India, Singapore link systems for real-time cross-border cash transfers
India's use of government-created tech to expand its sphere of influence advanced yesterday, when Singapore agreed to link the Unified Payments Interface to its own PayNow scheme – enabling real-time cross-border payments between the two nations.
The announcement is also a demonstration of India using government-developed software to extend its regional influence. Open source software fills a similar role in other fields. Big software companies put energy into Linux to ensure commercial operating systems face robust competition so the likes of Microsoft can't accrue too much influence.
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