Payment onboarding
This guide describes the differences between using Stripe and direct bank PayNow to collect payments via PaySG.
What payment methods can I offer when using PaySG?
The payment methods you can offer depend on whether you're using Stripe, direct bank integration for PayNow, or both.
You can offer credit/debit card, e-wallet and PayNow options through Stripe. You can offer PayNow through direct bank integration.
The development/integration effort to include Stripe and/or direct bank PayNow will be done by PaySG. Your team will only need to integrate with PaySG.
What's the difference between using Stripe and direct bank integration for PaySG?
| Item | Stripe | Direct bank integration |
|---|---|---|
Payment methods |
|
|
Payout time | Typically 3 business days after payment | Real-time |
*Fees (*PaySG does not charge fees to use our platform. You only need to account for Stripe/banks' transaction fees) | Bulk tender rates applicable to government agencies under bulk tender GVT-16020 | Bulk tender rates applicable to government agencies under bulk tender GVT- 19006 |
Set-up time | Assuming paperwork has been completed, launching with Stripe usually allows a shorter lead time as there's no additional engineering effort required on PaySG's end. | Depends on whether PaySG has integrated with your bank before. Refer to our timeline guide for more info. |
How do I proceed with Stripe?
Refer to our section on Stripe onboarding to find out more.
How do I proceed with direct bank integration for PayNow?
Refer to our section on bank onboarding to find out more.
Should my team proceed with Stripe or direct bank integration?
This depends on your use case and its requirements. Generally, proceeding with Stripe has a shorter lead time given the lack of additional engineering effort required on PaySG's end.
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