NPCI Adds 13 Indian Banks to India-Singapore UPI-PayNow Platform, Expanding Cross-Border Remittance Network

NPCI International has expanded the India-Singapore UPI-PayNow platform to 19 banks, including 13 new Indian banks. Users in India can now receive money from Singapore in accounts held with any of these banks using UPI-enabled apps such as BHIM, Google Pay, or PhonePe. The platform enables faster and secure cross-border fund transfers, with transactions processed in real-time.

NPCI International has announced a significant expansion of its UPI-PayNow platform, increasing the number of participating banks to 19. This move aims to enhance cross-border remittances between India and Singapore, particularly benefiting the Indian diaspora in the country [1].

The expansion, set to go live on July 17, 2025, includes 13 new Indian banks such as Bank of Baroda, Canara Bank, and Kotak Mahindra Bank, among others [1]. This broadens the reach of the service, making it more accessible and convenient for users in both countries. The initiative is a collaborative effort between the Reserve Bank of India and the Monetary Authority of Singapore, focusing on real-time, secure transactions [1].

The UPI-PayNow service allows users to send or receive money efficiently via a mobile number or Virtual Payment Address (VPA). With the inclusion of these new banks, the network now supports a wider range of transactions, including small and frequent remittances. The service leverages robust security protocols to ensure the safety and reliability of transactions [1].

The expanded network for remittances to India includes 19 banks, such as HDFC Bank, ICICI Bank, and State Bank of India, along with Axis Bank, DBS Bank India, and others [1]. In Singapore, users can send remittances to these banks via DBS SG and Liquid Group customers. Outward remittances from India to Singapore will continue to be supported by these banks [1].

The UPI-PayNow linkage offers a cost-effective and convenient mode for users to engage in cross-border remittances. The service is already operational via QR codes at select merchant outlets in Singapore, further enhancing its utility [1]. This development is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, simplifying the process of digital payments for everyday remittances [1].

The project's expansion involves 19 banks, including Bank of Baroda, Canara Bank, and Kotak Mahindra Bank, among others. According to the press release, the expanded network for remittances to India now includes 19 banks [1]. The initiative represents a pioneering step in global payment connectivity, being the world's first cloud-based real-time cross-border payment system [1].

Overall, the expansion of the UPI-PayNow service underscores a commitment to enhancing the ease of doing business and personal transactions across borders. With continuous improvements and partnerships, the landscape of international remittances is poised for significant transformation, offering users enhanced accessibility and security [1].

References:
[1] https://www.businesstoday.in/personal-finance/banking/story/npci-upi-paynow-linkage-expansion-19-indian-banks-india-singapore-remittances-484919-2025-07-16
[2] https://www.cnbctv18.com/personal-finance/npci-adds-13-banks-to-upi-paynow-linkage-to-boost-india-singapore-remittances-19638315.htm
[3] https://www.business-standard.com/finance/news/npci-india-singapore-upi-paynow-indian-banks-digital-transaction-125071601301_1.html