NPCI’s UPI based payment platform BHIM & Rupay along with SBI apps is now launched in Singapore for remittance. Prime Minister Mr. Narendra Modi had launched these three Indian mobile payment apps in Singapore at a business event aimed at internationalization of the country’s digital payment platform. This is the start of Globalization of Indian payment network Rupay & BHIM.
NPCI has linked up their BHIM & Rupay apps with Singapore’s Network for Electronic Transfers (NETS). With this linkage, RuPay users will be able to make payments at all of NETS acceptance points across Singapore.
Similarly, all the holders of Singapore NETS will be able to make online purchase on any National Payment Corporation of India (NPCI) e-commerce merchant website in India, using any of 2.8 million RuPay point of sale terminals in India.
State Bank of India’s Singapore branch had also launched a new application for rupee remittance. With the help of this application, any users of SBI can remit Up to Rs 10,000 in Indian currencies. The remittance process will be supported by Unified Payment Interface (UPI).
Remittance of up to Rupees 100,000 will be made quick, easy and convenient with the help of Virtual Payment Address (VPA). This service will be available to all savings account holders of SBI Singapore.