period, or such other timing as may be determined by ABS in its absolute discretion. The cash reward will be sent to the qualifying SME via PayNow or such other medium of transfers as may be determined by ABS at its absolute discretion. Please refer to the ABS website for the full terms and conditions and exclusions that apply.

Receiving and making payments using PayNow

TO RECEIVE PAYMENTS

  • Provide your UEN or QR code to your buyers and/or individuals
  • Receive notifications on your inward PayNow transactions on Straight2Bank and account statements
  • You can now receive payments via PayNow through the national unified payment QR code, SGQR. Find out more here.

TO MAKE PAYMENTS

  • Make payments to your suppliers and/or individuals via their UEN or NRIC or mobile number
  • Receive notifications on your outward PayNow transactions on Straight2Bank and account statements
Paynow full banner
SGQR

Streamline PayNow Corporate and all  e-payments into a single QR code.

FAQs

  • PayNow Corporate will enable businesses/corporates and the Singapore Government to pay Singapore Dollar funds instantaneously to eligible retail and corporate customer’s bank accounts held with Standard Chartered Bank and other PayNow participating banks via the use of such customer’s registered PayNow proxy. PayNow Corporate will also enable businesses/corporates and the Singapore Government to receive Singapore Dollar funds instantaneously from eligible retail and corporate customers of PayNow participating banks by linking their Singapore bank account a unique identifier (i.e. a “proxy”) (see “PayNow – Registration” below).

  • The PayNow Corporate participating banks are Citibank, DBS, HSBC, May Bank, OCBC, Standard Chartered Bank and UOB. There are currently 2 additional PayNow Retail participating banks, being BOC and ICBC (i.e. PayNow Transfers can be made by or to retail customers of these banks).

  • Your account number remains the same.

  • • Fast – Make and receive payments almost instantly
    • Easy – Enjoy ease of cash flow with reduced paperwork and better customer experience
    • Secure – No need to provide your bank account details (i.e. bank and account number) to the payer

  • To sign up for PayNow Corporate, please follow the steps below:
    • Complete the PayNow Corporate Registration Form and PayNow Service Supplement to link your UEN to your SC Singapore dollar account. Ensure they are signed by the duly Authorised Person(s).

    • E-mail the completed form to us at Service.SGBizBanking@sc.com
    • Please allow up to 5 working days for your application to be processed. After this is successfully completed, you will be able to make and receive payments through your designated Standard Chartered bank account via PayNow Corporate.

  • No. Only Singapore dollar accounts are eligible for PayNow Registration. In addition, please note that certain accounts (e.g. Time deposit / fixed deposit accounts) are also not eligible.

  • No. You will have to specifically request for access via Straight2Bank Setup & Maintenance form. Upon receipt of the form from you, you will be prompted to link your UEN to your Standard Chartered bank account(s) on the online banking platform Straight2Bank, and after this is set up and completed, you will be able to make and receive payments through your designated Standard Chartered bank account via PayNow Corporate. Click here for the online guide for PayNow.

  • No you cannot register an NRIC or mobile number as a proxy for PayNow Corporate. PayNow Corporate currently only allows proxies comprising of:
    • Your registered Unique Entity Number (“UEN”) (please refer to https://www.uen.gov.sg/ for more information on UEN)
    • Your registered UEN together with a three alphanumeric character suffix

    Each registered proxy can only be linked to one account. However, different proxies may be registered with different bank accounts (whether with the same bank or with different banks).

    Sample Customer UEN Suffix (Alpha, Numeric) Proxy Acceptability
    201812345X – 201812345X Acceptable
    201812345X 0A1 201812345X 0A1 Acceptable
    201812345X $$$ 201812345X $$$ Not Acceptable
    201812345X _5_ 201812345X _5_ Not Acceptable

  • The following information will be required as part of your proxy registration:
    • Your registered name
    • Your bank account number
    • Your bank account name
    • Your proposed proxy
    If any of the above information changes (including your UEN), you must inform us and make the appropriate amendments or deregistrations to your existing proxies.

  • Yes. If your proxy is registered to an Standard Chartered Bank account, you can amend the following details relating to your proxy:
    • Your registered name
    • Your bank account name
    • Your bank account number
    • the suffix relating to such proxy (if your proxy comprises both UEN and a suffix. You cannot amend the UEN portion of your proxy)
    If your UEN changes or is no longer valid, you will need to inform us and deregister all your existing proxies containing such UEN.

  • Yes. If your proxy is registered to a Standard Chartered Bank account, you can deregister it by using this form.

  • Only SGD dollar accounts are supported.

  • No, the same proxy cannot be linked to multiple accounts. If the proxy has already been registered and linked to a bank account, the same proxy cannot be linked to another account. 1 unique proxy can only be linked to 1 account. If you wish to link an already registered proxy to another account, you will need to first de-register the proxy and re-register it with the other account as the linked account.

  • Yes. As long as the proxy proposed to be registered and linked to the bank account is unique (i.e. not currently registered and linked to another bank account), it can be registered and linked to that bank account.

  • Yes. The same UEN can be used but the proxy created should be unique as the system does not allow duplication. In such scenario, if the first proxy registered comprises only your UEN, any subsequent proxy should be a combination of UEN + unique 3 character (alphanumeric) suffix.

    UEN Suffix (Alpha, Numeric)
    Bank X 201812345X –
    Standard Chartered Bank 201812345X 0A1

  • No. You require only the beneficiary’s proxy information.

  • Yes. As long as your are on Straight2Bank and the proxy is registered for PayNow, you can make a PayNow Transfer to such proxy.

  • Yes. As long as the proxy provided by such beneficiary is registered for PayNow, you can make a PayNow transfer.

  • Retail Corporate
    FAST ✓ ✓
    ACH/PAY ✓
    RTGS ✓

  • No. PayNow Transfers for these payment types will be made available to you automatically when we go live. All PayNow Transfers will be effected by us in accordance with the terms and conditions set out in the PayNow Service Supplement. By effecting or permitting to be effected a PayNow Transfer, you will be deemed to have accepted the terms and conditions set out in the PayNow Service Supplement.

  • Yes. You can upload the payment file via Straight2Bank.

  • No. You will need to have a valid registered proxy to receive funds via PayNow.

  • Yes. As long as you have valid registered proxy that is linked to your corporate account, you will be able to receive funds from retail clients via PayNow.

  • Yes. You can set up alerts in Straight2Bank and receive notifications via email or download/receive reports.

  • Yes. We do have Payee advices that will be sent to the beneficiaries.

Terms and Conditions

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.