PayNow is Singapore's national real-time payment network, operated under the Association of Banks in Singapore (ABS) and regulated by the Monetary Authority of Singapore (MAS). It runs on FAST, a standardized payment rail that connects 15 banks and 4 non-bank financial institutions, meaning virtually every Singaporean with a bank account or e-wallet can pay through it.

Checkout is QR-based. The shopper scans with their bank or wallet app, authenticates, and the payment settles in real time. No card details, no redirects, no friction. Settlement for merchants lands in SGD within 1 day.

Covid accelerated adoption significantly, and PayNow is now the default mental model for in-person and online payments among Singaporean consumers. For merchants, the economics are straightforward: at 1.30% plus a flat fee, it's cheaper than cards and carries no chargeback risk.

Partial refunds and multiple partial captures are supported, making it operationally flexible. If you're selling into Singapore, PayNow is the lowest-cost, highest-familiarity option on the market.