PayNow for Businesses: UEN QR, Display Names and Nickname Change

Three ways a business can receive PayNow

Your choice decides which name customers see, how payments are matched to orders, and how they appear in your books.

ABS's PayNow fact sheet explains that PayNow Corporate lets businesses, societies and other entities link their UEN to a Singapore bank or e-wallet account, and that you register through your bank's online platform.

What name customers see when they pay you

Before a PayNow transfer is confirmed, the payer's app shows the payee's display name. ABS describes this as a second check that the money is going to the intended party.

The ABS media release of 29 April 2026 says scammers had used nicknames copying established businesses and trusted people. It also states that "businesses using PayNow to receive payments via their UEN do not have access to the PayNow nickname feature and are unable to modify their registered account names."

For gateway payments, Stripe's PayNow documentation notes that customers see Stripe's name in their banking app. Tell customers what name to expect on your checkout page so they do not abandon the payment.

Why the 2026 nickname change matters for your business

The change was aimed at personal accounts, but it affects how customers judge any PayNow request.

• Customers now expect a real name. A sole proprietor collecting on a personal number will show up as a masked personal name, which looks less trustworthy than a business name.
• Scammers impersonating you are easier to spot, as long as customers know your real registered name. Put it on invoices and your website: "PayNow to UEN 2024XXXXXX, name shown: [your registered name]".
• Your bank account name matters. If your registered account name is an old or abbreviated version of your business name, ask your bank how it appears and whether it can be updated to match ACRA.

How to set up PayNow Corporate and create a UEN QR code

The exact menus differ between DBS, OCBC, UOB and other banks, but the steps are the same.

1. 1

   Open a business bank account

   PayNow Corporate is linked to a business account under your UEN. Sole proprietors also have a UEN from ACRA.

2. 2

   Register PayNow Corporate in business internet banking

   Look for PayNow under Payments or Services. A user with the right authorisation level usually has to approve it.

3. 3

   Check the display name

   Pay yourself S$1 from a personal account and look at the name shown before confirming. That is exactly what your customers will see.

4. 4

   Generate a QR code

   Most business banking platforms and apps generate a PayNow QR for your UEN. Choose static (no amount) or dynamic (amount and reference).

5. 5

   Display it in an SGQR label at the counter

   PayNow QR is integrated with SGQR, the single standard label that combines payment schemes. Ask your bank or acquirer for the label.

6. 6

   Set up notifications and reconciliation

   Turn on incoming-payment alerts and connect the bank feed to Xero or QuickBooks so PayNow receipts match invoices.

Static vs dynamic PayNow QR codes

A static QR contains only your UEN. The customer types the amount. A dynamic QR also carries a fixed amount, a reference such as the invoice number, and sometimes an expiry date.

Static QR codes are easy to tamper with: a scammer can stick their own code over yours. Check printed codes at the counter regularly and ask staff to glance at the payee name on the customer's screen for larger amounts.

ABS also states that entities are prohibited from imposing surcharges on consumers for PayNow transactions, so do not add a PayNow fee at checkout.

PayNow on your website and invoices

For a few invoices a month, a bank-generated dynamic QR on the invoice is enough. For online orders, you need payments to be matched automatically, which usually means a gateway or a payment link.

Our guides cover the options in detail: how to accept PayNow on your website, payment links and PayNow on invoices, and fees compared in HitPay vs Stripe.

Whichever route you choose, make a test payment and screenshot what the payer sees, so you can tell customers in advance.

Do it yourself or get help?

Registering PayNow Corporate and printing a QR code is a 20-minute job in your business banking portal. Do the S$1 test payment so you know what customers see.

Get help when you want PayNow inside a website checkout or booking system, one QR per order with automatic matching, or PayNow receipts flowing into Xero. Our Online Payment Setup (S$290) sets up the gateway in your own name, tests what customers see in their banking app, and adds the expected payee name to your checkout and invoices.