What is PayNOW?
PayNOW is a service offered by 9 participating banks in Singapore that allows individual/business to send and receive Singapore Dollar funds instantly from one bank to another using the payee’s designated mobile number or NRIC / FIN or UEN number instead of the payee’s bank account number.
WINSPIRE SOLUTIONS provides the PayNOW Solution in collaboration with DBS Bank.
This solution uses Dynamic QR Code and automates the payment collection process from the bank to Microsoft Dynamics NAV / 365 Business Central.
Why PayNOW?
- Provides flexibility to collect payments based on consolidated credit for multiple invoices.
- Allows instant settlement and receipt of funds.
- Reduces risks and handling cost of cash and cheques.
- Minimizes manual work involved in payment journal creation and bank reconciliation.
- Daily reports provided by the bank via Excel / API to Microsoft Dynamics NAV / 365 Business. Central which reconciles the payments received via PAYNOW and the credit made to your company’s bank account.
- Allows the user to generate QR code for multiple invoices, copy and send / email the QR code to the customer to scan and pay.
- Allows the sales/delivery person to adjust the collection amount, if required.
Why PayNOW?
- Provides flexibility to collect payments based on consolidated credit for multiple invoices.
- Allows instant settlement and receipt of funds.
- Reduces risks and handling cost of cash and cheques.
- Minimizes manual work involved in payment journal creation and bank reconciliation.
- Daily reports provided by the bank via Excel / API to Microsoft Dynamics NAV / 365 Business. Central which reconciles the payments received via PAYNOW and the credit made to your company’s bank account.
- Allows the user to generate QR code for multiple invoices, copy and send / email the QR code to the customer to scan and pay.
- Allows the sales/delivery person to adjust the collection amount, if required.
How PayNOW & InvoiceNOW work together?
The PayNOW and InvoiceNOW (PEPPOL e-Invoicing) Solutions are implemented with seamless integration to the existing Microsoft Dynamics NAV / Microsoft D365 Business Central Solution of your company. These solutions digitally transform and automate the payment collection and invoicing business processes to the finance and operations in the back office, further improving customer experience, empowering the workforce to use advanced digital technologies, raising productivity and efficiency, and enabling the company to achieve business growth and attain industry leadership in an increasingly disruptive new normal.
PayNOW and InvoiceNOW (PEPPOL e-Invoicing) Solutions can be implemented On-Premise or On Cloud for existing Microsoft Dynamics NAV 2013 / 2015 / 2016 / 2017 / 2018 and 365 Business Central.
How PayNOW & InvoiceNOW work together?
The PayNOW and InvoiceNOW (PEPPOL e-Invoicing) Solutions are implemented with seamless integration to the existing Microsoft Dynamics NAV / Microsoft D365 Business Central Solution of your company. These solutions digitally transform and automate the payment collection and invoicing business processes to the finance and operations in the back office, further improving customer experience, empowering the workforce to use advanced digital technologies, raising productivity and efficiency, and enabling the company to achieve business growth and attain industry leadership in an increasingly disruptive new normal.
PayNOW and InvoiceNOW (PEPPOL e-Invoicing) Solutions can be implemented On-Premise or On Cloud for existing Microsoft Dynamics NAV 2013 / 2015 / 2016 / 2017 / 2018 and 365 Business Central.
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