The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have introduced a real-time payment system linkage between Singapore's PayNow and Malaysia's DuitNow. This follows the earlier QR payment linkage and features live cross-border transfers. The PayNow-DuitNow linkage facilitates instant, secure, and cost-effective transfers, including peer-to-peer and remittances. It incorporates non-bank financial institutions, broadening access. Key participants include Liquid Group, Maybank Singapore, OCBC, UOB, CIMB Bank Malaysia, Malayan Banking, and TNG Digital, with DBS and Hong Leong Bank joining later. Users can transfer up to SGD1,000 or MYR3,000 daily. The service will gradually become available, with full access in both countries expected by early 2024. This initiative, aligning with ASEAN Payment Connectivity and G20 Roadmap goals, enhances cross-border payment efficiency and transparency.