In order to support the Singaporean government’s efforts towards being a cashless society, a number of solutions have developed, including a national standard QR code, digital wallets, and popular platforms used to specifically make cashless payments among banks convenient. The latter is called PayNow.
PayNow was established in 2017 by the Association of Banks in Singapore as a peer-to-peer money transfer service. This platform allows the users to transfer money from one Singapore bank to another via FAST by simply entering the NRIC or a mobile number.
Currently, there are nine Singapore banks that are participated in the PayNow service, including Standard Chartered Bank. If you happen to have an Standard Chartered Bank (SCB) account but have no idea how to use PayNow in Standard Chartered, then you have come to the right place.
How to Register for PayNow in Standard Chartered
Before you can make use of the PayNow service, you first need to register or set up a PayNow account. You don’t need to go to the SCB customer center to do this; you can now do it on your mobile device.
- Download and install a Standard Chartered mobile banking app. If you already have this application, you simply need to log into your account using your ID and password.
- Click PayNow and select the Register to Receive PayNow Transfers option.
- Select Mobile Number or NRIC Number to link your PayNow account. Click Next.
- Input the one-time password and click Next.
- Now, your PayNow registration is successful.
How to Transfer Money Using PayNow in Standard Chartered
Here is how to use PayNow in Standard Chartered to transfer money:
- Log in to your SCB mobile banking or internet banking by inserting your Username and Password.
- Enter the Recipient’s NRIC or Mobile Number. Also, enter the Amount of sum you would like to transfer and tap Next.
- Verify the Name of the person you wish to transfer the funds to, confirm the payment, and tap Sent.
- Now, the money has been sent securely to the account of the recipient.
Receive Money Using PayNow in Standard Chartered
With PayNow, you can also receive funds securely and quickly by using a mobile number. Here is how to do it:
- Log in to your Standard Chartered mobile or internet banking account with your Username and Password.
- Link your phone number or your NRIC/FIN to your SCB account number. Also, insert your PayNow display name in the Display Name box.
- Now, you will be able to receive money from your friend, relatives, or business partner by simply using your mobile number.
Edit PayNow Profile in Standard Chartered
Many conditions that make you have to make some edit in your PayNow account, if you are in this position; here is how you can do it:
- Log in to your banking or internet banking account.
- Under the PayNow drop-down menu, select Manage PayNow Registration
- Select the Edit icon and click the Account Number if you wish to change the number you linked to your PayNow account.
You can also change your Display Name. Once you are done, click Next.