The National Payments Corporation of India (NPCI) on January 11, 2024, notified regarding the Major UPI Apps Enabled to Receive Remittances from Singapore via UPI-PayNow Linkage.
The cross-border linkage between Unified Payments Interface (UPI) & PayNow is enabling Indians to receive instant, secure, and cost-effective remittances from the Singapore-based Indian diaspora directly into their bank accounts. This facility can be accessed by users of BHIM, PhonePe, and Paytm apps.
The following are the key benefits of receiving funds via UPI-PayNow:
• Instant: Funds are transferred in real-time, reaching the recipient's bank account within seconds.
• Secure: The linkage utilizes robust security protocols to ensure safe and reliable transactions.
• Cost-effective: Transaction fees are competitive, making the service ideal for small and frequent remittances.
• Convenient: The facility is available 24/7, 365 days a year.
To learn more about UPI-PayNow linkage, click here.
