Receiving PayNow Transfer Limit and Timeframe
Transfer Limit | Timeframe |
SGD 200,000 | Instant |
Note: All transfers are subject to compliance checks by our team or partners, which may occasionally result in delays for your recipient in receiving the funds. Our team might email Admin and Finance users for additional details or documents needed to process your transfer. While we strive to complete these reviews quickly, we can't provide an exact timeline for when your recipient will receive the funds, as weekends, public holidays, and banking hours might also affect the timing. We appreciate your understanding and patience regarding any potential delays.
How to receive money via PayNow?
Your Aspire account can receive PayNow payments via VPA and QR Code for FREE!
Any app that can scan your QR Code or pay to your VPA can send funds to your account, but you need to activate your PayNow details first.
Once activated, Admin and Finance users can share the account details with the sender by following the steps below:
Under Frequently Used Actions, click "View all actions", then select "Add money".
Select your SGD Account.
Next, choose either "Receive via PayNow using VPA" or "Receive via PayNow using QR Code".
Copy your VPA code or download your QR code and share it with the sender.
Notes:
While the VPA may resemble your UEN number, it is not the same. Therefore, it is recommended that your sender does not choose "UEN" as the mode of transfer, as it is currently not supported by Aspire PayNow.
Some app interfaces may not display the sender's name in your transaction history. Please ensure the sender includes their name in the comments or description field so it appears in the transaction reference.
Frequently Asked Questions:
What type of transfers can I receive via PayNow?
PayNow is for receiving payments for goods and/or services provided, including payments from the Singaporean Government if they use supported payment methods.
The PayNow details shall not be used to receive funds for any other reason such as Investment funding, Capital Funding from owners of the firm, Director/UBO loans (e.g. transfers from a personal account to the company account), Trading, or any other Non-Goods & Services related services.
Failure to comply may result in your Paynow services being suspended from your account. Alternatively, you can receive payments to your SGD Account.
Can I reuse my PayNow QR code for multiple transactions?
Yes, your PayNow QR code is designed for multiple uses and does not expire after a single transaction. Once you've downloaded your PayNow QR code, you can:
Share it with multiple senders for different transactions
Display it at your business location or shop for customer payments
Include it in invoices or payment requests
This means you only need to download your PayNow QR code once, making it a convenient and efficient way to receive payments from various customers and partners. Your QR code will remain active as long as your PayNow service is enabled on your Aspire account.
Note: If your PayNow service becomes temporarily deactivated due to inactivity, you'll need to download the new QR code.
Can I request SGQR with Aspire PayNow?
Aspire works with a merchant partner to provide you with PayNow VPA and QR codes.
However, we are unable to provide you SGQR codes as you would need to be engaged directly with our merchant partners for this.
For more information on how to implement the SGQR for your business, please refer to this link, which provides a list of participating banks and merchant acquirers you can directly engage with.
Why did my PayNow QR Code & VPA not work?
There are three potential reasons why your PayNow QR Code or VPA may not work.
1. Your PayNow account was temporarily deactivated due to an extended period of inactivity
If this happens, please discard any previous PayNow QR code and VPA details, as they will no longer be valid. If you are unsure, please chat with our Support Team to cross-check and confirm this for you.
You can reactivate your PayNow details at any time to get a new set of QR Code and VPA details. If you are unable to request it again in-app, kindly access and complete our offline PayNow request form to have it re-activated.
2. Sender placed the wrong VPA details on the transfer
It is important to note that while your VPA may appear similar to your UEN number, it is not the same. Therefore, we recommend that you remind your sender to
NOT select "UEN" as the mode of transfer, as this option is not currently supported by Aspire PayNow.
Input your complete and accurate VPA details, including all necessary characters.
3. Sender's bank is unable to scan/send to your Aspire Paynow QR code/VPA
In the event a sender's external application is unable to scan/send to your Aspire Paynow QR code/VPA, please advise the sender to:
Raise this to their respective application provider and obtain a service request number.
Subsequently, inform our Support Team via chat of the issue along with the service request number, where we will proactively encourage the sender's application provider to work on a fix to their application.
Please also advise the sender to use an alternative application to send funds via Paynow.
Maybank senders cannot transfer to my PayNow VPA
For users using the Maybank app, kindly note that there is no need to input the complete VPA code of "UEN202XXXXXXXXXX#XNAP".
Instead, please ask your sender to follow the steps below:
Begin by selecting the PayNow ID Type, which is "VPA (UEN)".
Input the UEN Number as "202XXXXXXXXXX".
Lastly, choose "#XNAP" as the Institution from the provided dropdown list.
Once these steps are completed, they can proceed with the transaction.
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How long does it take for a PayNow transfer to be processed?
PayNow transfers are usually processed instantly. However, some transactions may take longer due to Aspire’s strict security checks and regulatory requirements. The review process for your PayNow transfer will also depend on when the transfer is made:
If you send a PayNow transfer before 6 PM on a business day, it will be reviewed the same day, and the money will be sent out on the next business day.
If you send a PayNow transfer after 6 PM, it will be reviewed the next business day.
Additionally, larger PayNow transfers may take an additional 1-2 business days to process as they require extra security checks. To avoid delays, we recommend using a FAST transfer for quicker processing, especially for high-value transactions.
Can I receive offline or in-person payments via PayNow?
Yes, you can receive offline or in-person payments via PayNow QR Code. Simply download and print your PayNow QR code, then display it at your store or payment counter.
After a customer makes a payment, always verify that the funds have been received in your Aspire account and that the amount matches the expected payment before completing the transaction. Do not rely solely on the customer’s confirmation.
Benefits of using PayNow with Aspire
Easy setup: Activate PayNow directly from your Aspire account. No extra apps or platforms needed.
Low cost: Enjoy no setup or monthly fees, and benefit from low or near-zero payment fees.
Fast settlement: Receive payments in real time or within the same day.
Simplified management: Handle all incoming payments from one Aspire account, no need to manage separate systems.
What if I'm using a POS system?
While Aspire does not integrate directly with POS systems or offer a POS terminal solution, you can still receive payouts from many POS providers if they support PayNow or bank transfer settlements.
Here are some helpful considerations when choosing a POS system:
Why consider a POS system?
A POS system is useful for:
Accepting physical card payments
Managing sales, inventory, and receipts in one system
Handling table or queue management (useful for F&B and service industries)
What to look for in a POS solution:
When choosing a POS system, consider the following:
Payout options:
Ensure the provider supports payouts via PayNow (to a VPA or QR code) or bank transfer, so you can receive funds in your Aspire account.Business tool integration:
To simplify operations, choose a system that easily connects with tools you already use, such as inventory tracking or accounting software.Ease of reporting and support:
Look for clear sales reporting, compatible hardware (e.g., scanners, printers), and responsive customer support in case you need help.
Popular POS providers in Singapore include:
Shopify POS
StoreHub
Qashier
EPOS
Before committing to a POS provider, confirm that they can pay out via PayNow (to a VPA or QR code) or direct bank transfer, both of which are supported by Aspire.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.