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In a significant leap forward for international remittances, sending money from Singapore to India just got faster, easier, and more secure. The National Payments Corporation of India (NPCI) has announced that 13 additional Indian banks have been integrated into the UPI-PayNow cross-border payment service. With this expansion, a total of 19 banks in India now support the seamless transfer of funds between India and Singapore using real-time technology.

This move marks a major milestone in digital financial connectivity between the two countries and is expected to enhance user experience for millions who rely on cross-border remittance services, particularly Indian diaspora living and working in Singapore.

What Is UPI-PayNow?

The UPI-PayNow service is a first-of-its-kind real-time cross-border payment system developed through a collaborative initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). The system allows users in India and Singapore to send and receive funds instantly using their mobile numbers or Virtual Payment Addresses (VPAs). It is a cloud-based infrastructure, pioneering seamless international digital payments and eliminating traditional delays and high transaction costs associated with international money transfers.

Newly Added Banks Supporting UPI-PayNow

The 13 newly integrated Indian banks are:

• Bank of Baroda

• Bank of India

• Canara Bank

• Central Bank of India

• Federal Bank

• HDFC Bank

• IDFC FIRST Bank

• IndusInd Bank

• Karur Vysya Bank

• Kotak Mahindra Bank

• Punjab National Bank

• South Indian Bank

• UCO Bank

Previously connected banks include:

• Axis Bank

• DBS Bank India

• ICICI Bank

• Indian Bank

• Indian Overseas Bank

• State Bank of India (SBI)

With these additions, the total number of Indian banks supporting the UPI-PayNow service has now reached 19.

What NPCI Says

According to the press release issued by NPCI International Payments Limited (NIPL), the international arm of NPCI, this development will significantly strengthen the real-time payment infrastructure between India and Singapore. The newly added banks became operational on July 17, 2025, making the service available to a broader population of users. The system is particularly beneficial for low-value, high-frequency transactions and ensures secure and instant money transfers at minimal costs.

How This Benefits Users

Receiving Money in India:
Anyone with a bank account in one of the 19 participating Indian banks can receive funds via popular UPI apps like BHIM, Google Pay, PhonePe, or through their respective bank apps. The process is quick, reliable, and does not require any complex bank details — just a mobile number or VPA is sufficient.

Sending Money from India to Singapore:
At present, the ability to send money from India to Singapore via UPI is supported by the following banks:

• Canara Bank

• HDFC Bank

• Karur Vysya Bank

• ICICI Bank

• Indian Bank

• Indian Overseas Bank

• State Bank of India (SBI)

Sending Money from Singapore to India:
Users in Singapore can use DBS Singapore or Liquid Group platforms to transfer money directly to India using the PayNow-UPI integration.

A Game Changer for Cross-Border Payments

This UPI-PayNow integration is more than just a technical upgrade — it’s a financial revolution. It empowers individuals, small businesses, and families who rely on international remittances, reducing friction, time, and transaction fees. It also symbolizes the growing collaboration between financial institutions across borders, paving the way for more such integrations in the future.

As digital payments continue to evolve globally, India and Singapore are leading the charge with a scalable, user-friendly, and highly efficient international payment bridge — one that sets a benchmark for other nations to follow.