Singapore is making strides towards being cash-free with the introduction of PayNow, much to the delight of the minimalists among us. And in typical Singaporean fashion, PayNow was quickly adopted by many purveyors of our national pastime to smoothen the hawker center paying experience.
What is PayNow?
Launched in 2017, PayNow offers peer-to-peer funds transfer services for retail and corporate customers of participating banks and Non-Bank Financial Institutions (NFIs) in Singapore.
Aside from paying for food, several organizations have also taken it upon themselves to ensure that PayNow does not become a one-trick pony by supporting the payment method on their platform. Here are a couple of the lesser-known uses that we’ve found:
Seeing the doctor
The volatile crypto markets may sometimes cause sudden spikes in blood pressure — to make sure that your body is performing as intended, it’s advisable to go for regular check-ups. To further reduce your stress, payment options at the hospitals have expanded to include PayNow, so you never have to worry if you leave your wallet at home.
Learning to drive
Your crypto trading has yielded some good results and you’re looking to buy a car. Problem is, you don’t know how to drive. Fear not, because aspiring drivers looking to earn their driving license can rejoice in knowing that funding your lessons will be relatively easy. Bukit Batok Driving Centre, for one accepts PayNow as an option to top-up the funds in your account — making it extra easy for you to prepare for the booking frenzy.
Getting a flight
So your dollar-cost-averaging strategy using Recurring Buys has been going pretty well, and you decide to treat yourself to a vacation. Your next holiday destination is in sight, and the only thing standing between you and the smell of the salty air of Kuta beach is a plane ticket. To help you kick off your next adventure, some airlines, including Singapore’s very own Scoot, offer PayNow as a method of payment.
Receiving your GST Voucher
Nothing gets Singaporeans going more than receiving money — it’s undoubtedly the number 1 item on anyone’s birthday wish list. Whether you decide to use the money for a new pair of Air Jordans or add it to your existing crypto portfolio, the annual GST voucher sent straight to your NRIC-linked PayNow account will definitely help you achieve both of those more quickly.
Buying cryptocurrencies
If this comes as a surprise to you, you must not be aware of where you’re reading this article. That’s right, we’ve added PayNow to our list of payment methods — it’s simple, quick and is becoming the most popular payment method on Coinhako.
With PayNow, you can start buying cryptocurrency in Singapore — all you have to do is scan the QR code to deposit money into your Coinhako account and you’re all set.
👉Learn how to use PayNow on Coinhako here
Our other payment options
With PayNow, you can fund your account within 60 seconds by scanning the QR code to deposit money into your Coinhako account. In addition to PayNow, Coinhako also accepts FAST transfers and credit / debit card. Don't miss out on the opportunity to access the cryptocurrency market in Singapore.
Disclaimer: All writers’ opinions are their own and do not constitute financial advice. As a company, we do our best to provide information that is accurate and valuable. The contents of this blog post are intended for educational purposes only. Individuals are advised to perform due diligence before purchasing any cryptocurrencies as these assets are subject to high volatility, and understand the risks associated with trading cryptocurrencies.
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