PayNow Corporate supports funds transfers to beneficiaries 24 x 7 x 365 via FAST.
Make and receive payments easily with just a valid account alias - NRIC number, mobile number or UEN.
Funds transfers can now be made with just a valid account alias, minimising the need to share, collate and maintain bank account details.
Funds are credited within 5 minutes1 and you will be able to get real-time updates on payment status via HSBCnet.
With real-time updates on payment status via HSBCnet, you will be able to confirm payments with certainty to your business partners and customers, reducing payment reconciliation tasks.
Utilise a QR code to facilitate collections – entities and consumers can now make PayNow transfers by scanning the PayNow QR code using their existing mobile banking applications2.
The option of scanning a QR code to make payments is available. Entities and consumers can now make PayNow transfers by scanning the PayNow QR code using the existing mobile banking applications of the participating banks.
PayNow is now on SGQR. Click here to find out more.
1 This is a separate service request for HSBC to assist with QR code generation
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.Managing Director of Blackbox
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.Marketing Director of Rentokil Initial
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.Director of Whistler Wines
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.Accounts manager with Rhenus