🇸🇬 Singapore · Answer · Updated 23 May 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 POS PayNow, NETS QR and SGQR integrations are on roadmap; use the existing payment terminal and record its confirmed payments.
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. LOOP POS direct SGQR, PayNow and NETS QR integration is on roadmap; retain the existing payment terminal and record confirmed payments.
How it works with LOOP
Direct PayNow, NETS QR and SGQR integration in LOOP POS is on roadmap, not live. Keep the existing payment terminal or participating bank app and confirm the payment with that provider before recording its payment type against the order in LOOP POS. At shift close, compare the provider report with recorded tickets, investigate missing references and keep refunds linked to the original sale. Merchant fees and settlement timing come from the provider agreement, not a universal LOOP POS promise.
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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