Modi, Singapore PM to witness launch of connectivity between UPI & PayNow

Prime Minister Narendra Modi and Prime Minister of Singapore Lee Hsien Loong on Tuesday will witness the launch of cross-border connectivity between the Unified Payments Interface (UPI) of India and PayNow of Singapore at 11 AM (IST) via video conferencing.

The launch of the real time payment systems linkage between the two nations will be done by the Reserve Bank of India (RBI) Governor Shaktikanta Das and Ravi Menon, Managing Director, Monetary Authority of Singapore (MAS), the Ministry of External Affairs (MEA) said here on Monday.

India has emerged as one of the fastest-growing ecosystems for fintech innovation. Modi’s visionary leadership has been instrumental in driving globalisation of India’s best-in-class digital payment infrastructure, the MEA said.