Permitting Some Registered PayNow Retail Users to Adopt Nicknames as Display Names

129 Ms Joan Pereira asked the Prime Minister and Minister for Finance whether the Government will consider working with the Association of Banks in Singapore to permit registered PayNow retail users to adopt nicknames for their display names on a case-by-case basis, especially where such users have names that may be easily guessed by scammers from the automated display names generated under PayNow’s new policy.

Mr Gan Kim Yong (for the Prime Minister): The Association of Banks in Singapore (ABS) discontinued the PayNow nickname feature as scammers had been exploiting the use of nicknames to impersonate legitimate entities and trusted individuals. Scammers would change the nicknames of accounts that they had obtained control over, to deceive victims to transfer funds into these accounts.

Allowing nicknames on a case-by-case basis undermines the purpose of the initiative, as PayNow participating institutions are unable to assess the legitimacy of such requests and may inadvertently approve nicknames that could later be used for impersonation scams.

ABS adopted the current name display format, following industry and consumer consultations, with the aim of providing payers sufficient information to transact with confidence while preserving a reasonable level of privacy for payees.

Monetary Authority of Singapore and ABS will continue to review feedback received for future improvements.