OCBC ties up with Republic Polytechnic for PayNow partnership

This marks the first PayNow tie-up with an educational institution.

OCBC Bank and Republic Polytechnic’s (RP) have jointly launched PayNow, enabling students to pay for school fees by scanning a quick-response (QR) code on the student portal with their mobile phones.

RP is the first educational institution to adopt funds transfer service by leveraging the bank’s Application Programming Interface (API). Building on OCBC Bank’s previous experiences with the CPF board, the same API enables students and their parents to pay from bank accounts with any of the nine PayNow participating banks to RP.

“We are pleased to be one of the pioneer agencies to adopt the use of PayNow Corporate as an e-payments solution,” said Ms. Geraldine Ang, chief financial officer of Republic Polytechnic. “It provides our stakeholders and corporate partners with a convenient and secure platform to transact instantaneously with the institution, as part of our digitalisation effort and push towards becoming a Smart Nation.”

Since its launch in 2017, PayNow has accummulated over 1.4 million registrations with nearly $900m transferred through the system. In August 2018, PayNow Corporate was launched to enable businesses to pay and receive Singapore Dollar funds instantaneously with the linking of the Unique Entity Number (UEN) to their Singapore bank account. 

Moving forward, OCBC Bank and RP will explore extending the use of PayNow for the collection of other fees in the future such as hostel fees, overseas trips and facility bookings.