Malaysia, Singapore launch cross-border real-time payment systems connectivity

KUALA LUMPUR: Malaysia's DuitNow and Singapore's PayNow have now been connected with real-time payment systems linkage, owing to the collaborative efforts of Bank Negara and the Monetary Authority of Singapore (MAS), as well as the countries' payment system operators and participating institutions.

The DuitNow-PayNow linkage enables instant, secure and cost-effective P2P fund transfers and remittances between the two countries, said Bank Negara in a statement.