Non-Bank E-Wallets GrabPay, LiquidPay and Singtel’s Dash to Offer PayNow
The Association of Banks in Singapore (ABS) announced that for the first time PayNow has been made available to three non-bank Financial Institutions (NFIs) namely Grab Financial Group, Liquid Group and Singtel’s Dash effective from today onwards.
The addition of the three NFIs aims to boost the adoption and usage of PayNow and accelerate Singapore’s path towards a less-cash, digital economy.
This move enables the users of these NFI e-wallets to make or receive real-time funds transfers with PayNow, without the need for e-wallet account details. These funds transfers can be made between bank accounts and e-wallets, as well as across e-wallets.