SBI rolls out BHIM SBIPay for S'pore-India transfer after UPI-PayNow linkage

Other than SBI, Indian Bank, ICICI Bank and Indian Overseas Bank have been roped in for inward and outward remittances while Axis Bank and DBS India will facilitate inward remittances only

State Bank of India (SBI), one of the banking partners roped in for inward and outward remittances that can be carried out through the UPI-PayNow linkage, has rolled out BHIM SBIPay, a mobile application that will facilitate fund transfers from India to Singapore through registered mobile numbers and from Singapore to India using UPI ID.    

The linkage became operational earlier this week (Tuesday) and is aimed at making cross border transfer between the two countries safe, instant, and cost-effective.

This initiative closely aligns with the G20’s priorities of driving faster, cheaper, and more transparent cross-border payments, the public sector