HSBC PayNow Corporate

The corporate version of PayNow is now live and HSBC Singapore is one of the nine banks participating in this platform. PayNow Corporate is an enhanced funds transfer service that offers the potential to deliver significant efficiencies in how you send, receive and reconcile Singapore Dollar funds locally using an account alias.
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Overview

Businesses are always looking to improve client experience, and real-time payment platforms like PayNow do exactly that. Here’s what some of our clients have to say about the potential impact on their business from the origination of a payment to reconciliation, and what this translates into in terms of cost savings, operational efficiencies and better customer experience.

Blackbox Research

As a market research company, Blackbox regularly disburses monetary honorariums to focus group participants/interviewees. Typically, the honorariums are given out in cash – participants would want to be remunerated immediately for their time (as opposed to cheque payment which takes up too much time).

With PayNow Corporate, Blackbox hopes to minimise these operational and personnel risks. 

There is greater productivity and efficiency, saving us time and resources – our colleagues will no longer have to make withdrawals and account for the distribution manually. The fast convenient payment will also be a big plus for our interviewees.

David Black Managing Director of Blackbox

Rentokil

As a service provider, customer payments make up a huge part of Rentokil’s sales receipts. The company has already established an online payment option on its website. PayNow Corporate gives their customer another convenient option to instantaneously pay for services rendered on site thus improving customer experience.

The ability to close transactions on the spot makes payments so much easier for customers and also helps Rentokil to facilitate smoother and quicker account reconciliation.

With the launch of PayNow Corporate, both businesses and retail customers now enjoy the convenience of a simpler way of funds transfer anytime, anywhere.

We are actively pursuing digital transformation to benefit and add value for both our internal and external customers. We are very excited with the launch of PayNow Corporate, and wholeheartedly embrace digital payment solutions as part of Singapore’s Smart Nation vision.

Junie Yeo Marketing Director of Rentokil Initial

Whistler Wine & Spirits Pte Ltd

Whistler Wine & Spirits Pte Ltd started in 1999 and offers a diverse range of Japanese beverages, from well-brewed sake and shochu to exclusive and premium ranges for consumers to enjoy in Singapore.

Whistler currently generates sales through their events, roadshows and via e-commerce. These distribution channels deal directly with consumers who are open to fast, secure and convenient payment methods. PayNow QR provides an added payment option and allows Whistler to capture greater market share across the more tech-savvy and early adopters of this technology.

From an operational perspective, Whistler is doing away with the collection and deposit of cheques which can easily take up to a week long.

PayNow Corporate allows us to view our credit payments in real-time and the end-to-end ID helps in the reconciliation process to identify the collection channel. The straight-through processing reduces human error and lessens the workload for our accounts department, it also helps our sales since customers feel secure with this payment mode.

Edison Ong Director of Whistler Wines

Rhenus Logistics

Rhenus Logistics is a global leading logistics service company with a billion dollar turnover and has more than 600 locations worldwide. In Singapore, Rhenus offers a variety of services, including air freight, sea freight, cross border trucking to any point in Peninsular Malaysia and Thailand, project cargo for Marine, Oil & Gas, Machinery industries, customs clearance, domestic distribution and more. The growing Regional and Singapore team is focused on logistics solutions that exceed industry standards in excellence while maintaining speed and efficiency in operations.

Rhenus Asia Pacific is constantly improving its own infrastructure and PayNow Corporate is a natural fit in its logistics framework, especially with regard to internal payments

As one of the personnel in charge of the company’s account, one of my main concerns is for the staff to be able to receive their expenses claims reimbursement on time. With PayNow Corporate, immediate payment is made possible instead of the delayed two business days banking processes.

Ms. Fransisca Accounts manager with Rhenus

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