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What Is SGQR and How Is It Different From PayNow?

SGQR is Singapore's unified QR code standard that can combine multiple payment schemes — PayNow, bank apps, e-wallets, and more — into a single scannable code, while PayNow is one specific payment scheme (a real-time bank transfer system) that SGQR supports.

Last updated: August 2026

They're related but not the same thing: SGQR is the QR format, PayNow is one of the payment methods that format can carry. This is a common point of confusion for sellers setting up QR-based checkout, so it's worth being precise.

The Core Difference in One Line

  • PayNow = a real-time, bank-to-bank payment system, operated by the Association of Banks in Singapore (ABS) and regulated by the Monetary Authority of Singapore (MAS).
  • SGQR = a unified QR code standard, co-owned by MAS and Singapore's Infocomm Media Development Authority (IMDA), that can encode PayNow (and other payment schemes) into a single scannable label.

Before SGQR existed, a merchant might have needed to display a separate QR code for every bank or wallet they accepted — a cluttered row of codes at the counter. SGQR merges those into one label, so a customer scans a single code and their banking or wallet app figures out which supported scheme to use.

Why This Distinction Matters for Online Sellers

When people say "PayNow QR code," they usually mean an SGQR code that has PayNow encoded into it — which is the most common real-world case for a Singapore online store. Understanding the distinction matters mainly when you're evaluating tools: a "PayNow QR generator" and an "SGQR generator" might be describing the same underlying output, or the SGQR version might additionally support other schemes beyond PayNow within the same code.

Static vs. Dynamic, and Where PayNow Fits

Both SGQR and PayNow QR codes can be either static (one fixed code, reused for every payment, customer types in the amount) or dynamic (a fresh code generated per transaction, with the amount and a reference number already built in). For a deeper look at that distinction and why it matters for order reconciliation and fraud prevention, see our companion piece, What Is Dynamic PayNow QR Checkout?.

Frequently Asked Questions

Do I need SGQR specifically, or just PayNow, to accept payments on my online store?

For most online sellers, what matters practically is accepting PayNow payments via QR — whether the underlying code is described as "SGQR" or "PayNow QR" in a given tool's interface, the buyer experience is the same: scan, confirm amount, pay.

Who operates PayNow and SGQR?

PayNow is run by the Association of Banks in Singapore; SGQR is co-owned by the Monetary Authority of Singapore and the Infocomm Media Development Authority. Both are official, regulated national initiatives — not products of any single private company.

Can an SGQR code support payment methods other than PayNow?

Yes — that's the point of SGQR as a unified standard. A single SGQR label can combine PayNow with other bank or e-wallet payment schemes, though for a typical small online seller, PayNow is usually the primary (and often only) scheme in practical use.

Is a PayNow QR code the same as a personal PayNow number?

No. A PayNow proxy (mobile number, NRIC/FIN, or UEN) identifies who gets paid; a PayNow QR code is a way to transmit that proxy — plus, in dynamic mode, an amount and reference — without the customer having to type anything in manually.

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