PayNow-PromptPay link-up paves way for regional payment network

The funds a person can transfer are capped at just $1,000 per day.
The funds a person can transfer are capped at just $1,000 per day.PHOTO: ST FILE

SINGAPORE - The world's first real-time payment system between Singapore and Thailand is a key milestone in the journey towards a fully paperless and cashless economy, which will lower the time and cost of everything from making online purchases to growing businesses.

The linkage between the national payment systems of the two nations with PayNow-PromptPay is off to a cautious start, with the funds a person can transfer capped at just $1,000 per day.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.