Singapore

SG · SGP · 702Asia-PacificSGD S$28 methods

Revised · 3 sources

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Singapore's e-commerce market is worth US$7 billion in 2022, growing to US$12 billion by 2027.

$7 bn

e-commerce spend

5.4M

online population

11%

of total retail

53%

cross-border spend

98%

banked adults

67%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend

CategoryLeading methodShare

CardVisa53%
E-WalletGoogle Pay32%
Bank TransferPayNow9%
Other—5%
Cash—1%

Methods in use

top 8 of 28 · by spend

MethodTypeShare

All 28 methods in Singapore →

Checkout behaviour

Local card schemes account for 48% of card transactions — well above the global average — primarily through NETS.

E-wallets are used in 32% of online transactions, led by GrabPay, PayNow, and DBS PayLah.

79%

shoppers buying cross-border

$4B

cross-border value

11%

e-commerce of retail

Facts

ISO 3166: SG · SGP · 702
Region: Asia-Pacific
Population: 5.9M
Currency: SGD S$
Banked adults: 98%
Methods live: 28
Banks covered: 46

Largest banks

Compare with

China New Zealand Israel Costa Rica

Sources

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