how to use paynow qr code
熊猫速汇PandaRemit - 2025-12-31 21:30:42.0 5
To use a PayNow QR code, simply open your preferred Singapore banking app, select the "Scan & Pay" function, and scan the merchant or recipient's code. When funding international transfers via Panda Remit, using PayNow ensures seamless payments for global payouts and allows funds to arrive in as little as 2 minutes.
Step-by-Step Guide: Paying via PayNow QR
Whether you are paying a local merchant or funding a cross-border remittance to China, India, or Malaysia, the process is standardized across major Singapore banks (DBS/POSB, OCBC, UOB). Follow these 3 steps:
1. Generate or Locate the QR Code
If you are sending money via Panda Remit, initiate your transfer order first. Select "PayNow" as your payment method. The app will generate a unique dynamic QR code for the transaction. Save this image to your phone gallery or keep it on your screen.
2. Open Your Banking App
Log in to your mobile banking app (e.g., DBS digibank, OCBC Digital). Look for the "Scan & Pay" or "PayNow" button on the home screen.
3. Scan and Confirm
Point your camera at the QR code. If the code is saved on your phone (for remittance funding), select the "Upload from Gallery" icon within the scanner interface. Verify the recipient name (e.g., "Panda Remit" or the specific entity name) and the amount, then slide or click to confirm. Thanks to 24/7 real-time processing, your payment is detected instantly.
Comparison: Panda Remit vs. Competitors
When using PayNow to fund international transfers, performance varies significantly between providers. Below is a comparison of Panda Remit against traditional banks and other fintech apps.
| Feature | Panda Remit | Wise | DBS Remit (Bank) |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes | Varies (Minutes to Hours) | 1-3 Business Days |
| PayNow Integration | Seamless (Instant Verify) | Supported | N/A (Direct Debit) |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Higher markup) |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed |
Why Security Matters: MAS Regulation
When learning how to use PayNow QR code for high-value transfers, 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 to ensure every transaction is transparent and highly secure.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, consider these related topics:
- What is the PayNow transfer limit in Singapore? – Most banks default to SGD 1,000 or SGD 5,000, but this can be adjusted in your banking settings to accommodate larger remittances.
- How to send money to Alipay using PayNow? – You cannot send directly to Alipay via PayNow, but you can use PayNow to fund a Panda Remit transfer, which then pays out directly to the recipient's Alipay wallet in China.
Ready to experience fast, secure, and low-cost global transfers? Register with Panda Remit Singapore today and enjoy exclusive rates 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.
