r/fintech
ASEAN RTP interop sounds like it’s basically solved. From a B2B seat it mostly isn’t
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Payment ops for an APAC regional business out of Singapore. The question I keep getting from Treasury: “If PayNow-DuitNow has been live since November 2023, why are we still paying SWIFT fees to pay our Malaysian suppliers?”Because every live bilateral linkage so far is person-to-person. You can split a dinner bill across the Causeway, settle a Grab fare with a cousin in KL. You cannot pay a Malaysian supplier an invoice through PayNow-DuitNow. Outbound DuitNow-to-PayNow fund transfer is still capped at RM3,000/day as of October 2026. PayNow P2P daily caps sit in the SGD 1,000-5,000 range depending on bank. Corporate PayNow and DuitNow exist for domestic use, but the cross-border linkage layer doesn’t extend to corporate accounts.Project Nexus is the multilateral layer that’s supposed to fix this. Nexus Global Payments incorporated in Singapore April 2025 with RBI, MAS, BNM, BOT and BSP as founding central banks. Their own public material targets late 2027 for live launch, not 2026 as some headlines suggest.So in practice we’re hybrid. Wise and Airwallex for SGD/MYR/IDR/THB vendor payments, correspondent SWIFT for the long tail and anywhere audit trail matters more than speed. For employee reimbursements we keep them off personal PayNow/DuitNow accounts and run them through an expense/AP stack. Ended up on Helios for the ID and MY entities specifically because local-rail...
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