Instant P2P Fund Transfers Now Enabled Between Singapore and Malaysia

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have unveiled a new real-time payment linkage connecting Singapore’s PayNow and Malaysia’s DuitNow.

This facilitates instant person-to-person (P2P) cross-border fund transfers, allowing users to transfer funds between the two countries using only the recipient’s mobile number or Virtual…