Commentary

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

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.

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A version of this article appeared in the print edition of The Straits Times on May 05, 2021, with the headline 'PayNow-PromptPay link-up paves way for regional payment network'. Subscribe