NPCI International adds 13 Indian banks in UPI-PayNow network to ease frequent remittances; check details

NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Wednesday, July 16, said that it has enhanced the UPI-PayNow real-time payment linkage between India and Singapore by adding 13 more Indian banks. The network, which enables remittances to India, now includes 19 banks.

"With this development, which will go live on July 17, 2025, users in both countries can remit funds to a wider base, making the service more accessible and convenient," NPCI International Payments Limited (NIPL) said in a release.

The UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS).

Here is the list of 19 banks included in the network:

• Axis Bank

• Bank of Baroda

• Bank of India

• Canara Bank

• Central Bank of India

• DBS Bank India

• Federal Bank

• HDFC Bank

• ICICI Bank

• IDFC FIRST Bank

• Indian Bank

• Indian Overseas Bank

• IndusInd Bank

• Karur Vysya Bank

• Kotak Mahindra Bank

• Punjab National Bank

• South Indian Bank

• State Bank of India

• UCO Bank

UPI-PayNow details

Through the UPI-PayNow service, Indians can receive remittances from Singapore in their bank accounts (with any of the 19 banks mentioned above) via their preferred UPI-enabled application, such as BHIM, Google Pay and PhonePe, along with bank apps.

Further, outward remittances from India to Singapore are also available through select banks, including Canara Bank, HDFC Bank, Karur Vysya Bank, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. DBS SG and Liquid Group in Singapore can avail of this service.

"The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure. By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries," Ritesh Shukla, Managing Director & Chief Executive Officer of NPCI International, said.

This service facilitates real-time cross-border transfers between individuals. Using this network, Indian users can receive funds via their UPI IDs and send funds to users in Singapore through their mobile number or VPAs (Virtual Payment Address).

This initiative is a pioneering step in global payment connectivity, enabling cloud-based, real-time cross-border payments for the first time, NPCI said.

The latest expansion is beneficial for Indians in Singapore, especially migrant workers and students, making remittances easy like digital payments, NPCI added.

UPI is already accepted through quick response (QR) codes at some select outlets in Singapore.

UPI is already accepted via QR codes at select merchant outlets in Singapore, further expanding its global utility.

The UPI-PayNow service leverages strong security protocols to ensure safe and reliable transfers, NPCI said, adding that it is ideal for small and frequent remittances, providing users with a convenient and cost-effective way to send and receive money anytime.