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S’pore’s payment cards lead with 40% market share in online transactions

  • 📰 SBRMagazine
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pstrongspan style="font-size:11pt; font-variant:normal; white-space:pre-wrap"span style="font-family:Arial,sans-serif"span style="color:#000000"span style="font-weight:700"span style="font-style:normal"span style="text-decoration:none"An analyst said Singapore’s advanced tech infrastructure has boosted alternative payments.

Singapore's payment cards continue to dominate, commanding over 40% of the market share for online transactions in 2023.

Traditionally, payment cards have led e-commerce payments in Singapore, with credit and charge cards being highly favoured, accounting for a 31.9% share in 2023. Bank transfers also play a significant role, accounting for 15.5% of total e-commerce transaction value in 2023.

 

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