Fee guide — Singapore 2026
Accept PayNow without paying transaction fees
Is it possible to accept PayNow with no percentage fee?
Yes — because PayNow itself is free. The Singapore banking system built PayNow as a zero-fee transfer method. When your customer pays you by PayNow, no fee moves between the banks. The money goes from their account to yours, in full.
The fees you see from gateways and POS providers are their own charges for sitting in the middle. A payment gateway processes your PayNow payment for you, takes their cut, and settles the rest to your account. That is where the 0.4% to 1.3% comes from.
If you avoid putting a gateway between you and your customer, you avoid the fee. DoubleAM generates the QR code and card — your customer pays directly into your bank account. We are never in the middle. We charge a flat fee for the software, not a percentage of what you receive.
Why fees exist
Where the percentage fee comes from
PayNow fees from payment providers exist because those providers put themselves in the transaction flow. When you sign up with a payment gateway and display their PayNow QR, the money route looks like this:
Your customer scans the gateway's QR
Money goes into the gateway's account
Gateway deducts their fee
Gateway settles the remainder to your bank (T+1 or later)
The fee is what the gateway charges for steps 2–4. Without a gateway, those steps do not exist. The QR points directly at your bank account and money arrives instantly.
How to avoid fees
Use software, not a gateway
A PayNow QR code is just a QR code. It encodes your bank identifier — your UEN or mobile number — and optionally an amount and reference. Any software that can generate that QR code correctly lets your customers pay you directly, with no intermediary.
DoubleAM is that software. We generate the QR and the branded card. We charge a flat fee for the service. We are never in the transaction.
Full comparison
PayNow providers in Singapore — 2026
| Provider | Type | PayNow fee | Condition | Settlement | Hardware |
|---|---|---|---|---|---|
| EPOS | POS terminal | 0% until Jul 2026, then 0.20% | ANEXT Bank account required | ANEXT Bank | Yes |
| Qashier | POS system | ~0.8% + GST | POS terminal required | T+1 via Qashier | Yes |
| HitPay | Payment gateway | 0.4%–0.65% + $0.30 | Account required | HitPay wallet → your bank | Optional |
| Stripe | Global payment gateway | 1.3% per PayNow transaction | Gateway account + API integration | Stripe balance → your bank (T+2+) | None |
| DoubleAM | PayNow QR software | Flat fee — no percentage | Free tools: no sign-up. API: approved. | Directly into your own bank — instant | None |
Rates and conditions as understood at time of writing. Always verify directly with each provider. EPOS 0% rate ends July 2026 per ANEXT Bank promotional terms.
Who this is for
The business that just wants PayNow, not a payment stack
You are a freelancer, a small retailer, a home business, a service provider. You already have a bank account. PayNow is registered to your UEN or mobile. You want customers to be able to pay you with no wrong-account mistakes and no overpayment disputes. You do not want to sign up for a gateway, open a new bank account, buy hardware, or give up 0.4% to 1.3% of every payment.
That is the customer DoubleAM is built for. Free tools, no sign-up. If you need integration or API access, flat fee — no percentage.
Detailed comparisons
Compare DoubleAM to each provider
DoubleAM vs HitPay
Full gateway vs PayNow-only software. Fee structure, settlement, and wallet.
DoubleAM vs Qashier
POS system with hardware vs no-terminal PayNow software.
DoubleAM vs Stripe
Global gateway at 1.3% vs flat-fee local PayNow software.
DoubleAM vs EPOS
ANEXT-backed POS terminal vs no-hardware, no-new-bank PayNow.
Ready to accept PayNow without the fee?
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