What is PayNow Corporate?
PayNow Corporate transforms the funds transfer process for entities such as corporates, businesses, Singapore Government agencies, associations, and societies by utilizing PayNow Corporate offered by participating banks.
Entities can seamlessly pay and receive Singapore Dollar funds instantly by associating their Unique Entity Number (UEN) issued in Singapore with their local bank account. There's no requirement for them to have knowledge of the recipient entity's bank or account number when making transfers.
To start receiving funds, entities must complete an online registration process on their bank's banking platform.
For further details regarding PayNow Corporate and the list of participating banks or MPI, please visit the ABS website at https://abs.org.sg/consumer-banking/pay-now.
PayNow Corporate - An Offline Payment Method in Gevme
This PayNow option is an offline payment, similar to a Cheque or Bank Transfer. Your Finance-In-Charge has to verify the payment receipt in your bank account and apply Payment in Gevme. This action finalises the payment process, prompting the release of confirmation emails and tickets.
For details on how to receive an offline payment in Gevme, please refer to this article: Receiving Offline Payment.
The Gevme's Order Number serves as the Bill Reference Number. This Bill Reference number will also be reflected in the receiving bank transaction for your reconciliation.
*More enhancements will be shared in the coming weeks on this.
How to set up PayNow Corporate for an Event
1. Under the Payment Module, click on PayNow from the Add a payment method dropdown.
2. Key in your company's Unique Entity Number (UEN)
Do note that you have to register for the PayNow Corporate service with your bank before setting up PayNow in Gevme. For guidance, please refer to https://abs.org.sg/consumer-banking/pay-now.
3. On the registration page, it will then look like this when the participant chooses the PayNow option
The Payment Flow for an Attendee
After submitting the registration form, the screen will promptly generate a PayNow QR code for the buyer to proceed with payment.
The PayNow QR code will display the full order amount, set and un-editable by the attendee.
After scanning the QR code and completing payment through their mobile banking app, attendees proceed by clicking "Confirm Payment." This action directs them to the Acknowledgment Page and triggers the Automated Acknowledgment Email set by the event organizer.
The registration is only confirmed once the organiser has verified the payment receipt in their bank account, apply Payment in Gevme and release the confirmation emails and tickets to the attendees.
For further clarification, please reach out to us at [email protected].