Singapore going towards cashless society with Paynow Corporate Businesses in Singapore can receive payments from consumers and transfer funds to other businesses through PayNow Corporate, a service expected to launch around August this year. The service will be offered by 7 banks, which are already offering PayNow to their retail customers, namely Citibank, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United Overseas Bank. Following the success of the peer-to-peer PayNow scheme, Singapore takes one more step in going cashless. To use PayNow Corporate, businesses need to first link their bank accounts to their Unique Entry Numbers (UENs). […]