how to register paynow for company
熊猫速汇PandaRemit - 2025-12-31 21:10:05.0 9
To register PayNow for your company, log in to your corporate internet banking platform (such as DBS IDEAL, OCBC Velocity, or UOB Infinity) and link your Unique Entity Number (UEN) to your business bank account. Once registered, you can leverage Panda Remit for seamless payment & global payouts via PayNow, ensuring your business funds are managed with MAS-regulated security (License PS20200501) and bank-grade encryption.
Step-by-Step Guide: Registering PayNow Corporate
PayNow Corporate enables Singapore entities to pay and receive funds instantly using their UEN. Follow these three steps to activate this service for your business:
1. Access Your Corporate Banking Portal
Log in to your existing business internet banking account. Most major banks in Singapore (DBS, OCBC, UOB, Maybank, Standard Chartered) support online PayNow registration without visiting a branch.
2. Link Your UEN to Your Bank Account
Navigate to the "PayNow" or "Transfer Services" section within the portal. Select the option to register your Unique Entity Number (UEN). You can choose to link your standard UEN or add a suffix (e.g., UEN + 001) to differentiate between different departments or outlets.
3. Confirm and Start Transacting
Verify the details and submit the request. Activation is typically instant. Once active, you can use your UEN to receive payments or fund cross-border transfers via platforms like Panda Remit directly through the PayNow option.
Optimizing Corporate Finance: Panda Remit vs. Competitors
Once your company has PayNow, using it to fund international transfers is the most efficient way to manage global payments. Below is a comparison of how Panda Remit stacks up against other market players when funding via PayNow.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | 1-3 Business Days | Instant to specific partners |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate + variable fee | Bank rate (often includes markup) | Set daily rates |
| PayNow Integration | Seamless Direct Payment | Supported | Internal Transfer | Top-up required |
Why Use PayNow with Panda Remit?
Integrating your PayNow Corporate facility with Panda Remit offers distinct advantages for business owners and finance managers:
- Lightning-Fast Transfers: By funding your remittance via PayNow, Panda Remit can process transactions in as little as 2 minutes. Unlike traditional bank wires that respect banking hours, our system supports 24/7 real-time processing.
- Regulated & Secure: Panda Remit is a Major Payment Institution strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption to ensure your corporate funds are safe.
- Global Reach: Use your Singapore funds to pay vendors or employees globally. We support direct transfers to Alipay and WeChat Pay in China, as well as major bank accounts in India, Malaysia, and beyond.
Explore More on Singapore Remittance
What is the daily transaction limit for PayNow Corporate?
While PayNow itself allows for high-value transactions, limits are often set by your specific banking platform. However, when using Panda Remit, you can enjoy high-limit remittance capabilities tailored for business needs.
Can I use PayNow Corporate for international payments?
Directly, PayNow is a domestic rail. However, by using PayNow to fund a Panda Remit Singapore account, you effectively bridge the gap, allowing your local SGD to reach international recipients instantly.
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.
