The most popular payment methods in Singapore and Southeast Asia

Offering the right payment method is critical to checkout conversion and growing revenue. However, the key is not to offer all popular payment methods in Singapore to every customer at checkout. 

Rather, it means evaluating which are the most relevant methods for your customers and the channels you sell in, and working with your financial technology provider to optimize customer experience and conversion. 

What makes Singapore unique

There are a number of distinguishing features of the Singaporean market. For example, the ecommerce market has a huge share (55%) of cross-border payments, with many businesses selling internationally as well as domestically. This means that any discussion of payment methods in Singapore should also take into account the needs of consumers in nearby markets.

In this post, we will explore some of the most popular payment methods in Singapore and the wider Southeast Asian region, including key considerations for enterprises to keep in mind.