MAS exploring links for cheaper, faster cross-border payments

SINGAPORE is looking to connect with more payment systems to speed up cross-border payments.

As it is, the PromptPay-PayNow connectivity that links domestic payments between Thailand and Singapore will go live "very soon", said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

Speaking at the launch of the MAS' report on foundational digital infrastructures for an "inclusive digital economy", Mr Menon on Monday cited an upcoming tie-up between Singapore's real-time payment system PayNow and Thailand's equivalent, PromptPay.