The “real-time payment linkage” between India’s Unified Payments Interface and Singapore’s PayNow is an initiative to push a UPI-based payment ecosystem. Photo: Twitter/@MAS_sg The story so far: On February 21, India’s Unified Payments Interface (UPI) and Singapore’s PayNow were officially connected to allow for “real-time payment linkage”. Singapore is the first country with which cross-border […]
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Cashless transactions: A customer paying through UPI to avoid cash transactions at a medical store in Visakhapatnam | Photo Credit: K.R. Deepak On Tuesday, the cross-border connectivity between India’s Unified Payments Interface (UPI) and Singapore’s PayNow was launched. UPI is a popular mobile payment service which allows instant credit transfer from one bank account to […]
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Prime Minister Narendra Modi and his Singapore counterpart Lee Hsien Loong witness the launch of cross-border connectivity between the UPI of India and PayNow of Singapore via video conferencing. | Photo Credit: ANI India’s Unified Payments Interface — better known as UPI — and Singapore’s PayNow were officially connected on Tuesday, allow for a “real-time payment linkage”. […]
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Reserve Bank of India governor Shaktikanta Das, at a press conference at the RBI head office, in Mumbai, on December 7, 2022. | Photo Credit: AP Asserting that the newly-introduced Central bank digital currency (CBDC) does not leave any trail with a bank, RBI governor Shaktikanta Das on December 7 said there is no need […]
Continue ReadingRBI governor Shaktikanta Das announced an additional function for Unified Payments Interface (UPI) platforms that would allow multiple debits. Mr. Das was effusive in his praise for the digital payment system in his address at the conclusion of the three-day Monetary Policy Committee’s (MPC) meeting. “UPI has emerged as the best payment system anywhere in […]
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