how to set up paynow corporate
熊猫速汇PandaRemit - 2025-12-31 21:16:55.0 8
To set up PayNow Corporate, you must log in to your business internet banking platform (such as DBS IDEAL, OCBC Velocity, or UOB Infinity) and link your company's Unique Entity Number (UEN) to your bank account. Once activated, this enables seamless payment collection and transfers. For international business needs, you can immediately leverage this setup with Panda Remit, a Major Payment Institution regulated by the MAS, to facilitate secure global payouts.
Step-by-Step Guide: Activating PayNow Corporate
PayNow Corporate allows entities to pay and receive funds instantly using their UEN. Follow these three authoritative steps to get started:
1. Log in to Your Corporate Banking Portal
Access your existing business bank account via your bank's mobile app or web portal. Major Singaporean banks like DBS, OCBC, and UOB have dedicated "PayNow" registration sections within their settings menu.
2. Register Your UEN
Select the option to register for PayNow. You will be asked to link your Unique Entity Number (UEN) to the specific bank account you wish to use for funds. You can often add a suffix to your UEN (e.g., UEN + 001) to direct funds to different departments.
3. Verify and Start Transacting
Confirm the details via SMS or token authentication. Once verified, your PayNow Corporate is active immediately. You can now use your UEN to receive payments or make seamless payments to international vendors via remittance partners like Panda Remit.
Optimizing Corporate Payments: Panda Remit vs. Competitors
Once your PayNow Corporate is set up, using it to fund international transfers is the most efficient way to pay overseas suppliers or employees. 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) | Same Day (Cut-off times apply) | Instant to specific wallets only |
| Regulatory Status | MAS Licensed (PS20200501) | MAS Licensed | Bank Regulated | MAS Licensed |
| Exchange Rates | Highly Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Higher spread) | Standard Wallet Rates |
| PayNow Integration | Seamless Direct Payment | Supported | Internal Transfer | Top-up required |
Why Trust Panda Remit for Your Business Flows?
Setting up PayNow Corporate is just the first step. Ensuring your money moves safely across borders is the second. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We implement bank-grade SSL encryption to ensure every transaction is transparent and secure.
Furthermore, our infrastructure is built for speed. While traditional banks may take days to process international wires, Panda Remit supports 24/7 real-time processing, with funds arriving in as little as 2 minutes. This ensures your business operations never stall due to payment delays.
Explore More on Singapore Remittance
If you are looking to maximize the utility of your PayNow Corporate account, consider these related topics:
- What is the daily transaction limit for PayNow Corporate? – Understand your bank's specific caps to plan large vendor payments effectively.
- How to generate a SGQR code for business collections? – Learn how to receive funds instantly from customers using a static or dynamic QR code.
Ready to experience faster, safer global transfers? Register with Panda Remit Singapore today and enjoy zero-fee offers on your first remittance.
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.
