PayNow

Observers note that cash still has a role in building consumer confidence amid scams and fraud

Move includes AI training for 100,000 professionals, new measures to prepare sector for emerging technologies

The lender plans to roll out same-day outbound remittances from China by the second half of 2026

MAS, ABS announce new entity to oversee Singapore’s 8 national payment schemes including Giro, PayNow and QR code

MAS and ABS also want to spur growth and innovation in global payments with this new body

Retail cheques will still remain available

RESIDENTS here are closer to the day when they will be able to make instant and cheap cross-border money transfers to four other Asian countries via local apps such as PayNow.

Ambitions of going cashless have been around for decades. But frequent banking outages have cast the spotlight on the growth and resiliency of such payments. What’s the way forward?

UOB customers can also make use of a real-time fund transfer service to Thailand and Malaysia using the UOB TMRW app