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NPCI Expands UPI–PayNow India-Singapore Payment Linkage

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NPCI International Payments Ltd. (NIPL), the global subsidiary of NPCI, has announced the inclusion of 13 more Indian banks into the UPI–PayNow linkage between India and Singapore, effective July 17, 2025.

What is the UPI–PayNow Linkage?

  • A real-time, cloud-based cross-border remittance system connecting India’s UPI (Unified Payments Interface) with Singapore’s PayNow.
  • Launched in collaboration with RBI and Monetary Authority of Singapore (MAS).
  • Enables seamless fund transfer using UPI IDs (India) and mobile numbers/VPAs (Singapore).

Total Indian Banks Now Part of UPI–PayNow: 19

Newly Added Banks (13):

  1. Bank of Baroda
  2. Bank of India
  3. Canara Bank
  4. Central Bank of India
  5. Federal Bank
  6. HDFC Bank
  7. IDFC FIRST Bank
  8. IndusInd Bank
  9. Karur Vysya Bank
  10. Kotak Mahindra Bank
  11. Punjab National Bank
  12. South Indian Bank
  13. UCO Bank

Existing Banks (6):

  • Axis Bank
  • DBS Bank India
  • ICICI Bank
  • Indian Bank
  • Indian Overseas Bank
  • State Bank of India

UPI–PayNow Linkage Benefits

FeatureDescription
TypeReal-time, cloud-based remittance system
CostLow-cost, ideal for small-value transactions
SecurityHigh-level security infrastructure
InteroperabilityBetween Indian UPI and Singapore’s PayNow platforms
UtilityPerson-to-person remittances, retail purchases (QR in SG)

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