Last updated: March 2026 | Last verified: March 2026

In Singapore’s digital payment ecosystem, PayNow Corporate with UEN QR code capability has transformed how businesses collect payments from customers, settle invoices, and manage cash flow. Whether you operate a retail shop, run an e-commerce site, provide professional services, or manage B2B transactions, PayNow Corporate allows you to receive instant SGD payments via your Unique Entity Number (UEN) or by displaying a scannable QR code, eliminating the need to share sensitive bank account details.

DBS Bank, as a founding member of PayNow, provides comprehensive PayNow Corporate services through DBS IDEAL and IDEAL Mobile, enabling businesses to generate PayNow QR codes, embed them into invoices and websites, and receive real-time payment notifications. This guide explains what the PayNow Corporate UEN QR code is, how it works, why businesses use it, and how to set it up with DBS for instant payment collection.

Check the official terms: PayNow Corporate features, transaction limits, fees, and technical specifications may vary by bank and business account type. Always verify current details with DBS or your bank before implementing PayNow QR solutions.

Quick Summary

•         PayNow Corporate is a Singapore business payment service that allows companies to receive instant SGD payments via their Unique Entity Number (UEN), which is linked to their corporate bank account.
•         A PayNow UEN QR code is an SGQR-compliant QR code representation of your business UEN, enabling customers to scan and pay without manually entering your UEN or account number.
•         DBS provides PayNow Corporate registration and QR code generation through DBS IDEAL and IDEAL Mobile, with no setup fees or monthly charges for basic PayNow Corporate functionality.
•         Businesses can publish PayNow QR codes on invoices, websites, email signatures, business cards, point-of-sale displays, and apps to accept payments from both individuals and other businesses.
•         PayNow QR follows the Singapore Quick Response Code (SGQR) standard launched by MAS and IMDA, allowing one unified QR to accept PayNow, NETS, and e-wallet payments.
•         Incoming PayNow transactions appear in real-time on DBS IDEAL with payer name and reference details for easy reconciliation, with optional email alerts for payment notifications.
•         DBS pledged in 2021 to keep PayNow Corporate adoption costs low and affordable, with no transaction fees for basic PayNow Corporate services (charges may apply for advanced merchant solutions).

Definition: What Is PayNow Corporate UEN QR Code?

Definition box

PayNow Corporate: A Singapore business payment service operated by participating banks that enables companies to receive instant SGD fund transfers via their Unique Entity Number (UEN), which is registered as a proxy linked to their corporate bank account, eliminating the need to disclose bank account numbers to payers.

Unique Entity Number (UEN): A unique identification number assigned to all registered businesses and organizations in Singapore by the Accounting and Corporate Regulatory Authority (ACRA) or relevant government agency, used for official filings, tax matters, and now PayNow Corporate registrations.

PayNow UEN QR Code: An SGQR-compliant QR code that contains your business UEN (and optionally payment amount and reference details), allowing customers to scan with their mobile banking app to initiate instant PayNow payments without manually typing the UEN.

Singapore Quick Response Code (SGQR): A unified QR code standard launched by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) that consolidates multiple payment schemes (PayNow, NETS, e-wallets like GrabPay) into a single scannable QR, reducing clutter for merchants.

Key characteristics:

•         Links your business UEN directly to your corporate SGD bank account for instant payment receipt.
•         Works via FAST (Fast and Secure Transfers) payment rails for real-time settlement.
•         Supports payments from individuals via personal mobile banking apps and businesses via corporate banking apps.
•         QR codes can be static (fixed UEN only) or dynamic (includes amount and reference for each transaction).
•         Integrated with the SGQR standard, allowing acceptance of multiple payment methods through one QR.
•         Transactions appear immediately in DBS IDEAL with the payer name, reference number, and amount for reconciliation.
•         No monthly fees or setup charges for basic PayNow Corporate service at DBS.

What it’s not:

•         Not a proprietary DBS-only system; PayNow is a Singapore-wide interbank service accessible across participating banks.
•         Not a credit card or e-wallet; PayNow transfers funds directly between bank accounts using the FAST infrastructure.
•         Not limited to Singapore residents; any entity with a Singapore UEN and corporate bank account can use it.
•         Not a replacement for merchant terminals or card acceptance; it complements existing payment methods.

Why Businesses Use PayNow Corporate UEN QR Code

PayNow Corporate with UEN QR code addresses key pain points in business payment collection:

1. Instant Payment Collection Without Sharing Bank Details

Traditional methods require disclosing your bank account number on invoices, websites, or payment instructions, creating security and privacy concerns. PayNow Corporate allows you to:

•         Publish only your UEN (a public business identifier) instead of sensitive account numbers.
•         Receive payments instantly without waiting for cheques clearance or bank transfer processing delays.
•         Eliminate the risk of customers mistyping long account numbers, which causes failed or misdirected payments.

2. Simplified Customer Experience with QR Scanning

Customers no longer need to:

•         Manually type UEN or account numbers (error-prone and time-consuming).
•         Remember or save your payment details for future transactions.
•         Switch between apps or platforms; they scan the QR within their existing banking app.

This reduces friction at checkout, improves conversion rates, and accelerates payment turnaround.

3. Real-Time Payment Notifications and Reconciliation

DBS IDEAL displays incoming PayNow transactions immediately with:

•         Payer name (as registered with their bank) for identity verification.
•         Customer reference (invoice number, order ID, or custom reference embedded in QR or entered by payer).
•         Transaction amount and timestamp for instant reconciliation.
•         Optional email alerts via DBS IDEAL eAlerts for real-time notifications.

This eliminates manual matching of bank statements to invoices and reduces accounts receivable workload.

4. One QR for Multiple Payment Methods (SGQR)

Before SGQR, merchants had to display separate QR codes for PayNow, NETS, GrabPay, FavePay, and other e-wallets, creating visual clutter and customer confusion. SGQR consolidates all payment rails into one QR code:

•         Customers scan the same QR regardless of their preferred payment method.
•         Merchants display only one QR at counters, on invoices, and on websites.
•         Compliance with Singapore regulatory guidelines requiring a single SGQR display at physical storefronts.

5. Zero Setup and Transaction Fees (Basic Service)

DBS pledged in February 2021 to keep PayNow Corporate adoption costs low and affordable for SMEs and corporates. Basic PayNow Corporate registration and QR code generation through DBS IDEAL are provided at no charge, with no monthly fees or per-transaction costs for standard PayNow FAST payments.

This contrasts with traditional merchant services, credit card terminals, and payment gateway fees (typically 2 to 3 per cent per transaction), making PayNow particularly attractive for high-volume or low-margin businesses.

How PayNow Corporate UEN QR Code Works

General Process: Setup to Payment Receipt

For Businesses (Receiving Payments):

Step 1: Register for PayNow Corporate: Log into DBS IDEAL (your corporate internet banking portal). Navigate to PayNow Corporate registration. Select the SGD corporate account you want to link to your UEN. Enter your business UEN and confirm your registered entity name. Set transaction limits and notification preferences.

Step 2: Generate PayNow QR Code: After PayNow Corporate is activated, access the QR code generation feature in DBS IDEAL or IDEAL Mobile. Download your static PayNow QR (contains only your UEN) or generate dynamic QR codes (includes specific amount and reference for each invoice or transaction).

Step 3: Publish QR Code: Display your PayNow QR on: Invoices and billing statements, Business website and checkout pages, Email signatures and payment reminders, Business cards and marketing materials, Point-of-sale counters and in-store signage.

Step 4: Receive Payment Notifications: When a customer scans your QR and completes payment, the funds are transferred instantly via FAST. The transaction appears immediately in your DBS IDEAL account statement with the payer name, reference, and amount. If you subscribed to eAlerts, you will receive an email confirmation.

For Customers (Making Payments):

Step 1: Scan PayNow QR: Open mobile banking app (any PayNow participating bank, including DBS digibank, OCBC, UOB, etc.). Select the Scan and Pay or PayNow QR function. Point the camera at the merchant’s PayNow QR code.

Step 2: Verify Transaction Details: The app displays the merchant’s registered business name, payment amount (if dynamic QR), and reference field. Customer verifies details are correct.

Step 3: Confirm Payment: Customer enters any additional reference information if required (for static QR). Authorizes payment using biometric authentication or PIN. Funds are debited from their account and transferred instantly to the merchant.

Static vs Dynamic PayNow QR Codes

Static PayNow QR:

•         Contains only your UEN.
•         Customer must manually enter the payment amount and reference.
•         Best for: General-purpose displays (storefront, business card, website contact page).
•         Generated once and reused indefinitely.

Dynamic PayNow QR:

•         Contains UEN, specific payment amount, and reference (invoice number, order ID).
•         Customer sees pre-filled amount and reference; only needs to confirm payment.
•         Best for: Invoices, checkout pages, specific transactions.
•         Generated per transaction using DBS IDEAL specifications or third-party invoice systems.

Dynamic QR significantly reduces errors and speeds up reconciliation by embedding transaction metadata directly in the QR.

Common Use Cases for PayNow Corporate UEN QR Code

Retail and F&B Businesses

Display static SGQR at checkout counters. Customers scan and pay instead of using cash or cards. Instant settlement improves cash flow. Zero merchant discount rate compared to credit card fees.

Professional Services (Consultants, Lawyers, Accountants)

Embed dynamic PayNow QR on invoices sent via email or accounting software. Clients scan the QR to pay instantly without bank transfer delays. Invoice reference auto-populates for easy matching in accounts receivable.

E-commerce and Online Businesses

Integrate PayNow QR on checkout confirmation pages or payment emails. Customers complete payment via mobile banking without leaving the purchase flow. Real-time payment notification triggers order fulfilment immediately.

B2B Payments and Corporate Invoicing

Corporate customers scan QR using DBS IDEAL Mobile or other corporate mobile banking apps. Faster payment cycles compared to traditional telegraphic transfers or cheques. Both parties have instant digital payment records for audit trails.

Subscription and Recurring Billing

Generate a unique dynamic QR for each billing cycle. Customers pay monthly invoices by scanning, eliminating manual bank transfers. Reference field ensures accurate subscription period tracking.

Event Ticketing and Donations

Event organizers display PayNow QR for ticket purchases or on-site payments. Charities and non-profits use QR for instant donation collection. Transparent real-time fund tracking for compliance and reporting.

How to Set Up PayNow Corporate UEN QR Code with DBS

Prerequisites

Before registering for PayNow Corporate with DBS:

•         Active DBS corporate SGD current account or savings account.
•         DBS IDEAL corporate internet banking access with appropriate user permissions.
•         Valid Singapore business UEN issued by ACRA or the relevant authority.
•         Confirmation that your business entity name in bank records matches the ACRA registration.

Registration Steps via DBS IDEAL

Step 1: Log in to DBS IDEAL

Access your DBS corporate internet banking portal at https://ideal.dbs.com.

Step 2: Navigate to PayNow Corporate

Find PayNow Corporate under the Payments or Services menu. Select Register for PayNow Corporate.

Step 3: Link UEN to Account

Enter your business UEN. Select the SGD account you want to link for receiving PayNow payments. The system will display your verified entity name from official records.

Step 4: Configure Settings

Set daily and per-transaction limits if required. Enable eAlert notifications for incoming PayNow payments (optional but recommended). Review and accept terms and conditions.

Step 5: Approve Registration

For accounts requiring maker-checker approval, the authorised user must approve the PayNow Corporate registration. Registration typically activates within minutes to one business day.

Generating and Downloading PayNow QR Code

1. After PayNow Corporate is active, return to the PayNow Corporate section in DBS IDEAL.
2. Select Download QR or a similar option.
3. For static QR (general use): Download the QR image file containing only your UEN. Use this on business cards, storefronts, and general marketing.
4. For dynamic QR (per-transaction): Use DBS-provided QR code specifications to generate QR codes programmatically via your invoicing or payment systems. Specifications are typically available in DBS developer documentation or via the DBS relationship manager.

FAQs: PayNow Corporate UEN QR Code and DBS

1. Is there a fee for PayNow Corporate at DBS?

DBS provides PayNow Corporate registration and basic QR code generation at no charge, with no monthly fees or per-transaction costs for standard PayNow FAST payments. DBS pledged in 2021 to keep adoption costs low and affordable for businesses. Advanced merchant solutions or integration services may have separate pricing; consult your DBS relationship manager for details.

1. Can individuals pay my business using PayNow UEN QR?

Yes. Any individual with a PayNow-enabled personal banking app (DBS digibank, OCBC, UOB, or other participating banks) can scan your PayNow UEN QR code and make instant payments to your business account.

1. Can other businesses pay me using PayNow Corporate?

Yes. Corporate customers can scan your PayNow QR using their corporate mobile banking app (such as DBS IDEAL Mobile) to initiate PayNow FAST payments from their business accounts to yours.

1. What information appears on my bank statement for incoming PayNow payments?

DBS IDEAL displays: Payer name (as registered with their bank), Customer reference (up to 25 characters, entered by payer or embedded in QR), Payer bank transaction reference, Purpose code description, and Payment amount. The narration will show “Inward PayNow” for easy identification.

1. Will my customers see my bank account number?

No. Customers only see your registered business entity name when they scan your PayNow QR. Your UEN is used as the payment proxy, and your actual bank account number remains confidential.

1. What is SGQR, and how does it relate to PayNow QR?

SGQR (Singapore Quick Response Code) is a unified QR standard launched by MAS and IMDA that consolidates multiple payment schemes (PayNow, NETS, GrabPay, etc.) into one QR code. PayNow QR codes generated via DBS are SGQR-compliant, meaning they can be part of a multi-scheme SGQR label for physical storefronts.

1. Can I use the same PayNow QR across multiple locations or online platforms?

Yes, for static QR (containing only UEN). You can display the same static QR at multiple locations, on your website, business cards, and invoices. For dynamic QR (with amount and reference), generate unique codes per transaction or location for proper reconciliation.

1. How do I reconcile payments received via PayNow?

DBS IDEAL account statements show the payer name and the reference field for each incoming PayNow transaction. If you use dynamic QR codes with embedded invoice numbers or order IDs, reconciliation is automated via matching the reference field to your invoicing system.

1. Are there transaction limits for PayNow Corporate?

Yes. Default limits vary by bank and account type. You can configure daily and per-transaction limits during PayNow Corporate registration or adjust them later via DBS IDEAL settings. Contact DBS for specific limit details applicable to your account.

1. What if I need to change my linked bank account or UEN?

Log in to DBS IDEAL and navigate to PayNow Corporate settings. You can update linked accounts or deregister and re-register with a different UEN if your business structure changes. Note that changing your UEN will require generating new QR codes.

Best Practices for Using PayNow Corporate UEN QR Code

Use Dynamic QR for Invoices

Generate unique QR codes per invoice with embedded amount and reference. This eliminates manual data entry errors and speeds up reconciliation.

Display SGQR at Physical Locations

Use SGQR-compliant labels at storefront counters to accept PayNow, NETS, and e-wallet payments through one QR. Comply with Singapore regulations requiring a single SGQR display.

Enable eAlert Notifications

Subscribe to DBS IDEAL eAlerts for instant email notifications when PayNow payments are received. This allows immediate order fulfilment and customer confirmation.

Include Clear Payment Instructions

When publishing PayNow QR, provide simple instructions: “Scan QR with your mobile banking app to pay instantly.” Include your business name for customer confidence.

Test Before Public Deployment

Generate a test QR and scan it using different banking apps (DBS, OCBC, UOB) to verify that your entity name displays correctly and that payments route to the right account.

Keep UEN Registration Updated

Ensure your business entity name registered with ACRA matches your bank records. Mismatches can cause PayNow registration failures or customer confusion during payment.

References

[1] DBS Bank. DBS PayNow Corporate: Secure FAST & GIRO Payments via UEN. https://www.dbs.com.sg/corporate/solutions/cash-management/paynow-corporate

[2] DBS Bank. Accept Instant Business Payments with PayNow Corporate – DBS SME Banking. https://www.dbs.com.sg/sme/paynow

[3] DBS Bank. PayNow is on SGQR – Singapore. https://www.dbs.com.sg/sme/paynowsgqr

[4] The Association of Banks in Singapore (ABS). PayNow Singapore. (April 8, 2018). https://www.abs.org.sg/e-payments/pay-now

[5] DBS Newsroom. DBS pledges to keep digital adoption costs low and affordable for SMEs and corporates. (February 9, 2021). https://www.dbs.com/newsroom/DBS_pledges_to_keep_digital_adoption_costs_low_and_affordable_for_SMEs_and_corporates

[6] Wise Singapore Blog. How to Generate a PayNow QR Code for Your Business? (August 11, 2025). https://wise.com/sg/blog/how-to-generate-paynow-qr-code

[7] SGPayNowQR.com. PayNow UEN QR Code: What It Is, Why It Matters, And How to Get One. (September 24, 2025). https://sgpaynowqr.com/blog/paynow-uen-qr-code-what-it-is-why-it-matters-and-how-to-get-one/

[8] Asian Banking and Finance. Singapore’s PayNow expands to corporate fund transfers. (June 20, 2018). https://asianbankingandfinance.net/cards-payments/news/singapores-paynow-expands-corporate-fund-transfers

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