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Singapore makes leap in cross-border payment arrangement with Thailand

The link-up in the two sides' faster-payment systems will mean instant, secure money transfers from mid-2021

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Participation will be scaled up to include more banks and non-banks over time, says MAS managing director Ravi Menon.

Singapore

SINGAPORE is leading the charge on cross-border payments and settlements, with several trail-blazing moves aimed at solving the perennial issues of speed and cost.

From mid-2021, users of Singapore's PayNow and Thailand's equivalent PromptPay will be able to send money...

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