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UPI Pay Linkages

UPI Pay Linkages:

India’s Unified Payments Interface (UPI) and Singapore’s PayNow have been integrated to enable faster Remittances between the two countries.

  • Singapore has become the first country with which cross-border Person to Person (P2P) payment facilities have been launched.
  • The UPI-PayNow partnership marks the world’s first to feature cloud-based infrastructure and participation by non-bank financial institutions.
  • Linkage:
    • With this facility, funds held in bank accounts or e-wallets can be transferred to /from India using just the UPI ID, mobile number, or VPA.
    • This facility will eliminate the need for entering the details of beneficiaries, such as bank account numbers, bank codes etc.


  • UPI is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer.
  • VPA is a unique identifier assigned to an individual to facilitate the transfer of funds through a digital payments system.
  • It is a user-created identifier that can be used instead of providing sensitive bank account details while making payments.
  • It eliminates the risk of sharing bank account details by the remitter. UPI supports both Person-to-Person (P2P) and Person-to-Merchant (P2M) payments and it also enables a user to send or receive money.


  • PayNow is a fast payment system in Singapore. It enables peer-to-peer funds transfer service, available to retail customers through participating banks and Non-Bank Financial Institutions (NFIs) in Singapore.
  • It allows users to send and receive instant funds from one bank or e-wallet account to another in Singapore by using just their mobile number, Singapore National Registration Identity Card (NRIC)/Foreign Identification Number (FIN), or VPA.