Malaysia’s DuitNow to link with Singapore’s PayNow


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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Business News

Indonesia to suspend some palm oil export permits - officials
Oil prices edge higher as IEA's Birol talks up China demand outlook
Indonesia 2022 GDP growth races to 9-year high on resource boom
Foreign investors' latest targets in China
Asia shares skid, dollar gains as yields spike
Bursa likely to be muted as sentiment remains soft
Gold futures likely to trade lower this week
Short-term rates set to remain stable
Elsoft to start its medical device ops soon
WTK strengthens plantation business

Others Also Read