Proposal for Using PayNow as Payment Method for Child Development Account Transactions

Mr Don Wee asked the Minister for Social and Family Development whether the Ministry will consider incorporating PayNow as a payment method in addition to the current NETS-only method when parents make payments from the Child Development Account to approved institutions.

The Ministry of Social and Family Development will consider alternative payment modes as part of our regular review of the Child Development Account (CDA) scheme. Such payment modes will need to be convenient for parents and trustees, while providing adequate safeguards against erroneous or unauthorised usage, since the CDA monies are only to be used for specified expenditures.