India, Singapore to link UPI, PayNow for faster payments

The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) have announced a project to link their fast payment systems — Unified Payments Interface (UPI) and PayNow. The linkage is targeted for operationalisation by July 2022. The UPI-PayNow linkage will enable users of each of the two fast payment systems to make instant, low-cost fund transfers on a reciprocal […]