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The Bank for International Settlements (BIS) Innovation Hub Singapore Centre has developed the Nexus concept of a multilateral network connecting multiple domestic instant payment systems (IPS).
instant payments, real-time payments, Monetary Authority of Singapore (MAS), PayNow, PromptPay
India and Singapore have linked their digital payment systems, UPI and PayNow to enable instant and low-cost transfers between the two countries.
remittance, money transfer, cross-border payments, payments infrastructure, UPI, PayNow, real-time payments