The Business Times

PayNow

Companies & Markets

Banks have critical role in helping companies navigate heightened protectionism: DPM Gan

Currently, PayNow is administered and governed by ABS.
Singapore

New entity to be set up to run PayNow, Giro and other national payment schemes

All banks in Singapore will still stop issuing new corporate cheque books by Dec 31, 2025, but the deadline to cease processing of corporate cheques will be extended by an additional year to Dec 31, 2026.
Companies & Markets

MAS extends deadline to cease corporate cheques to end-2026

Residents here will be able to make money transfers to India, Malaysia, Thailand and the Philippines via local apps such as PayNow when the new payment system is live.
Banking & Finance

Payment system to let Singaporeans send money instantly via mobile phones to four countries

Local consumers largely rely on credit and debit cards, which make up around 57 per cent of electronic payments.
Opinion & Features
BRUNCH

Singapore’s cashless march continues despite bank outages

From left: Choo Wan Sim, head of UOB TMRW Digital (Singapore) and Jacquelyn Tan, head of group personal financial services showcasing the "scan to pay" feature on UOB TMRW App. UOB customers in Singapore can now use the function to make payments when they travel to Malaysia, Thailand and Indonesia. PHOTO: UOB
ASEAN Business

Enjoying seamless QR payments in Indonesia, Thailand and Malaysia

A customer using PayNow at a food stall in Whampoa on 30 November 2020.  
Singapore

PayNow-DuitNow cooperation allows those in Singapore, Malaysia to now transfer up to S$1,000

The disruption of DBS and Citi banking services over the weekend has led to some merchants not receiving customer payments even by Monday.
Banking & Finance

Banking services disruption heightens need for multiple payment methods, say retailers

Micro-retailers mostly find electronic payments to be convenient: fast, simple, and with the funds going directly into their accounts.
Singapore

Heartland businesses go cashless, but teething problems remain

PayNow’s potential to break in unexpected ways threaten its integrity as a payment platform because transactions on the network do not fail gracefully.
Columns
HOCK LOCK SIEW

When PayNow is down but not out, pending payments should be aborted

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