PayNow QR code: How to set up and accept payments in Singapore (2026)

Key Takeaways:

• A PayNow QR code lets customers pay your business instantly via their banking app, no card terminal needed. You can display a static QR at your counter or use a dynamic QR for eCommerce and invoices.

• To accept PayNow as a business, you register for PayNow Corporate, which links your Unique Entity Number (UEN) to a Singapore bank or e-wallet account.

• Airwallex Payments lets you generate dynamic PayNow QR codes for your eCommerce store, payment page, or Xero invoices. It also supports 160+ other payment methods if you sell beyond Singapore.

PayNow QR codes are one of the fastest ways for a Singapore business to accept cashless payments.

In this guide, we explain how PayNow QR codes work, the difference between static and dynamic QR codes, and how to set one up, whether you run a physical store, sell online, or send invoices.

We also cover what PayNow QR cannot do (such as accepting payments from overseas visitors) and how to fill that gap.

What is a PayNow QR code?

PayNow is Singapore's instant funds transfer service. A PayNow QR code is the scannable version of your PayNow details. This section explains what each one is and how personal and business codes differ.

What is PayNow?

PayNow lets customers of participating banks and major payment institutions send and receive SGD funds from one bank or e-wallet account to another.

Users only need a mobile number, a Singapore identity number (NRIC or FIN) or a Virtual Payment Address (VPA). The sender doesn't need to know the recipient's bank or account number.

PayNow is free to retail customers and runs 24/7, 365 days a year.¹

What is a PayNow QR code?

A PayNow QR code is a scannable code that holds your PayNow details. Customers scan it with their banking app, enter the amount if the code doesn't include one, and confirm the payment.

This means you don't have to read out your UEN or mobile number, and customers don't have to type it in. They can scan the code with the mobile banking app of a participating bank. They can also use selected apps from participating major payment institutions.

PayNow QR codes are integrated with the Singapore Quick Response Code (SGQR) scheme.

Personal vs business PayNow QR codes

Personal and business PayNow QR codes work the same way for the customer who scans them. The difference is who the code is linked to and how you register.

If you run a business, use the business version. It lets customers pay your company directly by UEN. Businesses also can't add a surcharge when customers pay with PayNow.

Static vs Dynamic PayNow QR codes

There are two types of PayNow QR codes, static and dynamic. Here’s a quick overview:

Static PayNow QR code

A static QR code is fixed. It identifies your business, usually through your UEN, but doesn't include an amount. The customer scans it, then types in how much to pay.

Static codes suit fixed prices or a single counter. Ask your bank about an SGQR label, which puts PayNow and other payment options on one label. At DBS, you can also add a fixed payment reference of up to 25 characters.²

Dynamic PayNow QR code

A dynamic QR code is created for a specific payment and can carry details such as the amount. The customer scans it and confirms, with nothing to type.

Some banks let you create these codes yourself. DBS, for example, lets you set the amount, a description and an expiry date for each code.

For online stores and invoices, a payment gateway like Airwallex Checkout creates the code and matches the payment to the right order for you.

How do PayNow QR codes work?

When a customer scans your PayNow QR code, their banking app starts a PayNow transfer to your account.

The transfer runs on Fast and Secure Transfers (FAST), an electronic funds transfer service for Singapore dollar payments. Funds arrive almost instantly, and most participating banks offer FAST 24x7.³ Some banks apply a cut-off time, so check with yours.

The exact flow depends on whether you use a static or dynamic code.

In-person payment (static QR)

This is the most common flow for shops and stalls.

• You display your QR code at the counter.

• The customer logs in to their bank's mobile app and scans the code.

• They enter the amount if the code doesn't include one, then confirm the transfer.

• You check for payment confirmation before you hand over the goods.

Online or invoice payment (dynamic QR)

This flow applies when a payment provider creates a unique QR code for each payment.

• The customer chooses PayNow at your checkout or opens your invoice.

• A QR code appears with the amount already set.

• They scan it with their banking app, check the details and confirm.

• The payment provider records the payment against the right order or invoice.

Paying on a mobile phone

Customers who pay on their phone face extra steps. They must save the QR code image, switch to their banking app, upload the image to complete the payment, then return to your site. Add a clear instruction at checkout to guide them.

How to set up PayNow QR for your business

Here’s how you can set up PayNow QR for your business.

Register for PayNow Corporate

You need a Singapore bank or e-wallet account with a participating institution. The Association of Banks in Singapore (ABS) lists 23 banks and six major payment institutions, including DBS/POSB, OCBC, UOB, Maybank and HSBC.¹

Registration is a one-time step, and the process is similar across banks:

• Log in to your bank's business banking platform.

• Find the PayNow registration option.

• Link your UEN to the account where you want to receive payments.

• Follow the steps your bank gives you to complete registration.

If you need help, contact your bank.

Get a QR code for your shop

Your bank issues your static QR code. At DBS, for example, you register your PayNow proxy for SGQR in DBS IDEAL or with a form, and you receive a printed label.

• Ask your bank for a static PayNow QR code or SGQR label linked to your UEN.

• Print the code, or collect the printed label from your bank.

• Display one label at your counter. You only need one SGQR label per storefront, and only plain frames are allowed.²

• Make a small test payment to check that it works.

Only use codes from your bank or payment provider. Check regularly that nobody has covered your label with another code.

Accepting PayNow online and on invoices

For online payments, a payment provider creates the QR code.

For example, Airwallex lets you offer PayNow at checkout using a plugin such as Shopify. Each PayNow payment gets a dynamic QR code with the amount already set, and Airwallex matches completed payments to the right order.

For invoices, Airwallex's Xero integration adds a "Pay now" button to your Xero invoices. Clicking it takes clients to an Airwallex-hosted payment page where they can pay via PayNow or other payment methods.

If you don't have a website, Payment Links let you share a payment page by email, WhatsApp or SMS.

Fees and limits

PayNow is free to retail customers, but each bank sets its own fees for businesses. Check your bank's fees before you register. If you use a payment provider, it charges its own fees on top.

Each transfer can be up to S$200,000, subject to daily, monthly or annual limits set by your bank.³ Contact your bank for your own limits.

Can overseas customers pay with PayNow QR?

Generally, no. PayNow is designed for Singapore dollar payments between bank and e-wallet accounts in Singapore. Most overseas customers don't have a Singapore bank account or a participating Singapore e-wallet, so they can't pay by scanning your code.

This matters if you serve tourists, have regional customers or sell online internationally. A PayNow-only setup limits how these customers can pay you.

What about PayNow's cross-border links?

Singapore has linked PayNow with three overseas payment systems:

• PromptPay in Thailand

• UPI in India

• DuitNow in Malaysia.¹ 

This lets eligible customers of participating institutions send money between the two countries. Only some banks and institutions offer each link.

These links work by keying in the recipient's registered mobile number or ID. They aren't the same as scanning a PayNow QR code at your counter or checkout.

How to accept payments from overseas customers

If you regularly serve overseas customers, you'll need payment methods beyond PayNow. Our guide to QR code payments in Singapore covers the QR methods that tourists and regional customers use, such as Alipay+ and WeChat Pay.

Accept PayNow and 160+ local payment methods with Airwallex

Airwallex supports PayNow alongside 160+ local payment methods across 180+ countries, including DuitNow, WeChat Pay and Alipay.

For eCommerce, Airwallex's payment gateway lets you offer PayNow at checkout alongside cards and other payment methods.

Each PayNow transaction generates a dynamic QR code with the payment amount pre-filled, and completed payments are automatically matched to the correct order. Airwallex integrates with platforms such as Shopify, or you can use the API to build your own checkout experience.

Frequently asked questions (FAQs)

What is the difference between a PayNow QR code and an SGQR code?

A PayNow QR code is linked specifically to the PayNow service: it encodes your UEN so customers can pay you via PayNow. An SGQR code is a unified label that combines multiple payment schemes (including PayNow, NETS, and supported e-wallets) into a single QR. Your bank-generated PayNow QR is typically already in SGQR format, meaning it is compatible with all major Singapore banking apps.⁴

Do I need a separate QR code for each payment method I accept?

No. The SGQR standard lets you display a single QR code that supports multiple payment schemes at once.⁴ Customers scan it and their app picks the relevant payment method automatically. If you accept payments through Airwallex, one dynamic QR code can support PayNow and 160+ other payment methods through a single integration.

Can overseas customers pay using my PayNow QR code?

Not via PayNow directly; it requires a Singapore bank account or registered Singapore e-wallet. Singapore has real-time payment linkages with Thailand (PromptPay), India (UPI), and Malaysia (DuitNow), which allow fund transfers between countries.⁶ However, these linkages are for transfers, not counter QR scanning by tourists. For international customers, you need a payment gateway that supports their preferred local payment methods.

Does a PayNow QR code expire?

Static PayNow QR codes do not expire; they are tied to your UEN and remain valid as long as your PayNow Corporate registration is active. Dynamic PayNow QR codes are generated per transaction and may expire after a set period depending on your payment gateway's configuration.

How do I track and reconcile payments made via PayNow QR?

For static QR payments made directly through your bank, each transaction is logged in your bank's online banking platform with a reference number and payer name. For dynamic QR payments through a payment gateway, reconciliation is automatic; each QR is linked to a specific order or invoice. Airwallex logs all transactions in your dashboard and integrates with Xero for accounting.

What are the transaction limits for PayNow QR payments?

Transaction limits are set by each participating bank and vary by institution.⁵ Some banks allow up to S$200,000 per transaction for business accounts. Check with your bank directly for your specific daily and per-transaction limits.

Sources

1. https://abs.org.sg/-/media/PNG2-Phase-1-Collaterals_PDDC/PayNow-Gen2-Phase-1-Report_25-June-2026.pdf

2. https://www.abs.org.sg/e-payments/fast

3. https://www.abs.org.sg/e-payments/pay-now

4. https://www.mas.gov.sg/development/e-payments/sgqr

5. https://abs.org.sg/docs/library/fast-faq---23-jul-2026.pdf

6. https://www.abs.org.sg/e-payments/pay-now