PayNow QR Code: Complete guide for Singapore businesses (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.

• PayNow Corporate now reaches over 350,000 business entities in Singapore and has more than 11 million proxy registrations, covering over 90% of the adult population.¹

• 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 are PayNow QR codes?

PayNow is a Singapore fund transfer service that lets customers send and receive money instantly.

With PayNow, customers can pay using just a mobile number, National Registration Identity Card (NRIC), or Unique Entity Number (UEN).

A PayNow QR code is a quick way for your business to receive these instant payments. Instead of sharing your UEN verbally or asking customers to type it in, you display a QR code. The customer scans it with their banking app and pays in seconds.

Note on mobile checkout: If a customer is paying on their mobile phone (rather than scanning with a separate device), they will need to save the QR code image to their photo gallery, open their banking app, and scan from there.

This is a known limitation of the mobile browser flow; design your checkout page with a clear instruction to guide customers through this step.

Static vs Dynamic PayNow QR codes

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

Static PayNow QR code

A static QR code is fixed. It encodes your business identity (typically your UEN) but not the payment amount. The customer scans it, then manually types in how much to pay.

Static QR codes are free to generate from your bank's portal and are widely used by hawker stalls, market vendors, and businesses with fixed prices.

Dynamic PayNow QR code

A dynamic QR code is generated fresh for each transaction. It includes the exact payment amount, so the customer just scans and confirms, without any manual entry required.

Dynamic QR codes are used for eCommerce checkouts, invoices, and any setting where the transaction amount varies. Payment gateway providers like Airwallex generate the QR code for you; you don't need to build the QR logic yourself, just set up the integration once.

How do PayNow QR codes work?

PayNow QR codes work by encoding your business payment details into a scannable code.

When a customer scans it with their banking app, the app reads those details and initiates a transfer directly to your account via Singapore's FAST (Fast and Secure Transfers) network.² Funds arrive in seconds, 24 hours a day, seven days a week.

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

In-person payment (static QR)

This is the most common flow for physical stores and hawker stalls.

• You display your printed or on-screen static QR code at the counter.

• The customer opens their banking app and taps "Scan & Pay."

• Your business name appears on their screen. They type in the payment amount.

• They confirm the transfer. Funds reach your account instantly.

• You receive a notification from your bank. No receipt printer needed.

Online or invoice payment (dynamic QR)

This flow applies when your payment gateway generates a unique QR per transaction.

• The customer selects PayNow at your checkout or on your invoice.

• A dynamic QR code appears with the exact payment amount already embedded.

• The customer scans with their banking app, reviews the pre-filled amount and your business name, then confirms.

• Payment is processed. Your gateway logs the transaction automatically against the correct order.

• The customer is redirected back to your store or receives a payment confirmation.

What is PayNow Corporate and why does your business need it?

PayNow Corporate is the business version of PayNow. It lets businesses, government agencies, and other organisations receive instant SGD payments by linking their Unique Entity Number (UEN) to a Singapore business bank account.³

While business owners can technically receive payments using a personal PayNow QR linked to their mobile number or NRIC, PayNow Corporate is the standard setup for businesses.

It lets customers pay your business using its UEN and enables features such as business PayNow QR codes and SGQR+.

How to register for PayNow Corporate

To register, you need a corporate bank account with one of the participating banks or Major Payment Institutions (MPIs).

ABS lists more than 20 participating institutions, including DBS/POSB, OCBC, UOB, Maybank, HSBC, Citibank, Standard Chartered, Bank of China, and CIMB, among others.³

The registration process is similar across banks:

• Log in to your bank's business banking portal or mobile app.

• Navigate to the PayNow or Payments section and look for "Manage PayNow" or "Register UEN."

• Link your UEN to your business bank account and follow the on-screen steps.

• Once approved, you can generate a PayNow QR code directly from your banking dashboard.

Registration is typically free. The time to approval varies by bank but is usually completed within one to two business days.

How businesses use PayNow Corporate

Once registered, you can accept PayNow payments across several channels:

At a physical store

A customer scans your SGQR+ code at the counter. The SGQR+ is a unified QR label that lets you display a single code for PayNow and other QR-based payment methods — so your counter stays uncluttered.⁴

On your eCommerce store

You integrate PayNow Corporate into your payment gateway. Customers choose PayNow at checkout and scan a dynamic QR code. Payment gateways like Airwallex handle the QR generation and order reconciliation automatically.

On invoices

You embed your UEN or a PayNow QR code on invoices you send to clients. Airwallex's integration with Xero automatically generates a dynamic PayNow QR code on your Xero invoices, so clients can pay in one scan without entering any amount or reference manually.

How to get a PayNow QR code for your business

Once you've registered for PayNow Corporate, the next step depends on how you plan to accept payments.

For in-person payments

Generate a static PayNow QR code from your bank's business banking portal or app, then print and display it at your counter. Many banks also let you request an SGQR+ label, which combines PayNow with other QR payment methods into a single code.

For online payments and invoices

Dynamic PayNow QR codes are generated by your payment provider, not your bank.

If you use a payment gateway such as Airwallex, a unique QR code is created automatically for each checkout, invoice, or payment link. The payment amount is pre-filled, and the transaction is automatically matched to the correct order or invoice.

Fees

Receiving PayNow payments directly into your bank account is generally free. If you use a payment gateway to generate dynamic QR codes, you'll pay the provider's transaction fee instead.

Can overseas customers pay with PayNow QR?

Generally, no. PayNow is designed for payments within Singapore. Most overseas customers cannot pay via PayNow because they do not have a Singapore bank account or participating Singapore e-wallet.

This matters if your business serves tourists, has regional customers, or sells online internationally. A PayNow-only setup limits how customers outside Singapore can pay you.

What about PayNow's cross-border linkages?

Singapore has established real-time payment linkages between PayNow and several overseas payment systems, including:

• PromptPay (Thailand)

• UPI (India)

• DuitNow (Malaysia)⁶

These linkages allow eligible users to send cross-border transfers using their local banking app.

However, they are not the same as universal merchant acceptance. They do not mean that every overseas customer can scan your PayNow QR code at checkout using their domestic banking app.

If your business regularly accepts payments from overseas customers, you'll typically need to support additional payment methods beyond PayNow.

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