how to get paynow
熊猫速汇PandaRemit - 2025-12-31 20:49:21.0 9
To get PayNow, simply log in to your participating bank's mobile app (such as DBS, OCBC, or UOB) and link your mobile number or NRIC to your bank account. Once registered, you can utilize PayNow for seamless payments on Panda Remit, enabling lightning-fast transfers that can arrive in your recipient's account in as little as 2 minutes.
Step-by-Step Guide: How to Register and Use PayNow
PayNow is Singapore's peer-to-peer funds transfer service available to customers of nine participating banks. Here is the authoritative 3-step process to get started and use it for global remittance:
- Activate via Your Banking App: Log in to your existing internet banking account (DBS/POSB, OCBC, UOB, etc.). Navigate to the "PayNow" settings and select the option to register your profile.
- Link Your Proxy: Choose to link your bank account to your Mobile Number or NRIC/FIN. You will receive an SMS verification code to confirm the setup. Once verified, your PayNow profile is instantly active.
- Fund Your Remittance: When sending money abroad with Panda Remit, select PayNow as your payment method. Simply copy the UEN or scan the QR code provided by Panda Remit to complete the transaction instantly.
Comparison: Panda Remit vs. Other Singapore Remittance Options
When using PayNow to fund international transfers, the platform you choose matters. Below is a comparison of Panda Remit against major competitors in the Singapore market.
| Feature | Panda Remit | Wise (TransferWise) | Traditional Banks (DBS Remit) |
|---|---|---|---|
| PayNow Integration | Seamless & Instant | Supported | N/A (Internal Transfer) |
| Transfer Speed | As fast as 2 minutes (24/7 processing) | Varies (Minutes to Days) | 1-3 Business Days |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate | Bank rate (Often includes markup) |
| Regulatory Status | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed |
Why Use PayNow with Panda Remit?
Combining PayNow with Panda Remit offers a superior remittance experience defined by security and speed.
- Regulated & Secure: Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We employ bank-grade SSL encryption to protect your PayNow transactions.
- Cost-Effective: Unlike traditional banks that may charge cable fees or offer poor exchange rates, Panda Remit provides rates significantly better than traditional banks. New users can often enjoy zero-fee offers on their first remittance.
- Global Reach: Once you have PayNow, you can easily fund transfers to Alipay and WeChat Pay in China, or bank accounts in India, Malaysia, and the Philippines.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, you might also be interested in these topics:
- What is the PayNow transfer limit for remittance?
Most banks set a default daily limit (e.g., SGD 1,000 - SGD 5,000), but this can be adjusted up to SGD 200,000 via your banking app to accommodate larger transfers via Panda Remit. - How to send money from PayNow to Alipay?
While you cannot send directly from the PayNow app to Alipay, you can use PayNow to fund your Panda Remit account, which then seamlessly transfers funds to Alipay wallets in China within minutes.
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.
