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MAS & BSP: Pursue Cross-border Payment Linkages | Fintech InShorts: Latest fintech news, analysis by experts
Sunday, December 22, 2024

MAS & BSP: Pursue Cross-border Payment Linkages

MAS & BSP: Pursue Cross-border Payment Linkages

  • MAS is at the forefront of Singapore’s rapidly growing financial industry, creating new policies and initiatives that address
  • BSP is the central bank and monetary authority of the Republic of the Philippines
  • Signed an enhanced FinTech CA to facilitate interoperable payments between Singapore and the Philippines
  • The enhanced CA builds on the earlier 2017 agreement to broaden the scope of FinTech collaboration
  • The CA will facilitate the linkage of both countries’ real-time and QR payment systems
  • collaboration in payment infrastructure projects aligns with the G20’s efforts to address existing frictions in global cross-border payments

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