Singaporeans and Malaysians in both countries will be able to make real-time fund transfers with just a mobile number in 2022.

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM), on Sept 27, announced that they intend to link both Singapore’s PayNow and Malaysia’s DuitNow real-time payment systems.

The first phase of the linkage will be launched in the fourth quarter of 2022.

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