Digital wallets became Singapore’s dominant payment method in 2025 and are projected to capture 45% of total transaction volume by 2030, according to Worldpay’s Global Payments Report 2026. In 2025, digital wallets accounted for 40% of e-commerce value and 36% of point-of-sale (POS) spending. Credit cards followed in e-commerce with a 34% share, alongside account-to-account (A2A) payments at 11%, debit cards at 9%, and buy-now-pay-later (BNPL) services at 3%. A2A transactions are expected to grow to 13% of e-commerce by 2030.
At physical retail locations in 2025, credit cards comprised 27% of transaction value, while cash, A2A payments, and debit cards each held 12%. By 2030, digital wallets are expected to command 44% of in-store spending, with A2A payments expanding to 15%. Over this period, Singapore’s e-commerce payment market is projected to expand at a 9% compound annual growth rate (CAGR), rising from $25 billion to $38 billion, while POS market value is set to grow at a 4% annual pace, from $136 billion to $163 billion.
Cards remain a primary funding mechanism for digital wallets such as Apple Pay and Google Pay, whereas regional platforms like GrabPay, ShopeePay, and PayNow support direct bank transfers. Local infrastructure—including the Association of Banks in Singapore’s PayNow and the Monetary Authority of Singapore’s SGQR framework—enables mobile banking integration. Across underlying card networks, Visa led the market in 2024 with a 41% share, followed by Mastercard (33%), NETS (17%), and American Express (7%).
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