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The users of BHIM, PhonePe, and Paytm apps can receive remittance from Singapore via UPI. Additionally, some banks have also rolled out this functionality through their apps which include Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and SBI.
India and Singapore have linked their digital payments systems, UPI and PayNow, allowing for instant, secure, and cost-effective cross-border remittan
Indians can now receive remittances from Singapore directly into their bank accounts in real-time, thanks to the new UPI-PayNow linkage announced by the National Payments Corporation of India (NPCI). This breakthrough enables users of popular UPI and bank apps, including SBI, Axis Bank, and ICICI Bank, as well as BHIM, PhonePe, and Paytm apps, to access this service.
“BHIM SBI Pay” (UPI App of SBI) is a payment solution that allows account holders of all Banks participating in UPI to send money, receive money and do online bill payments, recharges, shopping, etc. using their smartphones.
UPI-PayNow linkage will allow users to make convenient, safe, instant, and cost-effective cross-border funds transfers using their respective mobile apps.