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personal-finance
UPI-PayNow link: How it will help
Sep 15, 01:09

India's Unified Payments Interface (UPI) will be linked to Singapore's PayNow. This means customers will be able to make quick cross-border payments between the two countries. Funds transfer between the platforms will be just like peer-to-peer (P2P) payments within UPI. Thus, users need not on-board other payment systems. The link is meant to drive faster, cheaper and more transparent cross-border payments. PayNow is Singapore's fast payment system enabling P2P fund transfers and is UPI's equivalent. The link will start working from July 2022 and is expected to further drive trade, travel and remittance flows between the two countries.​

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