PayNow tie-ups spur competition in cross-border payments scene

Transfers between Singapore and India have doubled since January 2019 at Instarem – the consumer arm of Singapore fintech unicorn Nium. PHOTO: INSTAREM
New: Gift this subscriber-only story to your friends and family

SINGAPORE - The recent tie-ups between Singapore's PayNow service and similar systems in Thailand and India is set to bring more competition to the cross-border payments scene.

That prospect does not seem to daunt existing players in the sector, who told The Straits Times that they welcome the developments and are beefing up their operations amid surging demand.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.