Review of PayNow Bank Account Linking Procedures for Recycled Mobile Numbers

Ms Joan Pereira asked the Prime Minister and Minister for Finance what is the Government's assessment as to whether enhancements to the process for linking and delinking recycled mobile phone numbers to bank accounts for PayNow purposes are needed.

Mr Gan Kim Yong (for the Prime Minister): Please refer to the reply given in this House on 16 October 2024. [Please refer to "Wrongful PayNow Transfers to Phone Numbers Belonging to Previous Subscriber", Official Report, 16 October 2024, Vol 95, Issue 144, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.]

The Monetary Authority of Singapore's assessment remains the same. Current processes to change the registered telephone number for PayNow are sufficient.