Singapore-India money transfers to become easier, UPI coming soon confirms Indian Envoy

Nov 12, 2022

Singapore, November 11 (ANI): India and Singapore have completed technical preparations to link their fast payment systems (Universal Payment Interface) UPI and PayNow to enable fund transfers between the two countries at low cost, a move which is aimed at benefitting migrant workers. “Singapore wants to connect its PayNow with UPI and that project will finish sometime in the next few months and when that happens anybody sitting in Singapore will be able to send money to their family members in India,” said India's High Commissioner in Singapore P Kumaran while addressing a delegation of the Indian media on a visit to Cambodia and Singapore just ahead of the ASEAN-India Commemorative Summit 2022. Prime Minister Narendra Modi is likely to announce the project once it is formalised, the Envoy told ANI. 2022 marks 30 years of ASEAN-India dialogue relations, being celebrated as the 'Friendship year' by both sides.