Users can make or receive transfers between bank accounts and e-wallets as well as across e-wallets. They can also make payments to merchants who accept transfers via PayNow.
To support these transfers, a new payment proxy called the Virtual Payment Address has been introduced. This allows individuals to link their mobile number with an e-wallet, even if it is already linked to a bank account.
Users whose mobile numbers are already linked to a bank account under an existing PayNow registration do not need to de-register their mobile number, as the VPA differentiates PayNow registrations that are linked to bank accounts from those linked to e-wallets.
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