how to paynow qr code
熊猫速汇PandaRemit - 2025-12-31 21:02:19.0 7
To use a PayNow QR code, simply open your participating Singapore banking app, select the "Scan & Pay" function, and scan the recipient's code. For international needs, Panda Remit integrates PayNow for seamless payment funding (USP D), ensuring your cross-border transfers are processed instantly and can arrive in as little as 2 minutes (USP A).
Step-by-Step Guide: How to Pay via PayNow QR Code
PayNow is Singapore's standard for instant funds transfer. Whether you are paying a merchant or funding a remittance wallet like Panda Remit to send money abroad, the process is streamlined for efficiency. Follow these three steps:
1. Generate or Locate the QR Code
If you are sending money to a business or funding a remittance transaction, the platform will generate a unique dynamic QR code. On Panda Remit, simply select "PayNow" as your payment method during the checkout process to generate your specific QR code.
2. Scan Using Your Banking App
Log in to your preferred mobile banking app (e.g., DBS digibank, OCBC Digital, UOB TMRW). Look for the "Scan & Pay" or "Scan QR" button on the home screen. Point your camera at the PayNow QR code. The app will automatically detect the UEN (Unique Entity Number) and the transaction amount.
3. Verify and Confirm
Review the details on your screen. Ensure the recipient name matches (e.g., "Panda Remit" or the specific merchant name). Once confirmed, authorize the transfer. The funds are transferred instantly, allowing Panda Remit to begin processing your global payout immediately.
Comparison: Panda Remit vs. Competitors
When using PayNow to fund international transfers, not all services offer the same speed or value. Below is a comparison of Panda Remit against other major players in the Singapore market.
| Feature | Panda Remit | Traditional Banks (e.g., DBS Remit) | Other Apps (e.g., Wise) |
|---|---|---|---|
| PayNow Integration | Seamless (Instant Funding) | Native Integration | Supported |
| Transfer Speed | As fast as 2 minutes | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive (Zero hidden fees) | Often includes markup | Mid-market rate + Fee |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed |
Why Security Matters: MAS Regulation
When dealing with digital payments and QR codes, security is paramount. Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We implement bank-grade SSL encryption and multi-layered anti-fraud protocols. This ensures that when you scan a PayNow QR code to fund your transfer, your money is handled with the highest level of compliance and security.
Explore More on Singapore Remittance
Using PayNow is just the first step. To maximize your cross-border financial efficiency, consider these common queries:
- What is the PayNow transfer limit in Singapore?
Most banks set a default daily limit (often SGD 1,000 to SGD 5,000), but this can be adjusted up to SGD 200,000 depending on your bank settings, facilitating larger remittances via Panda Remit. - Can I use PayNow to send money to China or India?
Directly, no. However, you use PayNow to fund Panda Remit, which then pays out to Alipay/WeChat (China) or UPI/Bank Accounts (India) instantly.
Ready to experience fast, secure, and low-cost global transfers? Register with Panda Remit Singapore today and enjoy exclusive offers for new users.
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.
