Singapore and Thailand launch cross-border fast payment link

Politics Economy

The central banks of Singapore and Thailand on Thursday announced the launch of the world's first cross-border linkage of real-time payment systems that allow users based in the two countries to make fund transfers using recipients' mobile phone numbers only. The Monetary Authority of Singapore and the Bank of Thailand said in a joint statement that Singapore's PayNow and Thailand's PromptPay have linked up their real-time retail payment systems. "The first of its kind globally, the linkage is the culmination of several years of extensive collaboration between MAS and BOT, both countries' paym...

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