PayNow for business works through PayNow Corporate: your bank links your business's UEN to its account, and customers pay you instantly in Singapore dollars by keying in the UEN or scanning your PayNow QR code. The Association of Banks in Singapore (ABS) says PayNow is free for retail customers and that businesses may not add a surcharge for it. What your bank charges a business account is in its own price guide.
This guide covers registering your UEN, the two kinds of PayNow QR, using them on invoices and at the counter, matching payments to orders, and how PayNow compares with cards on cost.
What PayNow Corporate is
PayNow lets people send and receive Singapore dollars using a mobile number, NRIC or FIN, or a virtual payment address instead of an account number. PayNow Corporate is the same for businesses, associations and societies: the business links its UEN to a Singapore bank account or e-wallet, through its bank or a major payment institution.
Both sides need to be with a PayNow participant; ABS lists the banks and payment institutions taking part. Transfers to or from a bank that isn't a participant aren't supported. The PayNow QR is part of SGQR, Singapore's single payment QR label, so one code at your counter can show PayNow next to other ways to pay.
Registering your UEN for PayNow
You register in your bank's business banking, not with a government agency. At DBS, for example, a user with payment rights logs in to DBS IDEAL, chooses Apply, then PayNow & SGQR, then Register/manage, picks the account and enters the UEN, with an optional 3-character suffix if you want more than one account to receive PayNow (say, one per branch). The request then waits for approval inside the bank's system. Other banks follow similar steps; check your bank's PayNow Corporate page.
No UEN yet? A sole trader working under their own full name can take PayNow on their personal mobile number, but keep business and personal money apart as soon as you can.
Two kinds of PayNow QR
- A fixed QR from your bank app, often printed on a stand or sticker. The customer scans it and types the amount and a reference. It's quick to set up, but they can mistype the amount or forget the reference.
- A QR made for one payment, with the amount and your reference built in. The customer scans and confirms; nothing to type. That's the one to put on invoices and orders, because each payment arrives already labelled.
PayNow QR on invoices
DBS, for one, suggests publishing your UEN or PayNow QR on invoices, websites and other places customers pay from. On an invoice, use the invoice number as the reference, and show the amount due and the due date beside the QR.
In AQUORIA O.N.E, every A4 invoice for a Singapore shop with PayNow set up carries a PayNow QR for exactly what's still owed, quoting the invoice number. If the customer has already paid part, the QR is for the balance. Overdue invoices sit in Money owed, sorted by age. Send reminder writes a message with the amount and a link to pay, sent by the SMS account or email mailbox you connect; until then it waits on the Messages page with a button that opens WhatsApp on your phone with it written.
PayNow at the counter
At the counter screen, ring up the sale and open the order: it shows a PayNow QR for the exact amount, with the order number as the reference. The customer scans it with their bank app and pays. Customers who order or book through your shop link see the same QR on their order page, and can attach a screenshot of their payment.
A screenshot isn't money in the bank. Before handing over a S$180 cake or a S$95 bag of laundry, check the payment has arrived in your bank app or alerts, especially for a customer you don't know.
Matching PayNow payments to orders
The reference is what makes matching easy. When every QR carries the order or invoice number, the line on your bank statement tells you which job it pays. Without one, you're left matching amounts and names by hand at month end.
In AQUORIA O.N.E you mark an order paid by PayNow in one tap, and see the customer's screenshot if they sent one. On Business, bank matching goes further: upload your bank statement as a CSV file and money in is matched to payments recorded for the same amount within three days. When a PayNow transfer arrives that nobody recorded, the app suggests which job it probably pays, from the amount and the payer's name, and records it in one tap.
What PayNow costs a business
- Paying by PayNow is free for retail customers, according to ABS, and businesses are prohibited from adding a surcharge for PayNow.
- Your bank sets its own fees for PayNow Corporate on business accounts. DBS, for example, points to its business pricing guide. Ask your bank before you choose an account.
- Payment providers that collect PayNow for you charge their own fee. Stripe's published Singapore price for PayNow is 1.3% of each successful payment.
- AQUORIA O.N.E takes no cut: a PayNow QR from the app pays straight into your own bank account.
PayNow or cards?
PayNow suits customers paying from a Singapore bank account or e-wallet; visitors from overseas usually need a card. Many shops take both. A side-by-side:
| PayNow QR to your own account | Cards through a payment provider | |
|---|---|---|
| Where the money goes | Straight into your bank account, instantly | Into your provider account, then paid out to your bank |
| Cost | Your bank's business pricing; no surcharge allowed | The provider's fee, e.g. Stripe Singapore: 3.4% + S$0.50 for domestic cards, plus 0.5% for international cards |
| Who can pay | Anyone with a bank or e-wallet account at a PayNow participant | Anyone with a card, including visitors from overseas |
| Refunds | You send a transfer back | Through the provider |
What the difference adds up to
On a S$80 facial paid by a domestic card through Stripe, the fee is 3.4% of S$80 plus S$0.50, or S$3.22. Over 300 such payments a month, that's S$966. Paid by PayNow QR straight to your account, the cost is whatever your bank charges for business PayNow. That's why many shops show the PayNow QR first and offer cards for those who need them.
Setting up PayNow in AQUORIA O.N.E
On Essential and Business, type your PayNow mobile number or UEN in Settings once (with your UEN at sign-up, it's filled in for you). Every order and invoice then shows a PayNow QR for the exact amount. Cash and bank transfer work too, and you can take cards online by connecting your own HitPay, Stripe or PayPal account; the provider's fee is between you and them.
How it works
- 1Register your UEN for PayNow Corporate with your bank.
- 2In AQUORIA O.N.E Settings, enter your PayNow UEN or mobile number.
- 3Every order, counter sale and A4 invoice shows a PayNow QR for the exact amount, with its number as the reference.
- 4Mark payments received, or on Business upload your bank statement and let the app match them.
What you'll use
- PaymentsTake payments in Singapore: PayNow QR for the exact amount, cash, transfer and cards through your own account, plus deposits and part payments. Try free.
- InvoicingInvoice software for Singapore: receipts and A4 invoices with GST, numbering, payment terms, PayNow QR, statements and reminders. Free for 14 days.
- Point of saleA POS system for Singapore on the phone, tablet or computer you own: quick sales, walk-ins, PayNow QR, receipts and cash-up. No hardware. Try it free.
- AccountingAccounting software for Singapore: expenses and profit, bills to pay, bank matching from your statement, GST F5 figures and CSV exports. Try it free.
Plan: Essential or Business
Sources
- ABS: PayNow
- DBS: PayNow Corporate for businesses
- MAS: Singapore Quick Response Code (SGQR)
- Stripe: Pricing in Singapore
- ACRA: Registering a sole proprietorship or partnership (UEN)
Published 4 November 2026
Questions
How do I register PayNow for my business?
Through your bank's business banking. You need a UEN and a business account at a PayNow participant. In the bank's online banking, find PayNow Corporate (at DBS, PayNow & SGQR in IDEAL), choose the account and enter your UEN, adding a suffix if you want several accounts. Once approved, customers can pay you by UEN or by your PayNow QR.
Is there a fee for PayNow for business?
It depends on your bank. ABS says PayNow is free for retail customers and businesses can't add a surcharge for it, but each bank sets its own pricing for business accounts, so check your bank's price guide. A payment provider that collects PayNow for you charges its own fee; Stripe's Singapore price is 1.3% per payment. AQUORIA O.N.E adds nothing.
What is the UEN in PayNow?
The UEN is the Unique Entity Number ACRA gives a registered business. With PayNow Corporate, it works like a phone number for payments: customers key in your UEN, or scan a QR containing it, and the money goes to the account your bank linked it to.
Can I use PayNow without a UEN?
Yes, on your personal PayNow, which uses your mobile number or NRIC. Many home businesses start that way, and AQUORIA O.N.E accepts a PayNow mobile number as well as a UEN for its QR codes. Once you register a business with ACRA and open a business account, switch to your UEN so business money is kept separate.
Can customers pay an invoice by PayNow QR?
Yes. Put a PayNow QR on the invoice with the amount and the invoice number built in, so the customer just scans and confirms. In AQUORIA O.N.E, every A4 invoice for a Singapore shop with PayNow set up shows a QR for the amount still owed, quoting the invoice number, so the payment arrives labelled.