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Consumer Payments Country Snapshot: Singapore 2016

Published: Mar-2017 | Format: PDF | GlobalData | Number of pages: 41 | Code: MRS - 120241

Consumer Payments Country Snapshot: Singapore 2016


Singapore has a very well-developed payments system, with strong penetration of all forms of payment cards and healthy growth over the past few years. However, due to the mature nature of the market issuance is set to plateau going forward. Providers will need to shift their focus to encouraging increased use of payment cards, which will be crucial in driving consumers away from cash, which remains popular in the country.

This report examines the consumer payments market in Singapore, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and 
- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and 
- Explores the online payment market in Singapore by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.


- Payment card penetration has grown at a healthy pace, especially for credit cards. With 92% of consumers owning a current account and 72% a credit card the market has matured, and we expect to see very slow growth in both the debit and credit card spaces going forward.
- High internet and smartpenetration among Singaporean consumers has positioned the market for strong growth in online commerce.
- Acceptance of 

Reasons to buy

- Understand the key facts and figures in the consumer payments market in Singapore.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Singapore market and use this knowledge to inform product design.
Table of Contents
Proximity Payments
Remote Payments
Payments Infrastructure & Regulation


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