Cannot. EMB payment is to be paid to the student only via paynow and the student's NRIC must be linked to paynow. Hence, the child needs to have a bank savings account.
For POSB Eligibility to open a bank account
Age: Parent - 18 years and above
Child - below 16 years
ref: https://www.posb.com.sg/personal/deposits/savings-accounts/my-account-kids