India-Singapore Money Transfers Made Seamless with UPI-PayNow Linkage Expansion

NPCI International Payments Limited (NIPL) has expanded the Unified Payments Interface (UPI)-PayNow linkage, enabling faster and more convenient cross-border money transfers between India and Singapore. The service now covers 19 Indian banks, simplifying remittances for millions, particularly the Indian diaspora in Singapore. To use the service, follow these steps: Log in to your banking app, navigate to foreign remittance, enter beneficiary details, and confirm and send. Receiving funds is just as straightforward. Transaction limits are up to Rs 60,000 per day from India and SGD 1,000 per day from Singapore. The service operates 24x7, 365 days a year and is backed by strong encryption and safety protocols.

The National Payments Corporation of India (NPCI) International Payments Limited (NIPL) has announced a significant expansion of the Unified Payments Interface (UPI)-PayNow linkage, aimed at enhancing cross-border remittances between India and Singapore. This development, set to go live on July 17, 2025, now includes 19 Indian banks, offering a more convenient and efficient way for users to transfer funds between the two countries.

The UPI-PayNow service allows users to send or receive money efficiently via a mobile number or Virtual Payment Address. With the inclusion of prominent banks such as HDFC Bank, ICICI Bank, and State Bank of India, the network now supports small and frequent remittances. The service leverages robust security protocols to ensure the safety and reliability of transactions.

To use the service, users can log in to their banking app, navigate to the foreign remittance section, enter the beneficiary's Singapore mobile number or Virtual Payment Address, and confirm the transaction. The funds are credited in real-time. For receiving funds, users need to register their UPI ID and share it with the sender in Singapore.

The expanded network includes banks such as Bank of Baroda, Canara Bank, and Kotak Mahindra Bank, among others. The transaction limits are set at up to Rs 60,000 per day from India and SGD 1,000 per day from Singapore. The service operates 24x7, 365 days a year, backed by strong encryption and safety protocols.

This initiative represents a pioneering step in global payment connectivity, being the world's first cloud-based real-time cross-border payment system. It not only provides a seamless transaction experience but also strengthens the financial ties between India and Singapore, fostering greater economic integration.

The expansion of the UPI-PayNow service underscores a commitment to enhancing the ease of doing business and personal transactions across borders. Continuous improvements and partnerships are expected to further transform the landscape of international remittances, offering users enhanced accessibility and security.

References:
[1] https://www.business-standard.com/finance/personal-finance/upi-paynow-step-by-step-guide-to-instant-india-singapore-remittances-125071600933_1.html
[2] https://www.businesstoday.in/personal-finance/banking/story/npci-upi-paynow-linkage-expansion-19-indian-banks-india-singapore-remittances-484919-2025-07-16