how to paynow using uen
熊猫速汇PandaRemit - 2025-12-30 18:38:45.0 6
To PayNow using UEN, simply log in to your Singapore banking app, select the "PayNow" function, enter the recipient's Unique Entity Number (UEN), and verify the entity name before confirming. This method is the standard for funding international transfers on platforms like Panda Remit, which offers seamless PayNow integration to facilitate global payouts and ensures funds arrive in as little as 2 minutes.
Step-by-Step Guide: Completing a PayNow UEN Transaction
Using a Unique Entity Number (UEN) is the fastest way to pay businesses or fund your remittance wallet in Singapore. Follow these 3 steps to complete your transaction securely:
- Select PayNow in Your Banking App: Open your DBS, OCBC, or UOB app. Navigate to the "Transfer/Pay" section and select "PayNow." Choose "UEN" (Unique Entity Number) as the transfer method rather than a mobile number.
- Enter the UEN and Amount: Input the specific UEN provided by the merchant or remittance provider (e.g., Panda Remit). Enter the exact amount you wish to transfer. Note: Panda Remit users enjoy competitive exchange rates with zero hidden fees when funding via PayNow.
- Verify and Confirm: The system will automatically display the registered entity name associated with that UEN. Verify this matches the intended recipient (e.g., "Panda Remit Singapore") and tap "Confirm" to execute the transfer instantly.
Comparison: Panda Remit vs. Traditional Banks & Competitors
When using PayNow to fund international transfers, speed and cost are critical. Below is a comparison of how Panda Remit stacks up against local banks and other fintech apps.
| Feature | Panda Remit | Traditional Banks (DBS/OCBC) | Other Apps (Wise/Singtel Dash) |
|---|---|---|---|
| PayNow Integration | Seamless (Instant Funding) | Native Support | Supported |
| Transfer Speed | As fast as 2 minutes | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Market-leading rates | High markup (1-3% spread) | Mid-market rates + fees |
| Regulatory Status | MAS Licensed (MPI) | MAS Licensed | MAS Licensed |
Why Trust Panda Remit with Your PayNow Transfers?
Security is paramount when dealing with digital payments. Panda Remit is not only fast but also rigorously compliant with Singaporean financial laws.
- MAS Regulated: We are a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501.
- Bank-Grade Security: We implement Symantec SSL encryption and multi-layered anti-fraud protocols to ensure every PayNow transaction is transparent and secure.
- Global Reach: Once you fund your account via PayNow, you can send money directly to Alipay, WeChat Pay, or bank accounts in over 30 countries.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, consider these related topics:
- What is the daily PayNow transfer limit in Singapore?
Most banks default to a daily limit (e.g., SGD 5,000), but this can be adjusted up to SGD 200,000 for high-value remittances. - How to send money to China using PayNow?
You can use PayNow to fund your Panda Remit account, which then allows for instant payouts to Alipay and WeChat Pay wallets in China.
Ready to experience fast, secure, and low-cost remittance? Register with Panda Remit Singapore today to start sending money globally.
This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MAS (Major Payment Institution) regulatory framework.
