Answer · Updated 2026-05-23 · Market: SG
NETS QR or PayNow QR — which should a Singapore restaurant accept?
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.
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