how to do paynow ocbc
熊猫速汇PandaRemit - 2025-12-31 20:47:10.0 7
To execute a PayNow transfer via OCBC, simply log in to the OCBC Digital app, tap "PayNow," and enter the recipient's UEN or mobile number. This seamless payment method is the fastest way to fund Panda Remit transactions, ensuring your global payouts arrive in as little as 2 minutes thanks to our 24/7 real-time processing capabilities.
Step-by-Step: How to Use PayNow on OCBC Digital App
Whether you are paying a merchant or funding a cross-border remittance, follow these three simple steps to complete your transaction using the OCBC Digital app:
- Login and Select PayNow: Open your OCBC Digital app and tap on the "PayNow" icon on the dashboard. You may need to authenticate using your fingerprint or Face ID.
- Enter Recipient Details: Select the transfer type (UEN for businesses like Panda Remit, or Mobile Number for individuals). Enter the Unique Entity Number (UEN) or scan the QR code provided.
- Review and Slide to Submit: Verify the recipient's name and the amount. Once confirmed, slide the bar to authorize the transfer. The funds are deducted instantly.
Why Use PayNow for International Remittance?
Using PayNow via OCBC is the preferred method for funding international transfers on Panda Remit. As a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) (License No. PS20200501), Panda Remit ensures that your funds are handled with bank-grade SSL encryption. By linking PayNow with Panda Remit, you combine the security of a regulated entity with the speed of digital payments.
Comparison: Panda Remit vs. Traditional Banks & Competitors
When sending money globally from Singapore, how does Panda Remit stack up against traditional banks like DBS and other fintechs like Wise? See the data below:
| Feature | Panda Remit | Wise | DBS Remit |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Varies (Often 1-2 days) | Same day (Cut-off times apply) |
| Exchange Rates | Competitive Market Rates (Better than banks) | Mid-market rate | Bank rate (Higher markup) |
| Fees | Zero hidden fees (New user offers available) | Variable percentage fee | $0 transfer fee (FX markup applies) |
| Payment Method | Seamless PayNow, Bank Transfer, ATM | PayNow, Bank Transfer | Direct Debit |
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, consider these common questions:
- What is the daily PayNow limit for OCBC?
Default limits are often set to SGD 1,000 or SGD 5,000, but you can adjust this up to SGD 200,000 via the OCBC app to accommodate larger remittances. - Can I use PayNow to send money to China or India?
Directly, PayNow is local. However, by using PayNow to fund Panda Remit's Singapore service, you can instantly payout to Alipay/WeChat in China or UPI in India.
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.
