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Now, the money transactions between India and Singapore have been made easier and faster. For this, NPCI's international branch NIPL, has further expanded the UPI-PayNow link service and added 13 new Indian banks to it.

NPCI International Expands UPI-Pay: There is a good news for Indians living outside the country. Now the money transactions between India and Singapore have been made easier and faster. National Payments Corporation of India's (NPCI) international branch NPCI International Payments Limited (NIPL) has further expanded the UPI-PayNow link service and added 13 new Indian banks to it. With this, real-time money transfer has become more comfortable and widespread for the users of both the countries.

This new facility will come into effect from July 17, 2025 and after this a total of 19 banks in India will become a part of this service. Its direct benefit will be available to those users who send money from Singapore to their family or friends in India.

Which banks are now in this network?

Under this link, money can now be received in India from 19 banks, in which 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 and UCO Bank have been newly added, while Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, State Bank of India are already part of it.

How will money go from UPI to Singapore

People living in India can now receive money from Singapore through any UPI app like BHIM, Google Pay, PhonePe if they have an account in these banks. At the same time, the facility of sending money from India to Singapore is available through Canara Bank, HDFC Bank, Karur Vysya Bank, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. In Singapore, customers of DBS Singapore and Liquid Group can avail this service.

What is UPI-PayNow service?

UPI-PayNow service was jointly launched by the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). Its purpose was to make real-time digital money transfer possible between the common citizens of India and Singapore. In this, a user from India can receive money by sharing his UPI ID and can send money to the user of Singapore through mobile number or VPA (Virtual Payment Address).

This service was launched for the first time in the world as a cloud-based real-time cross-border payment system. This is an important milestone in terms of global digital payment connectivity.

A boon for NRIs

This facility is a boon for Indian expatriates living in Singapore – especially migrant workers, students and professionals. They no longer have to rely on sending cash or expensive international transfer services. This smart option of digital payment transfers money in a matter of seconds – that too at a low cost and in a secure way.

Also, UPI QR code payment facility is already available at select merchant outlets in Singapore, providing further convenience to Indian tourists and NRIs.

On this occasion, Ritesh Shukla, MD and CEO of NPCI International said, "This expansion of UPI-PayNow link is a big step towards strengthening the cross-border payment infrastructure. By onboarding more Indian banks, we are deepening the reach of real-time remittance and taking financial connectivity between India-Singapore to new heights. It is proving to be a reliable and smooth platform for users."

Who will benefit from this?

This facility is specifically designed for people who transfer money frequently and in small amounts — such as students, working people or family members sending money for household expenses. The transaction security is also very strong and the money reaches the receiver's bank account within seconds. This means that you no longer have to wait for months, go through bureaucratic hassles, or pay high transaction fees. With just a few taps, money will move from India to Singapore or vice versa — in a smart, fast, and easy way.