BNM and PayNet are joining Project Nexus, which was first announced in July by BIS Innovation Hub and MAS to explore new cross-border payment linkages.
November 12, 2021Currently, e-wallet users in Singapore can hold up to S$5,000 in their accounts at any one time, and transactions are capped at S$30,000 per year.
December 17, 2020Described as "the first-of-its-kind in the world", the link will enable instant money transfers between Singapore’s PayNow and Thailand’s PromptPay.
December 8, 2020Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
December 1, 2020Large denomination notes allow individuals to carry large values of money anonymously, and can facilitate money laundering and other illicit activities, MAS says.
November 4, 2020Nearly two-thirds of all payments traffic on SWIFT is now sent via gpi, with the majority of transactions credited to end beneficiaries within 30 minutes or less.
March 3, 2020ACAMS will encourage financial crime professionals globally to adopt a blueprint for mobilising finance against modern slavery and human trafficking.
February 6, 2020All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.
July 22, 2019A new white paper from NPP Australia provides an overview of developments in other real-time payments markets, including opportunities and challenges for the payments sector.
July 8, 2019The SGQR combines multiple payment QR codes into a single SGQR label, to be rolled out across Singapore over the next six months.
September 18, 2018