Context
India and Singapore has announced to link their payment apps, namely UPI and PayNow which will allow instantaneous and low-cost money transfers between the two countries.
About
About the move:
Singapore has now become the first country with which cross-border Person to Person (P2P) payment facilities have been launched. |
Significance:
FINTECH or financial technology refers to the technological innovation in the design and delivery of financial services and products. |
Unified Payments Interface (UPI):
PayNow
|
Authorities concerned:
Verifying, please be patient.