Payment methods in Singapore

Asia

9methods

47banks

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

Market takeaways

Singapore's e-commerce market is worth US$7 billion in 2022, growing to US$12 billion by 2027.
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.
65% of Singaporean online purchases are completed on mobile devices.
79% of shoppers have bought cross-border, with US$4 billion spent internationally (53% of total e-commerce).

Population

5.9M

Online population

5.4M

B2C e-commerce

$7B

Banked population

98%

Credit card population

67%

E-commerce of total retail

11%

Payment method breakdown

Card53%
Cash1%
Bank Transfer9%
E-Wallet32%
Other5%

Card scheme breakdown

Visa27%
Mastercard19%
American Express3%
Local Schemes48%
Other3%

Cross-border e-commerce

Cross-border shoppers

79%

Share of e-commerce

53%

Cross-border value (est.)

$4B

Featured payment methods in Singapore

Popular options based on coverage and prominence in this market.

Atome (BNPL)

Atome is a leading buy-now-pay-later (BNPL) provider in Singapore and Southeast Asia, letting shoppers split purchases into instalments. (Hoolah, a former competitor, was acquired by ShopBack and its BNPL service was discontinued in March 2024.)

NETS

NETS (Network for Electronic Transfers) is Singapore's domestic debit payment network, responsible for the 48% local card scheme share. NETS-linked debit cards are issued by DBS, OCBC, UOB, and other local banks. NETS supports point-of-sale and e-commerce payments through its QR and card infrastructure.

DBS PayLah!

DBS PayLah! is Singapore's most popular bank-owned e-wallet, operated by DBS Bank. It supports QR code payments, bank transfers, bill payments, and merchant checkout. It is deeply embedded in Singapore's daily payment culture and is particularly popular for hawker centre, retail, and online purchases.

PayNow

PayNow is Singapore's interbank real-time payment system operated by the Association of Banks in Singapore (ABS). It enables fund transfers and payments using a mobile number, NRIC/FIN, or UEN (business ID), with 80% of Singapore residents and businesses registered by 2024. PayNow transaction volume reached SGD 5 billion in 2023 and is increasingly used for e-commerce checkout.

RuPay

RuPay is India's domestic card network with growing cross-border acceptance through bilateral corridors (e.g. Nepal, Sri Lanka, Mauritius, Singapore) and alliances with JCB/Discover/UnionPay.

GrabPay

GrabPay is the super-app wallet of Grab, used for online and in-app checkout across the Philippines, Malaysia and Singapore. Operator: Grab Holdings (GPay Network). Est. users: Several million users across SEA (2025).

All payment methods in Singapore

Discover 9 payment methods from around the world

Showing 9 of 9 payment methods

Apple Pay / Samsung Pay

Atome / Hoolah (BNPL)

Featured banks in Singapore

Major institutions operating in this market.

DBS Bank

Singapore

DBS Bank is Singapore's largest bank and Southeast Asia's leading bank, recognised globally for its digital innovation and strong retail, SME, and corporate banking.

JPMorgan Chase

New York, United States

JPMorgan Chase is the largest US bank and one of the world's largest financial institutions, offering consumer banking, investment banking, commercial banking, and asset management globally.

HSBC Hong Kong

Hong Kong

HSBC is Hong Kong's largest bank and the note-issuing bank of the territory, offering retail, commercial, private, and investment banking.

HSBC Holdings

London, United Kingdom

HSBC is one of the world's largest banks by assets, headquartered in London with a dominant presence in Asia. It offers retail, commercial, and investment banking in over 60 countries.

Industrial and Commercial Bank of China (ICBC)

Beijing, China

ICBC is the world's largest bank by total assets and the largest of China's 'Big Four' state-owned banks. It offers retail, corporate, and investment banking globally.

BNP Paribas

Paris, France

BNP Paribas is France's largest bank and a global top-10 financial institution, providing retail, corporate, and investment banking, insurance, and asset management across 65 countries.