NPCI International Payments, the international arm of the National Payments Corporation of India, has expanded the UPI-PayNow real-time payment linkage by adding 13 Indian banks to the platform.
The update brings the total number of participating Indian banks to 19, widening access to cross-border remittance services between India and Singapore.
The newly onboarded banks include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC FIRST Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank.
These join Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India, which were already part of the linkage.
Indian recipients can receive funds from Singapore through accounts held at any of these 19 banks using UPI-enabled platforms such as BHIM, Google Pay, PhonePe, and various bank apps.
Outbound transfers from India to Singapore are available through Canara Bank, HDFC Bank, Karur Vysya Bank, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India.
In Singapore, the service is supported by DBS Singapore and Liquid Group.
The UPI-PayNow service was developed as a joint initiative between the Reserve Bank of India and the Monetary Authority of Singapore.
It enables individuals to send and receive money using mobile numbers or Virtual Payment Addresses, with funds reaching the recipient’s account in seconds.
The system is secured by established safety protocols and is especially useful for small, frequent remittances.
As the world’s first cloud-based, real-time cross-border payment linkage, it supports faster and more reliable transactions.
It is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, who rely on affordable and immediate remittance options.
UPI is also accepted via QR code payments at selected merchant outlets in Singapore.
Ritesh Shukla, MD & CEO, NPCI International said,
“The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure.
By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries. This brings added convenience to users through a seamless and trusted platform.”
Featured image: Edited by Fintech News Singapore, based on image by pixelshunter via Freepik
