India pushing to internationalise its popular real-time payment system, will be linked to PayNow this year
The proposed linkage will enable convenient, low-cost fund transfers between bank accounts in India and Singapore. PHOTO: ST FILE
Debarshi Dasgupta
India Correspondent
PUBLISHED
47 MINS AGO
NEW DELHI - During his visit to India last month, Singapore Foreign Minister Vivian Balakrishnan highlighted the digital economy as an area where ties could grow between the two countries.
That ambition will gain traction with the proposed linkage this year between Singapore's PayNow and India's Unified Payments Interface(UPI) real-time payment systems, which will enable convenient, low-cost fund transfers directly between bank accounts in both countries.