paynow

A day after a real-time payments system linkage was established between India and Singapore using the UPI platform, State Bank of India on Wednesday announced a partnership with PayNow, the online payment system of the city state, for cross-border payments.The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will allow fund transfers from India to Singapore through registered mobile numbers, and from Singapore to India using the UPI ID, the bank said in a…

As India and Singapore on Tuesday linked their respective online payments systems for seamless cross-border transactions between the two countries, Singaporean High Commissioner to India Simon Wong Wie Kuen on Tuesday said this collaboration would take bilateral relations to greater heights and his country looks forward to continuing to be part of India's digital transformation journey.Unified Payments Interface (UPI) of India and PayNow of Singapore have been linked earlier today at a virtual event, which was attended by…

Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash, as Unified Payments Interface (UPI) is increasingly becoming the most preferred payment mechanism in the country.Modi after the launch of the cross-border connectivity between the UPI and PayNow of Singapore said about 74 billion transactions amounting to more than Rs. 1,26,00,000 crore, which is approximately SGD 2 trillion, was done through UPI in 2022."Many experts are estimating that very soon India's digital …

The Unified Payments Interface (UPI), the real-time bank-to-bank money transfer system developed and maintained by the National Payments Corporation of India (NPCI) gained support for integration with its counterpart in Singapore, PayNow. Customers will be able to quickly send funds to and from the two countries at cheaper rates. Both UPI and PayNow offer similar features, including the ability to pay other users or request fund using only the sender or recipient's mobile phone number or a virtual…

India and Singapore have linked their digital payments systems, UPI and PayNow, to enable instant and low-cost fund transfers in a major push to disrupt the cross-border transactions between the two nations that amounts to over $1 billion each year. The linkage between the two systems went live Tuesday, the two nations’ central banks said at a press conference. Eight banks including DBS, Liquid Group, Axis Bank and State Bank of India from Singapore and India are currently participating in the…

Prime Minister Narendra Modi and Singaporean counterpart Lee Hsien Loong will witness the launch and linkage of cross-border connectivity between the Unified Payments Interface (UPI) of India and PayNow of Singapore on Tuesday. The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances. The launch is scheduled at 11 am on Tuesday and is to be held via video conferencing. Shaktikanta Das, Governor, Reserve…