Cooperation between Bank Negara, MAS on linking DuitNow and PayNow among topics discussed - Tengku Zafrul

KUALA LUMPUR: Cooperation between both Bank Negara Malaysia (BNM) and the Monetary Authority of Singapore (MAS) to commence a phased linkage of Malaysia’s DuitNow and Singapore’s PayNow real-time payment systems were among the topics discussed with Singapore, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

The first phase of the linkage, which will be launched in the fourth quarter of 2022, allows customers of participating financial institutions to make real-time fund transfers between Malaysia and Singapore using a mobile number.