All countries
Payment methods in Singapore
Here are the top takeaways you need to know about Singapore’s e-commerce market:
- By 2027, the e-commerce market in Singapore will be worth US$12 billion, up from US$7 billion in 2022, in a city state with a population of just 5 million.
- Singaporean online shoppers complete 65% of their e-commerce transactions using a mobile device such as a tablet or smartphone.
- The average Singaporean online shopper spends more than US$1,453 online each year, set to rise to US$2,195 by 2027.
- Popular payment methods in Singapore include Grab Pay, Apple Pay and Samsung Pay, along with various types of bank-transfer apps.
- Singaporeans use digital payment methods in almost half of all online transactions, with e-wallets alone used in a third of all purchases.
Population
Online Population
B2C E-commerce
Banked Population
Credit Card Population
E-commerce of Total Retail
Payment Method Breakdown
- Card 53%
- Cash 1%
- Bank Transfer 9%
- E-Wallet 32%
- Other 5%
[{"label":"Card","value":"53"},{"label":"Cash","value":"1"},{"label":"Bank Transfer","value":"9"},{"label":"E-Wallet","value":"32"},{"label":"Other","value":"5"}]
Payment Methods in Singapore
Card Scheme Breakdown
- Visa 27%
- Mastercard 19%
- American Express 3%
- Local schemes 48%
- Other 3%
[{"label":"Visa","value":"27"},{"label":"Mastercard","value":"19"},{"label":"American Express","value":"3"},{"label":"Local schemes","value":"48"},{"label":"Other","value":"3"}]
Cross-Border E-Commerce
79
Online shoppers who have shopped cross-border
53
Cross-border proportion of total e-commerce
4 bn
$US
Value of cross-border e-commerce
Top cross-border shopping origin markets