LiquidPay

International real-time money transfers and QR payments

LiquidPay is a mobile payment app designed for digital nomads, international travellers and global citizens. With it’s Liquid Account e-wallet feature, users can easily send and spend like a local, *anywhere in the world.  

Liquid Account key features:

  • Faster and cheaper international real-time money transfers via PayNow
  • Secure and Convenient QR payments at all PayNow merchants and most hawkers

Coming soon:

  • Global Access: Anyone, anywhere can sign up and use LiquidPay 
  • Multi-Currency Account: Add money in the currencies you want 
  • Easy Exchange: Conveniently exchange in between currencies in-app 
  • Unlock QR Payments for Cards: Enjoy the XNAP-to-Pay method  
  • *Scan & Pay, Anywhere: Borderless QR payments with one of the world’s best FX rates

With our low best-in-market fees and competitive exchange rates, you can be confident that you are getting the best value for your money

*) Cross-border payments anywhere available soon.

 

What Is Liquid Account?

A new wallet feature for faster and more affordable international money transfers and QR payments. Link your PayNow-connected bank account with your LiquidPay wallet and enjoy the convenience of quick top-ups, secure QR payments and real time cross-border transfers, simply by using your mobile number, NRIC/FIN, UEN number, or Virtual Payment Address (VPA) proxy. 

LiquidPay Icon

Instant Overseas Remittance Made Easy with PayNow

LiquidPay enables you to send money to your loved ones in India and Malaysia faster and cheaper via PayNow.

Remit to India

Remit to Malaysia

How It Works?

 

 

  • Step 1 : Login to your preferred banking app and select the PayNow option.
  • Step 2 : Select PayNow to VPA (Virtual Payment Address).
  • Step 3 : Enter your full LiquidPay VPA: [+country code](mobile number)#XNAP (e.g.+6587654321#XNAP) 
  • Step 4 : Check that the Recipient’s Nickname is correct.
  • Step 5 : Enter the amount you wish to top up.
  • Step 6 : Confirm your transfer. Your top-up should be reflected on your LiquidPay app within 30 seconds.


  • Step 1 : Select “Transfer”.
  • Step 2 : Select “PayNow to Mobile” to pay to individuals or “PayNow to UEN” to pay to businesses.
  • Step 3 : Select the payment app with the payee’s account you wish to transfer to.
  • Step 4 : Select “Confirm” to complete transaction.

Remit Overseas

with LiquidPay App! 

Send money internationally faster, cheaper and safer than ever via Paynow and enjoy the ease of making QR payments on the go. 

Download Today! 

 

FAQs

What can this PayNow-UPI (“PN-UPI”) linkage enable?
The linkage provides a convenient (24/7), fast (near real time), secure and cost-effective means for customers of participating Banks and Non-Bank Financial Institutions (NFIs) in Singapore and India to perform cross borders transfers. 

In essence, Singapore’s PayNow and India’s *Unified Payments Interface (“UPI”) users will be able to send money instantly and securely across the two countries.   

  • A PayNow user of a participating bank/NFI in Singapore will be able to send money to a UPI user of a participating bank in India, and vice versa. 
  • A Singapore PayNow user sending money to India will need to key in the recipient’s registered UPI identity (“UPI ID”).  
  • An India UPI user sending money to Singapore will need to key in the recipient’s registered PayNow mobile number or Virtual Payment Address (“VPA”). 

 

*Unified Payments Interface, or UPI in short, is an instant real-time payment system developed by National Payments Corporation of India which facilitates inter-bank peer-to-peer transactions. 

How is this remittance solution different from what’s already in the market?
With this new PayNowUPI linkage, customers from India and Singapore are able to send and receive cross-border funds easily and quickly, with just their mobile numbers / VPA / UPI IDs, in near real time and at competitive rates.  There is no need to remember or note down the recipient’s bank name, account number and other banking details or wait for 1 to 2 days for the cross-border transfer to be completed.  There is also no need for the recipient to share his/her bank account details with the sender.
What is the maximum that I can transfer? What is the maximum that I can receive?
There is no limit on the number of transactions that a user can make per day. 

However, there is currently a daily cap of SGD1,000 or equivalent in Indian Rupees (“INR”) for funds transfers made between users in Singapore and India respectively.  

Which are the current participating Indian banks that I can send and receive funds from?
There are 6 UPI banks from India currently participating in this scheme for receiving funds transfers are:  

  • Axis Bank 
  • DBS India 
  • ICICI Bank 
  • Indian Bank 
  • Indian Overseas Bank 
  • State Bank of India 

 

There are 4 UPI banks from India currently participating in this scheme for sending funds transfers are:  

  • ICICI Bank 
  • Indian Bank 
  • Indian Overseas Bank 
  • State Bank of India
Will there be more participants in the future?
Once the PayNow-UPI linkage is established, further participants (both banks and NFIs) may be onboarded to offer this service to their customers.   
How do I make use of this to send money to someone in India?
The process is the same as with the current PayNow process. Instead of keying in a PayNow user mobile number (eg: +6512345678) or VPA (eg: +6512345678#XNAP), you may now enter the UPI ID of your recipient who has a registered UPI ID.  Examples of UPI ID are: 

8291847137@xxxxx  

divyanag@xxxxx 

divya-nag@xxxxx 

divya.nag@xxxxx 

For the current phase, the beneficiary in India (payee) should be an account holder, as also the UPI ID holder of any of the below participating banks (i.e., it should have an account with one of the 6 Indian participating banks and should also have UPI ID of the same bank). Thus, the account and the UPI handle of the beneficiary’s should be any of the combinations given below: 

 

Beneficiary Account with  UPI ID Handle 
Axis Bank  @axisbank 
DBS Bank India  @dbs 
ICICI Bank  @icici 
Indian Bank  @indianbank 
Indian Overseas Bank  @iob 
State Bank of India  @sbi 
Do I need to register my mobile number / VPA again before receiving funds?
There is no need to separately register your mobile number or VPA if you are already registered with a Liquid Account on the LiquidPay app. Once you have your Liquid Account activated, you can send and receive funds.
How will the exchange rate be determined?
Exchange rate will be determined based on your amount and currency. The rate is transparent and fully displayed within the LiquidPay app when you are initiating the overseas transfer. You will be able to see the exchange rate upfront and decide whether to confirm the PayNow-UPI transfer or to cancel it.
How much is the remittance fee?
You can easily see the remittance fee in your LiquidPay app after selecting the country you want to remit to and when you have key in the amount. Do follow our LiquidPay Facebook Page to stay tuned on the latest promotions and news.
Are there any other fees associated with each transaction?
No, there are no other fees. You only pay a small transaction fee when you send money to someone. Never when receiving.
Is this mode of payment safe?
This mode of payment is as safe as the existing domestic PayNow transactions 
What if I make a wrong transfer? How will I get my money back?
Please contact LiquidPay’s customer support at contact@liquidpay.com , in order to initiate a refund request. 
What if I receive funds that do not belong to me?
You should not use the funds and should report the receipt of the funds to your bank or wallet-provider. You have the option to lodge a police report and to initiate a return-of-funds process through your bank or wallet-provider. 
Do I need to register before I can send money to India?
You need to have a Liquid Account activated on your LiquidPay app. Please take note that your recipient (payee) should be an account holder of any of the 6 participating Indian banks and is also the UPI ID holder of the same participating Indian banks. 
What do I need to do if my recipient registered UPI ID is with a non-participating Indian bank?
You will not be able to transfer to that UPI ID through this mode of payment currently You may check with your recipient if they have any other UPI ID that is registered with any of the participating banks in India. 
Will my recipient receive any notifications when I send money to their UPI ID?
Your recipient may receive the notifications from their bank provided that the notification feature is part of service agreement when the recipient of the fund registers their UPI ID with their bank. 
What do I need to do if my transaction is successful, but my payee did not receive the money?
You may request your recipient to check with their bank on the status of their UPI ID, as well as the transaction.
What do I need to do if, upon registration, my account authentication through SingPass doesn't work?
Thank you for your interest in LiquidPay.The issue might be due to our onboarding and compliance team processing your registration and conducting mandatory user review.We will reach out to you once the onboarding is completed, or you can contact LiquidPay support for further assistance at contact@liquidpay.com
Why do I get an “Invalid UPI ID” message when trying to send funds to a UPI handle (e.g. @okicici) which is linked to a legitimate bank account with ICICI?

You may have initiated a transaction of a third-party application provider (e.g. @okicici), which is currently not supported by the PayNow-UPI linkage. Supported UPI handles for fund transfers are as per the list below:

Beneficiary Account with Valid UPI ID Handle
Axis Bank xxx@axisbank
DBS Bank India xxx@dbs
ICICI Bank xxx@icici
Indian Bank xxx@indianbank
Indian Overseas Bank xxx@iob
State Bank of India xxx@sbi
What is PayNow VPA?

PayNow Virtual Payment Address (VPA) is a unique identifier that helps you distinguish between your PayNow registration that is linked to your bank account, from those linked to non-financial institutions’ (NFIs) e-wallets. The VPA can be linked to your LiquidPay wallet (i.e. Liquid Account) and other NFIs’ e-wallets, while keeping your existing PayNow registration that is linked to your bank account. This means you can conveniently and seamlessly make PayNow transfers between your VPAs and your preferred banking app

Your VPA with LiquidPay will always have the following format:
+(Country Code)(mobile number)#XNAP.
For example, +6591234567#XNAP

How is it different from existing PayNow?
The NRIC/FIN, Mobile Numbers and UENs used by banks to allow users to link their preferred bank account to PayNow. 

VPAs are used by non-bank financial institutions (NFIs) to allow users to link their e-wallets, such as Liquid Account, to PayNow.

Can I have both PayNow bank account and PayNow e-wallet?
Yes. You can continue to use NRIC/FIN, Mobile Numbers, or UENs with your existing bank account, while simultaneously holding PayNow e-wallets offered by the non-bank financial institutions (NFIs). It is also possible for you to have multiple PayNow e-wallets by the various NFIs, as each e-wallet will be differentiated by an unique VPA depending on the entity offering the e-wallet.
How do I activate PayNow on my Liquid Account?
You can activate your account for PayNow after completing a consumer verification process via MyInfo.
How do I top up via PayNow?
You will be able to top up your Liquid Account using your preferred bank app after activating PayNow on your Liquid Account.
Who should I contact if I’m having issues?
Please contact your bank directly for issues with PayNow on your bank app. Please email contact@liquidpay.com for issues on our LiquidPayapp.
Are there any charges for using PayNow to send money and receive money via Liquid Pay?
There are no charges imposed for using PayNow at the moment, it is free to use.
What can this PayNow-DuitNow linkage enable?

Customers of Banks and Non-Bank Financial Institutions (NFIs) in Singapore and Malaysia participating in the linkage will be able to enjoy a service that is:

  • Convenient (24/7 and leverages existing mobile banking/payments applications),
  • Fast (real-time),
  • Safe (funds are transferred on secure banking rails), and
  • More transparent and cost-effective (competitive FX rates which are displayed upfront)

 

In essence, Singapore’s PayNow and Malaysia’s DuitNow users will be able to send and receive money instantly and securely across the two countries. 

  • A PayNow user of a participating bank/NFI in Singapore will be able to send money to a DuitNow user of a participating bank/NFI in Malaysia, and vice versa.
    • A Singapore PayNow user sending money to Malaysia will need to key in the recipient’s registered DuitNow mobile number.
    • A Malaysia DuitNow user sending money to Singapore will need to key in the recipient’s registered PayNow mobile number or Virtual Payment Address (“VPA”, to Liquid Group users only).
How is this cross-border transfer solution different from what’s already in the market?

With this new PayNow-DuitNow linkage, customers from Malaysia and Singapore are able to send and receive cross-border funds easily and quickly, with just their mobile numbers / VPA, in real time and at competitive FX rates.  There is no need to remember, note down or share the recipient’s bank name, account number and other banking details or wait for 1 to 2 days for the cross-border transfer to be completed.

What is the maximum that I can transfer or receive?

There is currently a daily cap of SGD1,000 or MYR3,000 for funds transfers made between users in Singapore and Malaysia respectively.

There is no limit on the number of transactions that a user can make or receive per day.

Which are the participating members enabled on this PayNow-DuitNow Linkage?

4 Singapore PayNow members currently participating in this linkage for sending and receiving fund transfers are:

  • Liquid Group (“LiquidPay”)
  • Maybank Singapore Limited
  • OCBC
  • United Overseas Bank (“UOB”)

3 Malaysia DuitNow members currently participating in this linkage for sending and receiving fund transfers are:

  • CIMB Bank Berhad
  • Malayan Banking Berhad (“Maybank Malaysia”)
  • Touch ‘n Go Digital (Receipt of funds will be enabled at a later date)

More Singapore PayNow members and Malaysia DuitNow members may be onboarded to offer this service to their customers in the future.

How do I make use of this service to send money to someone in Malaysia?

The process is the same as with the current PayNow process. Instead of keying in a PayNow user mobile number (e.g.: +6512345678) or VPA (e.g.: +6512345678#XNAP), you will need to request your Malaysia recipient (beneficiary) to provide you their registered DuitNow mobile number and key in that mobile number. Example: +60123456789

What is PayNow VPA?

PayNow Virtual Payment Address (VPA) is a unique identifier that helps you distinguish between your PayNow registration that is linked to your bank account, from those linked to non-financial institutions’ (NFIs) e-wallets. The VPA can be linked to your LiquidPay wallet (i.e. Liquid Account) and other NFIs’ e-wallets, while keeping your existing PayNow registration that is linked to your bank account. This means you can conveniently and seamlessly make PayNow transfers between your VPAs and your preferred banking app

Your VPA with LiquidPay will always have the following format:
+(Country Code)(mobile number)#XNAP.
For example, +6591234567#XNAP

Do I need to register my mobile number / VPA again before receiving funds?

There is no need to separately register your mobile number or VPA if you are already registered for PayNow with either Liquid Group, Maybank, OCBC or UOB.

How will the exchange rate be determined?

Exchange rate will be determined by the Singapore PayNow member that you are initiating the transfer from, i.e. Liquid Group, Maybank, OCBC or UOB.  You will be able to see the rate upfront and decide to proceed with the PayNow-DuitNow transfer.

Are there any fees associated with each transaction?

There are currently no additional fees and charges associated with PayNow-DuitNow transfer.

Is this mode of payment safe?

This mode of payment is as safe as the existing domestic PayNow transactions.

What if I make a wrong transfer? How will I get my money back?

To initiate a refund, you will need to contact your PayNow member with which you initiated the transfer.

What if I receive funds that do not belong to me?

You should contact your PayNow member where your account resides for further assistance.

Do I need to register before I can send money to Malaysia?

You do not need to register to send money to Malaysia. You need to have a banking account with Maybank, OCBC, UOB or an account with Liquid Group.  However, your recipient (beneficiary) should be an account holder and holds the mobile number registered for DuitNow with any of the 3 participating Malaysia banks/NFI.

What do I need to do if my recipient registered mobile number is with a non-participating Malaysia bank/NFI?

You will not be able to transfer to that mobile number through this mode of payment currently.  You may check with your recipient if they have any other mobile number that is registered for DuitNow with any of the participating banks/NFI in Malaysia.

14 Will my recipient receive any notifications when I send money to their mobile number?

Your recipient may receive the notifications from his/her bank/NFI provided that the notification feature is part of the service agreement when the recipient registers his/her mobile number with the bank/NFI.

What do I need to do if my transaction is successful, but my payee did not receive the money?

You may request your recipient to check with his/her bank/NFI on the status of the transaction made.

Is this service available every day, 24/7?

Yes, this service is available 24/7, 365 days a year.

I am a customer of Liquid Group / Maybank / OCBC Bank / UOB. When can I start using this fund transfer service to send money to my friends/family members in Malaysia?

Yes, this service is available 24/7, 365 days a year.

Participating Singapore Banks and NFIs

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