PayNow for Business: Who Qualifies and What You Get
Learn how sole proprietors can receive instant client payments using their business identification number.
PayNow for Business is a digital payment service that allows you to receive money from your clients instantly. It uses your Unique Entity Number (UEN), which is your business's official identification number, to direct payments straight to you.
Who it's for
This service is designed specifically for sole proprietors running their own business.
What you get
You can receive instant payments from your clients. Instead of using a phone number, they can send money directly to your business using your UEN.
What it costs you
The service is linked directly to your business bank account. You should check with your bank regarding any specific fees or requirements for linking your account.
The catch to know
It is important to keep your finances organized. Avoid mixing your personal PayNow account with your business PayNow account to ensure your business earnings are tracked separately from your private money.
How to apply
- Confirm you have a business bank account.
- Contact your bank to link your UEN to the service.
- Share your UEN with your clients for payments.
For more information, visit https://www.abs.org.sg