In 2020, electronic payments accounted for 48 percent of payment transactions volume in Singapore, and this figure is predicted to rise to 54.6 percent by 2025. Singaporeans are switching from paper-based payments to real-time digital payments, as well as mobile wallets.
Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument
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2020
2025*
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FinTech News. (May 25, 2021). Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument [Graph]. In Statista. Retrieved July 15, 2024, from https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/
FinTech News. "Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument ." Chart. May 25, 2021. Statista. Accessed July 15, 2024. https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/
FinTech News. (2021). Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument . Statista. Statista Inc.. Accessed: July 15, 2024. https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/
FinTech News. "Distribution of Payment Transactions in Singapore in 2020, with Forecasts for 2025, by Instrument ." Statista, Statista Inc., 25 May 2021, https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/
FinTech News, Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument Statista, https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/ (last visited July 15, 2024)
Distribution of payment transactions in Singapore in 2020, with forecasts for 2025, by instrument [Graph], FinTech News, May 25, 2021. [Online]. Available: https://www.statista.com/statistics/1298705/singapore-share-of-transactions-volume-by-payment-instrument/