how to have paynow
熊猫速汇PandaRemit - 2025-12-31 20:49:50.0 10
To have PayNow, you must register via your Singapore bank's mobile app (such as DBS, OCBC, or UOB) by linking your NRIC/FIN or mobile number to your bank account. Once active, you can utilize seamless payments to fund international transfers via Panda Remit, ensuring funds arrive in as little as 2 minutes while enjoying global payout support to Alipay, WeChat Pay, and overseas bank accounts.
Step-by-Step Guide: How to Set Up and Use PayNow
PayNow is Singapore's standard for peer-to-peer funds transfer services. Here is the authoritative 3-step process to activate it and leverage it for cross-border finance.
1. Register via Your Banking App
Log in to your existing internet banking app (DBS digibank, OCBC Digital, or UOB TMRW). Navigate to the "PayNow" settings menu. You do not need a separate app; it is integrated directly into standard banking interfaces.
2. Link Your Proxy
Select the bank account you wish to receive or send funds from. Link this account to your Mobile Number or NRIC/FIN. You will receive an SMS verification. Once confirmed, you officially "have" PayNow.
3. Use PayNow for Global Remittance
Now that you have PayNow, you can use it to fund international transfers on Panda Remit without entering lengthy bank details. Simply select PayNow as your payment method during checkout, generate the QR code, and pay instantly. This method supports 24/7 real-time processing, allowing you to send money abroad faster than traditional bank wires.
Comparison: Panda Remit vs. Traditional Banks & Competitors
Having PayNow is just the first step; using it efficiently is key. Below is a comparison of how Panda Remit leverages PayNow for global transfers compared to other market players.
| Feature | Panda Remit | Traditional Banks (e.g., DBS Remit) | Other Apps (e.g., Wise) |
|---|---|---|---|
| PayNow Integration | Seamless (Instant funding) | Native (Internal transfer) | Supported |
| Transfer Speed | As fast as 2 minutes | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive (Zero hidden fees) | Often includes FX markup | Mid-market rate + Variable fee |
| Regulatory Status | MAS Licensed (Major Payment Institution) | MAS Licensed (Bank) | MAS Licensed |
Why Security Matters When Using PayNow
When asking "how to have paynow" for remittance, security is paramount. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We operate as a Major Payment Institution, implementing bank-grade SSL encryption and multi-layered anti-fraud protocols. This ensures that when you pay via PayNow, your transaction is transparent, compliant, and secure.
Explore More on Singapore Remittance
How to increase PayNow transfer limits for large remittances?
Most banks set a default daily limit (e.g., SGD 1,000). To send larger amounts via Panda Remit, log into your banking app and adjust your PayNow transfer limit up to SGD 200,000 (depending on the bank) to maximize your remittance power.
Can I use PayNow to send money to China or India?
Yes. By using Panda Remit, you pay in SGD via PayNow, and the recipient receives local currency (CNY to Alipay/WeChat, or INR to bank accounts). Start your secure global transfer with Panda Remit here.
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.
