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Is my company eligible to accept payments via CardUp? What payment methods can I accept?

The CardUp Team
Updated

 

Summary

  • Collecting Payment via
    • Method 1: Credit Card
      • Processing fees & Payout time
      • Criteria for Accepting payments based on card types
    • Method 2: PayNow QR
      • Payout time
      • Criteria for Accepting PayNow QR

 

CardUp offers 2 payment methods for payment collection - Credit Card and/or PayNow QR.

 

Method 1: Credit card

Accept both domestic (U.P. 2.6% fee per transaction*) and international (U.P. 3.3% fee per transaction*) credit card payments from all customers now. Receive a direct payout (minus the fee applicable) in your bank account within 3 business days between 5pm to 8pm.

  • *A minimum transaction fee of S$3.40 applies to each payment collection below S$130 (regardless of the credit card types and origins)
  • **Payments for prepaid invoices refer to payments for goods or services that are not already delivered.

 

Criteria for Accepting Payments Based on Card Types

To accept Visa, Mastercard and UnionPay payments

  1. Your company must be registered in Singapore. For sole proprietorships, the business must be at least one year old.
  2. Your company is not operating under these industries/categories:
    • Investment & credit services,
    • Money and legal services,
    • Virtual currencies or wallet providers,
    • Gambling services,
    • Computer technical support and IT help desks;
    • Telemarketing or any other phone service provider,
    • Travel reservation services, airline ticket reservation or any other pre-paid travel services and
    • E-Commerce providers. Read more
  3. Your company owns a corporate bank account to receive payment payouts.

 

To accept Amex payments:

  1. Your company must be registered in Singapore. For sole proprietorships, the business must be at least one year old.
  2. Your company must owns a corporate bank account to receive payment payouts.
  3. Your company must operate within the Rent and/or Education industry categories only.
  4. Only personal American Express cards and The American Express® Singapore Airlines Business Card are supported.
     
     

 

Method 2: PayNow QR

Accept PayNow payments from all domestic customers now if:

  1. Your company is registered in Singapore. For sole proprietorships, the business must be at least one year old.
  2. Each payment collection is not more than S$200,000.

Receive a direct payout in your bank account within 1 business day*. 

  • *For successful PayNow payments captured on a business day before 3 pm, a direct payout will be made to your corporate bank account within the same business day between 5 pm to 8 pm.

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