Yono-UPI integration to give more reach for Singapore transactions to India
State Bank of India Singapore on Wednesday said the planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore.The SBI YONO-UPI-PayNow linkage comes amidst the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announcing a plan to launch two new payments solutions in the middle of this year to support the transition to e-payments for both corporate and retail cheque users.”For future enhancements, SBI Singapore is looking at having linkage to the UPI, a Government of India initiative system that powers multiple bank accounts through a single interface,” SBI Singapore CEO M P Siva told PTI on Wednesday.”The planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore, he said.Siva further noted that Singapore is one of the most important markets and we would like to be amongst the best in offering services, given the wide range of ..
Source: Business Standard
