Central Banking

Singapore and Malaysia to link payment systems

asia pacific

Singapore and Malaysia will connect their domestic real-time payment systems starting from next year, said the Monetary Authority of Singapore and Bank Negara Malaysia.

The first phase of the linkage between Singapore’s PayNow and Malaysia’s DuitNow will launch in the fourth quarter 2022, according to a joint statement published on September 27.

Users will be able to transfer funds across the border using mobile numbers. The regulators did not disclose whether the daily amount of transfers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: