Tuesday, May 28, 2024

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Nyongesa Sande
Nyongesa Sandehttps://bizmart.africa
Nyongesa Sande is a Kenyan blogger, Pan Africanist,c olumnist Political Activist , blogger, informer & businesman who has interest in politics, governance, corporate fraud, human rights and television personality.

PayNow is a near-instant real-time payment system developed by Association of Banks in Singapore. The interface facilitates inter-bank peer-to-peer and person-to-merchant transactions. The system is supported by all major Singaporean banks and is regulated by the Monetary Authority of Singapore (MAS) and works by transferring funds between two bank accounts.

Websitewww.abs.org.sg/consumer-banking/pay-now

Payments can be made to any registered Singaporean mobile numberNRIC, corporate Unique Entity Number (UEN) or Virtual Payment Address (VPA). Scanning QR codes is also an option. PayNow is linked with other payment providers including StripeDuitNow (Malaysia), PromptPay (Thailand) and UPI (India).

In 2020, 125 million transactions worth S$22 billion were processed through PayNow.

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