What will I see when I am transferring funds as a Payer?

If you are transferring funds to a retail Payee, upon entering the Payee’s PayNow proxy to make payment, you will only see selected letters of the Payee’s name as their updated PayNow name. This updated PayNow Payee name will also be shown in your financial institution’s statement and transaction records.

If you are transferring funds to a corporate Payee, there is no change and you will see the full registered account name of the company as per today. The full name of the corporate Payee will be shown in your financial institution’s statement and transaction records.

The above apply for all PayNow payment transfers initiated by you, including through Scan to Pay.

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