PayNow to display registered account details instead of nicknames from 6 June
In a move to strengthen defences against scams, PayNow will discontinue its nickname feature for retail customers starting 6 June.
This change aims to make it harder for scammers to impersonate legitimate entities and trick users into making fraudulent transfers.
PayNow names to reflect registered account details
From June 2026, PayNow will automatically update all display names to show the payee’s registered account name, rather than the previously allowed nickname.
When making PayNow transfers, users will see the recipient’s name as it appears on their bank account, with only selected letters visible for privacy.
Source: UOB
Since PayNow’s launch in 2017, the nickname feature has allowed customers to display a preferred name instead of their registered account name.
However, amid a rise in scam cases, the Association of Banks in Singapore (ABS) said the change is necessary to better safeguard users.
Scammers exploit nickname feature to deceive victims
Authorities noted that scammers have been exploiting the nickname feature by using names of established entities or trusted individuals, making it easier to deceive victims into transferring money to fraudulent accounts.
“With this enhanced security measure, scammers will no longer be able to masquerade as legitimate entities or persons, significantly reducing their ability to deceive unsuspecting users through PayNow,” ABS said.
Source: NETS
No action is required from customers, as the update will be implemented automatically. All other PayNow functions, including sending and receiving money, will remain unchanged.
Businesses using PayNow via their Unique Entity Number (UEN) will also not be able to alter their registered account names.
Move aims to boost user confidence
ABS director Ong-Ang Ai Boon said safeguarding consumers against scams remains a top priority.
“While PayNow has made everyday payments more convenient, it is equally important that users can transact with confidence,” she said.
“This enhancement will help ensure that PayNow users continue to enjoy a secure and trusted payments experience.”
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Featured image adapted from UOB.
