🇸🇬 Singapore · Answer · Updated May 23, 2026
NETS QR or PayNow QR — which should a Singapore restaurant accept?
Direct answer · updated
In 2026 the answer is both, and you do not have to choose. NETS QR clears on the NETS rail and PayNow QR clears on FAST, each at roughly 0.5–0.8 percent with same-day or T+1 settlement. LOOP prints one SGQR that satisfies both, so guests scan with any app and cashiers never pick a rail.
Both. NETS QR clears via the NETS interbank rail with ~0.5-0.8% MDR and same-day settlement; PayNow QR clears via FAST with same-day or T+1 settlement and 0.5-0.8% fees. A modern POS like LOOP generates a single SGQR that satisfies both rails, so customers scan with any bank or wallet app and the cashier never picks a rail.
How it works with LOOP
LOOP presents both rails from the same ticket, so the counter never chooses. NETS QR carries older bank and NETS-first behaviour while PayNow covers the broad bank-app base, and both reconcile automatically against the order. The settlement report separates them, which is how an operator sees the true blended cost of acceptance rather than an average quoted by a terminal provider.
Key facts
- SGQR unifies both rails on one QR
- NETS: same-day settlement
- PayNow: same-day or T+1
- Both: 0.5-0.8% fees
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