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.
Transfers between Singapore and India have doubled since January 2019 at Instarem – the consumer arm of Singapore fintech unicorn Nium.PHOTO: INSTAREM

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.

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