SMEs in Singapore urged to use PayNow-UPI scheme for business dealings with India

The Singapore Indian Chamber of Commerce and Industry (SICCI) has urged Small and Medium Enterprises (SMEs) in the city-state to use the PayNow-UPI linkage for business dealings with India for ease of payment.

SICCI Chairman Neil Parekh, while welcoming the launch of the linkage of India’s Unified Payments Interface (UPI) and Singapore’s PayNow on Tuesday, also emphasised that the SMEs stand to benefit from the launch of the cross-border real-time digital payment system.

“The launch is timely as both countries have resumed normalcy, and Singapore continues to see a steady and high influx of Indian entrepreneurs coming to Singapore for business delegation meetings with their counterparts and our Chamber,” Parekh said.