PayNow (Singapore)
Country: Singapore (SG) | Payment Rail: real_time_payment
RealTimePayment
Market Adoption: 90%
PayNow is Singapore's official 24/7/365 national real-time interbank and QR payment system regulated by MAS.
🔄 User Payment Flow
- Customer selects PayNow at checkout and receives dynamic PayNow QR code or UEN reference
- Customer scans PayNow QR code using Singapore banking app (DBS, OCBC, UOB, GrabPay)
- Bank clears funds instantly in real-time across FAST clearing network
- Merchant receives real-time payment notification and releases order
⚙️ Characteristics & Settlement
| Instant Payment | YES |
| Supports QR | YES |
| Supports Recurring | NO |
| Supports Refund | YES |
🛠️ Merchant Integration Steps
- Merchant API requests payment session from acquiring gateway (Stripe / Adyen / HitPay)
- PSP issues payment token and dynamic PayNow QR payload
- PSP receives PayNow clearing webhook notification and confirms order status
🚀 Supported Payment Gateways & Acquirers (PSPs)
🔌 2C2P🔌 Coda Payments🔌 Stripe🔌 Adyen