Eromnet expands global network via Singapore's PayNow

| NBNTV = Ban Jae-dong |

Singapore's national standard digital payment network, PayNow, has been integrated into a Korean global payment platform.

Global integrated payment platform operator Eromnet announced it has entered into a business partnership with Singaporean solutions firm Debia to integrate the PayNow digital payment network into its FAVORS payment service.

Launched by the Singaporean government in 2017, PayNow is a national standard remittance platform that allows users to perform real-time, 24-hour transfers using only a mobile phone number or a registered national ID, bypassing the need to access bank accounts directly.

Eromnet noted that PayNow is one of the core digital payment methods widely used throughout Singapore.

FAVORS is a payment platform that integrates easy payments, credit cards, and overseas remittance functions. This integration significantly expands the range of payment options available in Singapore.

Through the platform, merchants can serve multinational consumers via an integrated payment window without building separate systems. The service also allows merchants to receive settlements in a pre-designated currency upon transaction.

"This cooperation with Debia will serve as an opportunity to further expand the global payment network of FAVORS," said Kim Dong-jae, head of the Strategic Business Division at Eromnet. "Moving forward, we will continue to incorporate core payment methods from various countries to create a transaction system without national barriers."