(MENAFN – Caribbean News Global)
By Caribbean News Global 
SINGAPORE/THAILAND – The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real-time retail payment systems; the first of its kind globally.
The linkage is the culmination of several years of extensive collaboration between MAS and BOT, both countries’ payment system operators, bankers’ associations, and participating banks.
According to a press release, ‘customers of participating banks in Singapore and Thailand will be able to transfer funds of up to S$1,000 or THB25,000 daily across the two countries, using just a mobile number. There will be no need to populate information fields such as the recipient’s full name and bank account details, as with normal remittance solutions. The funds…
