Have you ever wished for a seamless and secure method to meet all your fund transfer needs? You can now bid farewell to the cumbersome days of collecting everyone's individual account numbers, noting down bank branches and finding their codes, or taking screenshots of payment receipts and reference numbers for your peers.
With PayNow, making and receiving peer-to-peer payments, even between different banks1, has never been easier. All you need is your mobile phone and your peer's mobile number or National Registration Identity Card (NRIC), and they'll receive the funds almost immediately. Here are some of the ways PayNow can play an active part in reducing the hassle of everyday living.
- Out for a big dinner with friends where everyone's going Dutch? Split the bill easily by having just one person pay with a credit card, and then pay for your own share by transferring funds to that friend.
- Sleepless in Singapore and indulging in some late-night online shopping on Carousell or Etsy? Use PayNow 24/7, even in the wee hours of the morning, to transfer funds to local sellers for that order to be confirmed before you hit the sack.
- Shopping for groceries with your siblings for a surprise homecooked dinner for your parents' wedding anniversary? Divide the bill easily even before you leave Cold Storage to head to The Wine Company for that bottle of red.
- If you're making a block booking for hotel rooms for relatives and friends attending your wedding, but only paying for half of the cost, the attendees can pay you back swiftly for their share so you don't have to fret about having insufficient funds to pay for the dinner banquet.
- Made Friday night plans to watch the new Oscar favourite with your friends, but they're either running late from a meeting or stuck in traffic (or so they say)? Don't let the best seats get snapped up; you can pay for the whole group first and have them pay you back for the movie with PayNow once they arrive.
You can even go one step further with PayNow Corporate2, which allows you to instantly transfer funds to and from participating corporate businesses and government agencies. You no longer have to issue a cheque or go down to a physical office to make a cash payment; all you need is the entity's Unique Entity Number (UEN), and you're all set.
Receive your SG Bonus payout or make a mobile phone bill payment to your telco with PayNow. You'll even be able to receive insurance payments and other payouts from participating corporate entities. It's a huge time-saver and a win-win for everyone.
Scan and Pay with the HSBC Singapore app
Check out a new PayNow feature on the HSBC Singapore app: Scan and Pay will allow you to send and receive money by scanning an SG QR code using your HSBC Singapore app.
You could even enjoy savings from lower flight booking charges on some airlines if you pay using an SG QR code instead of your credit card.
1PayNow is used across 9 participating banks in Singapore - HSBC, Bank of China, Citibank Singapore Limited, DBS Bank/POSB, Industrial and Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank and UOB.
2PayNow Corporate is available across all 9 participating banks, with the exception of the Bank of China and Industrial and Commercial Bank of China Limited, which will offer the service at a later date
Download the HSBC Singapore app to perform your PayNow transfers in just a few taps
You'll need to register for online banking in order to use PayNow
Sign up for online banking today in 3 easy steps to start making transfers with PayNow:
Step 1: Authenticate yourself with your debit, credit or ATM card
Step 2: Create your username and passwords
Step 3: Set up your security questions