PayNow Generation 2

2026

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AI-generated summary

1) This report outlines the next wave of innovation for Singapore's instant payments system, PayNow, by identifying key enhancements to strengthen its infrastructure and user experience.
2) * Reviews PayNow's current state and benchmarks it against leading global instant payment systems.
* Identifies priority enhancements across customer experience, business payments, network coverage, and ecosystem enablers.
* Proposes a phased approach for implementing these enhancements to ensure a future-ready payment system.
3) PayNow, instant payments, Singapore, payment innovation, digital payments

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