India and Singapore Launch Real-Time Payment Linkage with Non-Bank Financial Institution

India and Singapore have announced the launch of a real-time payment systems linkage, featuring a non-bank financial institution, to help facilitate remittance of money between the two countries. On Tuesday, India and Singapore launched a real-time linkage between their respective payments systems, the Unified Payment Interface (UPI) and PayNow, and Liquid Group (a non-bank financial institution). This is the world's first real-time payment systems linkage featuring a non-bank financial institution as a participant.

The linkage between India and Singapore's payments systems, called the PayNow-UPI Linkage, will enable persons in India and Singapore to remit money between the two countries in real-time. The PayNow-UPI Linkage is the result of a collaboration between DBS Singapore and Liquid Group (a non-bank financial institution). More number of banks will be included in the linkage over time.

The link between India and Singapore's payments systems is the latest in a number of initiatives to facilitate cross-border payments. Previous research on this subject has determined a linkage between the adoption of new payment systems and the level of financial inclusion in a society. This linkage will enable persons in India and Singapore to remit money between the two countries in real-time, reducing the time and cost associated with existing cross-border payments.

The PayNow-UPI Linkage is also a significant step forward in the development of financial services in India and Singapore. This linkage will enable more people in India and Singapore to access financial services and products, and will help promote financial inclusion in both countries. This will also help foster greater economic collaboration between India and Singapore.

The PayNow-UPI Linkage is also a part of India's and Singapore's efforts to promote financial inclusion around the world. It is expected that the PayNow-UPI Linkage will help other countries in the region to develop their own financial services and products, and to promote financial inclusion in their own countries.

The PayNow-UPI Linkage is also a step forward in the development of the global payments system. This linkage will help to facilitate cross-border payments between India and Singapore, and will also help to make payments between other countries in the region more efficient. This will help to promote greater economic collaboration between countries in the region.

The PayNow-UPI Linkage is also an important step in the development of the global financial system. This linkage will help to promote greater collaboration between financial institutions in different countries, and will help to promote greater stability in the global financial system.