How will this change impact Corporates?

If your business is transferring funds to a retail Payee, upon entering the Payee’s PayNow proxy to make payment, your business will only see selected letters of the Payee’s name as their updated PayNow name. If your business is transferring funds to a corporate Payee, there is no change and your business will see the full registered account name of the Payee’s business as per today.