banner bg lines

PayNow APIs

Enable seamless fund transfer for your customers, partners and merchants with PayNow APIs. Set up real time payments & collections for your business

Explore Now

Table of Contents

  • What is PayNow?
  • Key Features
  • How Can You Leverage PayNow APIs?
  • Why Decentro’s APIs for PayNow?
What is PayNow?

What is PayNow?

PayNow is a peer-to-peer fund transfer service that enables all users of the participating banks and NFIs to settle funds via their bank accounts or e-wallets to another via Virtual Payment Address, mobile number, or Singapore NRIC/FIN instantly.

The underlying technology behind PayNow is FAST, which enables 24X7 near real-time transactions. This enables the sender to simply load money into another’s wallet/bank account without knowing the provider of their wallet or issuing bank.

PayNow can also be used by corporate businesses, government agencies, societies, and others, that are termed “entities.” This enables entities in Singapore to instantly pay and get paid in Singapore Dollar funds by simply linking their Unique Entity Number (UEN) to their Singapore bank account. The best part, this service is available 365 days a year without any limitations.

Key Features

PayNow enables almost immediate receipt of money

Feature image

Ease of

Make payments via mobile number or VPA rather than complex account details to undertake a transaction

Feature image


Access the flexibility of the payee or the payer being a merchant or consumer while making transactions

Feature image


Generate a unique QR code for each transaction to ensure seamless reconciliation at the transaction level and reduce operational overheads

Feature image

Convenience of

Access multiple payment options, including offline QR and online QR codes across static or dynamic, and pay to a mobile, VPA, UEN, or NRIC linked to PayNow

Feature image

Large transaction

Ensure lower rejection of transactions due to limits at a transaction or account level that cater to most consumer and even business use cases

Feature image


Extended access to networks like UPI to ensure coverage outside Singapore

How Can You Leverage PayNow APIs?

POS Transactions

POS Transactions

Access static or dynamic PayNow QR codes in offline stores to help merchants accept transactions through PayNow with minimal hassles.

Online Commerce

Online Commerce

Conduct online transactions, especially those catering to business purchases via PayNow, due to the higher limits offered by PayNow.

Loan Repayments

Loan Repayments

As a lender, accept payments through PayNow as a means for the borrowers due to its widespread usage.

Cross-Border Usage

Cross-Border Usage

Facilitate transactions from other geographies with minimal hassles using PayNow.

Pay-Outs & Settlements

Pay-Outs & Settlements

Avoid transaction errors by using PayNow through mobile number, VPA to pay vendors, partners, agents, etc

PayNow for Businesses - How Can Decentro Help

Why Decentro’s APIs for PayNow?

Fully flexible API or dashboard based flow for collections and payments.

Improved Reconciliation by letting Debits and Credits flow into a customer's Virtual account.

Instantaneous intimation through callbacks for every transaction including collections and payments

Create dynamic QR codes for each transaction for customer to pay to you or your partner

Unlimited rollover of unused API hits with multiple banking partners

Real-time monitoring of transactions on Decentro’s dashboard

Frequently Asked Questions

What is PayNow in Singapore?

PayNow offers an enhanced funds transfer experience that enables retail customers of the participating banks and NFIs to send and receive Singapore Dollar funds from one bank or e-wallet account to another in Singapore through FAST by using just their mobile number, Singapore NRIC/FIN or Virtual Payment Address (VPA), instantly. The sender no longer needs to know the recipient’s bank/e-wallet provider and account number when transferring money via PayNow.

How do I set up PayNow?

To set up PayNow, you will need an eligible bank account from any supported provider. You’ll then need to register for PayNow by linking your mobile number, National Registration Identity Card (NRIC) number and Foreign Identification Number (FIN) to your account. Once you’re registered, you can make a payment by logging into your banking system online or on your smartphone. The exact steps may vary a little depending on who you bank with, but the process will be broadly the same :

Log into online or mobile banking and select PayNow

Look for Transfer and then tap the type of payment - to a mobile, NRIC, for example

Tap Start transfer and follow the prompts to enter the recipient details - like a phone number or NRIC/FIN number

Add the amount you want to transfer - you may also need to confirm the payment method by clicking the correct linked account

Enter a reference or message to the recipient

Check over confirm, and your money will be transferred instantly

Is PayNow only for Singapore?

PayNow is only available for participating banks in Singapore.

Are UPI and PayNow linked?

India and Singapore have linked their respective digital payment systems, Unifies Payments Interface[UPI] and PayNow, respectively. This linkage will enable those living in India to send money to people living in Singapore quickly. Currently, Indians can transfer up to SDG 1,000 (around Rs 62,000) a day, as per RBI.

Which banks are supported with PayNow?

PayNow is supported by most of the major banks operating in Singapore, including:

Bank of China

Citibank Singapore






Standard Chartered

United Overseas Bank