PayNow users in Singapore and DuitNow users in Malaysia can now send instant P2P cross-border fund transfers using just their mobile phones. The launch of the real-time payment systems linkage between Singapore's PayNow and Malaysia's DuitNow was jointly announced by Monetary Authority of Singapore (MAS) managing director Ravi Menon and Bank Negara Malaysia (BNM) governor Abdul Rasheed Ghaffour.
PayNow users in Singapore and DuitNow users in Malaysia can now send instant P2P cross-border fund transfers using just their mobile phones . The launch of the real-time payment systems linkage between Singapore 's PayNow and Malaysia 's DuitNow was jointly announced by Monetary Authority of Singapore (MAS) managing director Ravi Menon and Bank Negara Malaysia (BNM) governor Abdul Rasheed Ghaffour.
The two marked the launch by executing live cross-border fund transfers to each other at the 2023 Singapore FinTech Festival on Friday (17 November). "The PayNow-DuitNow linkage is the culmination of a shared aspiration by Singapore and Malaysia to facilitate cross-border payments between the two countries. This linkage represents another step towards ASEAN’s vision for regional payments interconnectivity," said Rav
Paynow Duitnow Singapore Malaysia Cross-Border Payment Mobile Phones Real-Time Payment Systems Monetary Authority Of Singapore Bank Negara Malaysia ASEAN Regional Payments Interconnectivity
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