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InvoiceNow Transaction Bonus

Receive $200 when you send 10 E-Invoices within a year!

IMDA has announced the Transact Grants (ITB) of up to $70,000 to encourage enterprises to come onboard InvoiceNow and start transacting e-invoices with their customers and suppliers on the network.

WHAT IS THE INVOICENOW TRANSACTION BONUS?
A $200 bonus for all businesses on the network for sending 10 e-invoices on InvoiceNow.

IS MY BUSINESS ELIGIBLE?
Businesses who have valid and active business UENs and send a total of 10 e-invoices on the network within 12 months from the first e-invoice will receive a bonus payout of $200.*
• Send first e-invoice: receive $50;
• Send remaining 9 e-invoices: receive another $150

*To qualify for ITB, your business must be: (i) a Singapore registered company, (ii) send e-invoices within 12 months of the first e-invoice sent between 1 November 2022 and 31 October 2024 and (iii) must not be an company under the list of excluded entity types.

Please see below for FAQs.

What is InvoiceNow?

How does InvoiceNow help your business get paid faster?

Clean data

Minimised manual intervention with structured data format reduces human error.

Automated processing

Straight-through processing and automatic discovery of anomalies and fraud using AI on network data secured through encryption.

Financing and factoring

E-invoicing enables financing options on your invoices so that business suppliers

can get cash advances with ease.

Automated process to e-payment

Data accuracy is assured when it originates upstream of the payment process thus, reducing extra effort to check before payment instructions are given.

Fast billing

Quicker generation of e-invoice and no latency due to postage or courier delays supplier’s end.