does paynow work overseas
熊猫速汇PandaRemit - 2025-12-31 20:14:58.0 9
Directly, PayNow is a domestic Singaporean network. However, it works overseas effectively when used to fund international transfers via licensed platforms like Panda Remit. This integration allows for seamless payment & global payouts (Advantage D) to major wallets like Alipay and WeChat Pay, with funds arriving in as little as 2 minutes (Advantage A).
Understanding PayNow's International Capabilities
While PayNow was originally designed for local SGD transfers, the Monetary Authority of Singapore (MAS) has established linkages with countries like Thailand (PromptPay) and India (UPI). However, for most global destinations, the most efficient way to utilize PayNow for overseas transfers is through a specialized remittance provider. By selecting PayNow as your funding source, you avoid the slow processing times of traditional bank wires while securing better exchange rates.
Comparison: Panda Remit vs. Traditional Banks & Competitors
When asking "does PayNow work overseas," the real question is often about cost and speed. Here is how Panda Remit compares to other major players in Singapore when using PayNow as a funding method:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Speed | As fast as 2 mins (24/7 Real-time) | Varies (Minutes to Days) | Same-day (Cut-off times apply) | Instant to specific partners |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Often includes markup) | Competitive |
| PayNow Integration | Seamless In-App | Supported | N/A (Direct Debit) | Supported |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed | MAS Licensed |
How to Send Money Overseas with PayNow: A 3-Step Guide
Leveraging PayNow for cross-border payments is simple. Follow these steps to ensure your money reaches its destination safely and quickly.
1. Create a Regulated Account
Download the Panda Remit app and register. Ensure you verify your identity using Singpass for instant approval. As a Major Payment Institution licensed by the MAS (License No. PS20200501), Panda Remit adheres to strict compliance standards.
2. Set Up Your Transfer
Enter the amount you wish to send. You will see the exact exchange rate and the amount the recipient will get. Select PayNow as your payment method. This ensures you benefit from Competitive Exchange Rates (Advantage C) significantly better than traditional banks.
3. Complete Payment via UEN or QR Code
Panda Remit will generate a unique UEN or QR code. Log in to your preferred banking app (DBS, OCBC, UOB, etc.), select PayNow, and complete the transfer. Thanks to our Lightning-Fast Transfers (Advantage A), your funds can arrive in the recipient's account in as little as 2 minutes.
Why Security is Non-Negotiable
When sending money abroad, speed is important, but security is paramount. Panda Remit is Regulated & Secure (Advantage B). We implement bank-grade SSL encryption and multi-layered anti-fraud protocols. Every transaction is transparent, and because we are strictly regulated by the Monetary Authority of Singapore (MAS), your funds are safeguarded throughout the process.
Explore More on Singapore Remittance
- Can I use PayNow to send money to China?
Yes, via Panda Remit, you can use PayNow to fund direct transfers to Alipay and WeChat Pay accounts in China instantly. - What is the PayNow transfer limit for overseas transactions?
While PayNow has a daily local limit (often SGD 5,000 or adjustable by user), Panda Remit allows for higher remittance limits subject to KYC verification levels.
Ready to experience the fastest way to send money globally? Start your secure remittance journey with Panda Remit today.
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.
