how to receive paynow
熊猫速汇PandaRemit - 2025-12-30 18:39:47.0 6
To receive PayNow funds, simply link your mobile number or NRIC to your Singapore bank account via your banking app's settings. Once registered, local transfers are instant. For cross-border needs, Panda Remit allows you to use PayNow for seamless payments, ensuring lightning-fast global transfers that can arrive in as little as 2 minutes.
Step-by-Step Guide: How to Register and Receive Money
PayNow is Singapore's peer-to-peer funds transfer service that allows you to receive money instantly using just your mobile number or NRIC/FIN. Follow these 1-2-3 steps to start receiving funds:
- Log in to Your Banking App: Open your preferred local banking app (such as DBS/POSB digibank, OCBC Digital, or UOB TMRW).
- Navigate to PayNow Settings: Look for the "PayNow" or "Transfer/Pay" menu. Select "Profile" or "Register" to link your Mobile Number or NRIC to your bank account.
- Share Your Proxy: Once linked, simply provide your registered mobile number or NRIC to the sender. You will receive the funds instantly into your account.
Using PayNow for Global Remittances
Once you know how to receive PayNow locally, you can leverage this infrastructure for international finance. Panda Remit supports PayNow as a primary funding method, allowing you to send money from Singapore to over 40 countries effortlessly.
Comparison: Panda Remit vs. Market Competitors
When moving funds globally using PayNow, efficiency and cost matter. Here is how Panda Remit compares to other major players in Singapore:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | Same-day (Cut-off times apply) | Instant to specific partners |
| Exchange Rates | Competitive (Better than banks) | Mid-market rate | Bank FX rates (Often higher margins) | Standard FX rates |
| Fees | Zero hidden fees (Offers for new users) | Variable percentage fee | $0 transfer fee (FX markup applies) | Transaction fees apply |
| PayNow Integration | Seamless In-App Payment | Supported | N/A (Direct Debit) | Supported |
Security and Regulation
Whether you are receiving money locally or sending it globally, security is paramount. Panda Remit is a Major Payment Institution strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure that every transaction funded via PayNow is transparent and highly secure.
Explore More on Singapore Remittance
1. What is the PayNow transfer limit in Singapore?
Most banks set a default daily limit (e.g., SGD 1,000 or SGD 5,000), but this can be adjusted up to SGD 200,000 depending on your bank settings. High-value transfers are fully supported when funding your Panda Remit account.
2. Can I use PayNow to send money to Alipay or WeChat?
Directly, no. However, you can use PayNow to fund a transaction on Panda Remit, which then pays out directly to digital wallets like Alipay and WeChat Pay in China within minutes.
Ready to experience faster global transfers? Register with Panda Remit today to enjoy exclusive rates and zero fees on your first remittance.
Author Authority: 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.
