PayNow
PayNow is Singapore‘s real time payment network, which allows users to do instant money transfer using their mobile number, Singapore National Registration Identity Card (NRIC), and Foreign Identification Number (FIN). This QR payment method is currently very popular and familiar to shoppers, and is also cost-saving for merchants, as its cost is generally lower than cards in Singapore.
Properties
The properties of the PayNow payment method are shown in the following table:
Payment type | Bank transfer | ||
Acquirer | AlipaySG, AlipayUK, AlipayUS, AlipayEU | Acquiring region | SG, AU, HK, US, EU, UK |
Payment flow | Code-scanning | Checkout Payment | ✔️ |
Buyer country/region | Singapore | Auto Debit | ❌ |
Funds deduction | Real-time | Refund | ✔️ |
Processing currency | SGD | Partial refund | ✔️ |
Minimum payment amount | 0.01 SGD | Chargeback | ❌ |
Maximum payment amount | 200,000 SGD | Refund period | 60 days |
User experience
The following screenshots show the journey of paying with PayNow on different terminals:
Mobile
The following screenshot shows the journey of paying with PayNow on mobile:
Figure 1. Payment process with PayNow on mobile
PC
The following screenshot shows the journey of paying with PayNow on PC:
Figure 2. Payment process with PayNow on PC