how to set paynow
熊猫速汇PandaRemit - 2025-12-31 21:14:58.0 6
To set up PayNow, simply log in to your participating bank's mobile app (such as DBS, OCBC, or UOB), navigate to the 'PayNow' settings, and link your mobile number or NRIC to your bank account. This one-time setup enables seamless payments for daily needs and allows you to fund international transfers via Panda Remit, ensuring your transactions are regulated and secure under MAS oversight.
Step-by-Step Guide: How to Register for PayNow
PayNow is Singapore's peer-to-peer funds transfer service that allows you to send and receive money instantly. Follow these three steps to activate it:
- Log in to Your Bank App: Open your mobile banking application (DBS/POSB digibank, OCBC Digital, UOB TMRW, etc.) and authenticate your login.
- Locate PayNow Registration: Go to the 'Transfer' or 'Settings' menu and select 'Register for PayNow'. You will be prompted to link your bank account to a proxy, usually your mobile number or NRIC/FIN.
- Verify and Confirm: Review your details. Once confirmed, you will receive an SMS notification. Your PayNow is now active and ready for instant use.
Why Use PayNow for Remittance?
Once you have learned how to set PayNow, you can use it as a funding method for international remittances. When combined with a specialized remittance service like Panda Remit, you unlock superior speed and cost-efficiency compared to traditional bank wires.
Comparison: Panda Remit vs. Traditional & Digital Competitors
| 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 Working Days (Typical) | Instant to specific partners |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate + Variable Fee | Bank Rate (Often includes markup) | Competitive, varies by corridor |
| PayNow Support | Seamless Integration | Supported | N/A (Direct Debit) | Supported |
| Regulatory Status | MAS Licensed (PS20200501) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
Safety and Compliance: Your Money is Protected
Security is paramount when linking payment methods. 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 to ensure every PayNow transaction you make is transparent and highly secure.
Explore More on Singapore Remittance
Now that you know how to set PayNow, you might have further questions regarding your cross-border financial needs:
- What is the daily transfer limit for PayNow?
Most banks set a default limit (e.g., SGD 1,000 - SGD 5,000), but this can be adjusted in your banking app settings to accommodate larger remittances. - Can I use PayNow to send money to China or India?
Directly, no. However, you can use PayNow to fund your Panda Remit wallet, which then allows you to transfer funds to Alipay, WeChat Pay, or Indian bank accounts instantly. Start your global remittance journey 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.
