This initiative will help broaden consumer payment choice at checkout by providing Singaporeans the ability to transact through 9 major banks in Singapore. The company is in full preparation to launch a developer-friendly suite of APIs that will allow one integration for both cards and PayNow acceptance, according to the official press release.
PayNow will allow ecommerce businesses nationwide to accept payments through a fast and secure transfer (FAST) simply by scanning or uploading a QR code straight from the user's mobile device. Transactions that are processed through PayNow possess the same high-security standards as the banking industry in Singapore and are made through a registered mobile number, National Registration Identity Card (NRIC), or Unique Entity Number (UEN).
PayNow Corporate is a fund transfer service that was launched in 2018 as part of Singapore's Smart Nation initiative to serve its citizens and businesses through better technology. The e-payment service is to help open new doors for businesses across Singapore to facilitate instant, seamless, and secure digital transactions for consumers nationwide.The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
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