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MAS and ABS chart PayNow 'Generation 2' instant payment enhancements

MAS and ABS chart PayNow 'Generation 2' instant payment study

Singapore · APAC Payment Infrastructure / RTP / Instant Payments
✓ Source Verified Confidence: HIGH Content: Reviewed by GPIR ARCHIVED PUBLICATION
Event Type
Consultation
Originally published
2026-06-25
Lifecycle state
CURRENT
Permanent GPIR record
mas-paynow-gen2-2026
Publication Status
ARCHIVED PUBLICATION

GPIR Summary

MAS and the Association of Banks in Singapore announced they will study four areas of enhancement to Singapore's PayNow instant payment infrastructure under a 'PayNow Generation 2' initiative, announced at the ABS Annual Dinner on 25 June 2026.

Why It Matters

PayNow is Singapore's core retail instant-payment rail; enhancements here affect how consumers, merchants and public agencies transact domestically and set direction for Singapore's broader instant-payments interoperability with regional schemes.

Source

Source
Monetary Authority of Singapore (MAS) and Association of Banks in Singapore (ABS)
Publication
MAS and ABS Chart Instant Payments Enhancements with PayNow Generation 2 Study
Published
25 June 2026
GPIR Validation
VALIDATED
Retrieved
14 August 2026
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