29/04/2026
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The nickname feature for PayNow retail users will be discontinued on Jun 6 to strengthen protection against impersonation scams, the Association of Banks in Singapore (ABS) said on Wednesday (Apr 29).
All display names will be automatically updated to reflect "selected letters of a retail payee's registered account name with their financial institution" during PayNow transfers to safeguard customer privacy.
"This approach balances the use of real names as a safeguard against account impersonation, while being mindful of privacy considerations," said ABS.
Full story: https://cna.asia/3QPtio4