Nium Joins FAST and PayNow to Speed up Actual-Time Funds – TechToday

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International funds platform Nium has joined the FAST and PayNow networks in Singapore and is now amongst a rising group of non-financial establishments collaborating on this initiative alongside 30 banks internationally.

The FAST and PayNow networks allow seamless and instantaneous SGD fund transfers between accounts/e-wallets held throughout each banks and non-financial establishments (NFI) inside Singapore.

By way of the direct integration with FAST and PayNow, Nium is ready to get rid of further steps and events within the cost course of.

Nium will now have the ability to present digital account numbers and PayNow proxies to prospects, in addition to ship and obtain native SGD in prospects’ names.

Anupam Pahuja

Anupam Pahuja, Govt Vice President and Normal Supervisor of Asia Pacific, Center East and Africa at Nium mentioned,

“In step with the Financial Authority of Singapore’s (MAS) imaginative and prescient, Nium is now a brand new NFI accessing the community to have the ability to provide cross-border real-time funds into Singapore.

 

We’re already ready to do that in Europe via the SEPA community and are taking a look at integrating instantly into clearing programs throughout many extra international locations.”

 

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