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UPI-PayNow Linkage Singapore's PayNow and India's UPI have been formally merged. The integration of UPI and PayNow is a significant milestone that will enable frictionless cross-border transactions between the two nations. The first nation with whom cross-border Person to Person (P2P) payment services have been launched in Singapore. The UPI-PayNow collaboration is the first of its kind in the world to include cloud-based infrastructure and involvement from non-bank financial companies. What are PayNow and UPI? A single smartphone application may instantly and quickly transfer money between two bank accounts using the UPI, or Unified Payments Interface, real-time payment system. A…
27 February, 2023
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