Alternative Finances

Singaporeans Choose the Most Tech Savvy Payment Methods

With 42 percent of consumers willing to use digital payment methods, Singapore is fast emerging as the most tech-savvy payment market in Southeast Asian countries.

The readiness among Singapore residents to try digital payment methods is leading finance companies to flock to the market with easy-to-pay applications, which make online shopping all the more easy, according to

Here are four of the recently released payment solutions revolutionizing the way Singaporeans pay.

  1. MasterPass: A Master Card product, it acts as a digital wallet, which securely stores payment details like credit card number, billing address et cetera. Thereby, eliminating the tiring process of checking out, while shopping online.
  2. Dash: Dash lets its customers save, borrow money, pay and buy insurance through the smartphone app. It even lets users download money from their savings account to their cellphones to pay friends and businesses.
  3. Pay Anyone: Pay Anyone lets users transfer money via Facebook, email or SMS within Singapore. The application eliminates the process of acquiring bank account details for making a transfer.
  4. Pay Lah: The app lets users keep a virtual wallet on their cellphone. Once a user has associated the cellphone number to the DBS or POSB bank account, it allows the user to top up their virtual wallet with an amount up to S$999.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Digital Fraud Tracker Report

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