India's UPI, Singapore's Paynow to integrate soon, says an official at a G20 meeting
The Unified Payment Interface (UPI) of India and its similar network in Singapore, PayNow, will soon be integrated, according to the Monetary Authority of Singapore, which will result in a 10 per cent reduction in remittance costs, according to a PTI report. The government seeks to reduce the risks of a financial or geopolitical scenario in which traditional payment channels are disrupted by creating a worldwide UPI ecosystem as a bigger strategy based on the geopolitical unrest seen in recent times.
Source: wionews.com
