A new alternative payment mode now available for corporation and businesses. PayNow Corporate is launched this month. Businesses will need to register to link their corporate bank account number to the Unique Entity Number (UEN), in a similar way that PayNow is linked to mobile number or NRIC for individuals.
The benefit is consumers paying via PayNow Corporate instead of credit cards can potentially enjoy savings in credit card fees, although there will still be a segment of consumers who prefer to pay by credit cards to earn reward points. Click here to read the full article as published in Business Times.