A growing number of people are using India’s UPI due to its simplicity and quick payment processing. On Tuesday, PayNow in Singapore and the Unified Payments Interface (UPI) in India began transnational communication.
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Singapore’s PM Hsin Loong and Indian Prime Minister Narendra Modi participated in a video conference to see the launch.
The facility was introduced by Ravi Menon, Managing Director of the Monetary Authority of Singapore, and Shaktikanta Das, Governor of the Reserve Bank of India (RBI) (MAS).
Prime Minister Narendra Modi stated that the opening of the UPI-PayNow connectivity (between Singapore and India), which had been widely anticipated, was a gift for the people of both nations. I congratulate the citizens of Singapore and India on this.
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