Singapore and India launch real-time cross-border payments PayNow-UPI:- www.deekpay.com

　　The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) launched PayNow-UPI, a new cross-border payment service, on 21 February. The service connects PayNow, Singapore's cashless payment platform, with India's Unified Payments Interface (UPI). Here are details about the announcement:

　　1. **Service features**: PayNow-UPI connectivity will provide cheaper, faster and safer cross-border retail payments and remittances for businesses and individuals. Users can transfer funds directly between bank accounts or e-wallets.

　　2. **Economic benefits**: Singapore's Prime Minister Lee Hsien Loong has stated that cross-border retail payments and remittances between Singapore and India exceed $1 billion annually, and this new service will help to make the process more efficient.

　　3. **Technical features**: The PayNow-UPI connection is the first cross-border real-time payment system connection in India and the second such connection in Singapore. It is reportedly the world's first cloud-based infrastructure and involves non-banking financial institutions.

　　4. **Promotional message**: In addition, there is a promotional message that reminds users that they can get more information and precise interpretations through the Sina Finance App.

　　Below are related images and promotional information:

　　! [massive information, precise interpretation](//n.sinaimg.cn/finance/cece9e13/20200514/343233024.png)

　　"A huge amount of information, accurate interpretation, in the Sina Finance APP"

　　The announcement showcases the collaboration between Singapore and India in the fintech space and their efforts to promote efficiency in cross-border payments.