How to Generate a PayNow QR Code (and Get Paid Faster in Singapore)

If you're doing business in Singapore, one thing is clear: customers expect fast, hassle-free ways to pay. Whether you're running a café, an online store, or a freelance operation, making it easy for people to send you money is just good business. And in Singapore, PayNow QR codes are about as easy as it gets.

Scan, confirm, done. No typing account numbers, no waiting for cheque clearances, no chasing after payments. That’s why so many businesses, from hawker stalls to tech startups, are already using PayNow QR codes to speed up transactions.

But what about when your customers aren’t in Singapore?

That’s where solutions like Wise Business come in. Wise makes it just as simple to accept payments from overseas, thanks to features like Quick Pay (which includes your own reusable QR code), multi-currency local account details, and invoicing links.

In this guide, we’ll break down exactly how to generate a PayNow QR code, the pros and cons, how it works, and how to pair it with Wise Business so you can get paid from anywhere.

Table of contents
How to generate a PayNow QR code (and how it works) Static vs dynamic QR codes: What’s the difference? PayNow Corporate, the business setup you’ll need Steps to generate a PayNow QR code Going global: what PayNow can’t do, and where Wise Business comes in Best practices: setting up and using PayNow QR like a pro PayNow QR code FAQs

How to generate a PayNow QR code (and how it works)

Let’s start with the basics: what’s a PayNow QR code?

PayNow is Singapore’s real-time payment network¹. It lets individuals and businesses send money instantly — no bank account numbers needed. Instead, customers can send money using a mobile number, NRIC, or, for businesses, a UEN (Unique Entity Number).

A PayNow QR code turns those details into a scannable image that customers can use to pay you directly. It’s supported by pretty much every major banking app in Singapore.

Static vs dynamic QR codes: What’s the difference?

There are two types of PayNow QR codes you might use².

Static QR codes

Think of these like a reusable sign. It’s tied to your PayNow proxy — usually your business UEN. The customer scans the same QR code every time and manually enters the amount they want to send.

They are perfect for:

• Retail counters
• Food stalls
• Freelancers who charge variable fees

The upside? Simple and easy to print and paste anywhere.

The downside? Customers can mistype the amount or forget to enter a reference.

Dynamic QR codes

These are generated on the fly (usually through a POS system or payment platform) and include the exact payment amount and other details (like invoice numbers). No guesswork for your customer, no manual data entry, and no reconciling mysterious payments later.

They are perfect for:

• Online checkouts
• Billing clients
• Subscription or invoice-based businesses

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How it works (customer side)

Let’s say your customer is standing at your cashier or viewing your invoice online. Here’s what they do:

1. Open their mobile banking app
2. Tap “Scan & Pay”
3. Point the camera at your QR code
4. Confirm payment details
5. Hit send

That’s it. You get the money in seconds, and they get confirmation instantly. No account numbers, no delay.

PayNow Corporate, the business setup you’ll need

To start accepting payments with PayNow QR codes, you’ll first need to register for PayNow Corporate².

PayNow Corporate lets your business receive funds via your UEN (that’s your Unique Entity Number; every registered business in Singapore has one). It links your UEN to your bank account so customers can send payments directly, simply by scanning your QR code or entering your UEN.

Why use PayNow Corporate?

It’s faster, cheaper, and more trusted than many other local payment methods. Here’s why businesses are using it:

• No need to share full bank account details
• Instant settlements via FAST
• Customers already know and trust PayNow
• It works across banks — whether you’re with DBS, OCBC, UOB, or others

From mom-and-pop shops to government agencies, PayNow Corporate has become the go-to for local SGD payments.

Steps to generate a PayNow QR code

Here’s how to get started:

1. Register for PayNow Corporate: Log in to your bank’s business portal (like DBS IDEAL or OCBC Velocity) and link your UEN to your SGD account.
2. Request your QR Code (SGQR): This is done through your bank, usually under merchant services. The SGQR includes PayNow and other e-wallets (like NETS, GrabPay) if you want. You can often customise how your name appears too.
3. Receive and deploy: You’ll get a digital version you can start using immediately. Some banks will also mail you a physical sticker or table stand.
4. Start getting paid: Paste it at checkout. Add it to invoices. Drop it into your website footer. Wherever your customers interact with your business, that’s where your QR belongs.

➡️ Want a deep dive into the PayNow Corporate setup process? Check out our complete guide here.

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Why businesses love PayNow QR (and a few limitations)

The perks

• Checkout becomes effortless: Customers just scan and go. That’s a win for impulse purchases and reducing cart abandonment.
• Real-time cash flow: Payments hit your bank account in seconds, not days. Helpful if you need faster cash flow for paying vendors or managing operating costs.
• Trust and familiarity: PayNow is used by nearly 90% of Singapore’s population, so you’re meeting customers where they already are.

The trade-offs

• SGD only: You can’t receive foreign currencies via PayNow. If you have overseas customers or clients, you’ll need other options - more about this later.
• Transfer limits: Some banks cap per-transaction or daily limits.
• Tracking can be manual: If you’re using a static QR, you’ll need to manually match transfers to orders unless you ask customers to include references or use a platform that auto-reconciles.

For many businesses, though, the pros far outweigh the cons, especially for walk-in traffic, local services, or recurring clients.

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Going global: what PayNow can’t do, and where Wise Business comes in

PayNow is fantastic for SGD payments in Singapore. But what if you work with clients in the US? Or invoice agencies in Europe? Or get paid through platforms like Stripe or Amazon?

That’s where Wise Business comes in.

With Wise Business, you get an easy-to-use multi-currency account with local account details to receive funds in different currencies, just like having bank accounts in multiple countries, minus the hassle.

It’s built for both Singapore and overseas clients, so you’re not stuck with SGD-only options.

You can:

• Create a payment link and share it anywhere: in emails, invoices, or even a WhatsApp message
• Accept card payments from customers who prefer plastic over transfers
• Get paid by QR code, just like PayNow, but in multiple currencies

Last but not least, yes, you can generate a PayNow QR code in Wise Business if you want to quickly collect SGD payments from local customers.

This way, Wise has you covered for every payment scenario without the extra accounts you never log into, sky-high foreign exchange conversion fees, loaded exchange rate markups, or complex setups.

💡If you're growing a global business, you'll quickly face a daunting wall of costs, complexity, and hidden fees when receiving international payments. Wise Business helps you bypass this wall, making it easy to receive money from around the world and start getting paid like a local today.

• Obtain account details to receive payments in GBP, EUR, CAD, AUD and more for a one-time fee of S$ 99.
• Simply share your account details with customers or add them to invoices.
• Hold, send, and convert money at the mid-market rate in one account.
• Simplify customer payments with Wise request payment feature.
• Accept payments from customers and payment service providers (PSPs) like Stripe and Amazon.
• Generate payment links to request money in specific currencies.

➡️Get started with Wise Business today

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Best practices: Setting up and using PayNow QR like a pro

You’ve got your QR code; now here’s how to make it work for you.

When you’re getting started:

• Print it clean and clear: Display it at the cashier, on your counter, at tables, on your delivery packaging, wherever customers interact.
• Add it to invoices: Drop it into your invoice PDF, along with instructions like “Scan to Pay with PayNow.”
• Use suffixes for multiple accounts: If your company has more than one bank account, you can register your UEN with a 3-digit suffix (e.g., UEN123001) to keep transactions separate.

And when it comes to optimising for day-to-day:

• Keep it fresh: If you switch banks or update your UEN registration, request a new QR.
• Ask for references: For static QRs, encourage customers to include invoice numbers in the “Reference” field during transfer.
• Check your bank notifications: Most business accounts let you set up real-time alerts for incoming payments.

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PayNow QR code FAQs

How do I track and reconcile PayNow QR payments?

You’ll see payment details in your bank statement — usually with the payer’s name and any reference they typed. If you’re using a static QR, always encourage customers to enter their invoice or order number in the reference field. For higher volume, dynamic QR codes or platforms like HitPay can automate this.

Do PayNow QR codes expire?

Static QR codes don’t expire. You can use them indefinitely as long as your registration is active. Dynamic QR codes usually expire after a short time (e.g., 5–15 minutes), or after one use.

How can PayNow QR codes speed up payments?

By cutting out steps. No bank account numbers. No login required. No need to ask customers to email you proof of payment. Just scan, pay, done. That means faster checkouts, quicker invoice clearance, and happier customers.

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With Wise Business, you have local + global payments, sorted

If you’re running a business in Singapore, setting up a PayNow QR code is one of the simplest ways to streamline your payments. It’s easy, cheap, and used by just about everyone.

But why stop at local?

With Wise Business, you can accept payments just as easily from clients in the UK, US, Australia, or anywhere else using local bank details, payment links, or even your own global QR code with Wise Quick Pay. Wise Business also lets you generate your own PayNow QR codes for seamless SGD payments from your local customers. So whether you need to accept SGD payments or receive funds from around the world, Wise has you covered.

➡️Get started with Wise Business today

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Sources:

1. The Association of Banks in Singapore PayNow fact sheet
2. Wise PayNow Corporate

Sources checked on 11 August 2025