Bank Negara assistant governor Fraziali Ismail (pic) said this initiative would further strengthen the economic ties between Malaysia and Singapore, as well as serve as a key enabler to support post-pandemic economic growth.
KUALA LUMPUR: Bank Negara and the Monetary Authority of Singapore (MAS) plan to begin a phased linkage of Malaysia’s DuitNow and Singapore’s PayNow real-time payment systems.
Bank Negara said the first phase of the DuitNow-PayNow linkage would be launched in the fourth quarter of 2022 and would allow customers of participating financial institutions to make real-time fund transfers between Malaysia and Singapore using just a mobile number.
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