BNPL to be the fastest growing online payment method in Singapore

The Edge Singapore
The Edge Singapore3/15/2022 04:03 PM GMT+08  • 2 min read
BNPL to be the fastest growing online payment method in Singapore
Yet, credit and charge cards will continue to be the most preferred online and in-store payment methods, says Worldpay from FIS
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singapore’s e-commerce market is expected to grow at 16% CAGR through 2025 to reach US$10.7 billion, according to the 2022 Global Payments Report by Worldpay from FIS, a financial technology solutions provider.

In 2021, credit/charge cards were the leading online payment method, accounting for 42% of e-commerce transaction value.

However, consumers are showing an increasing preference for buy now, pay later (BNPL) solutions. BNPL is projected to double its share of e-commerce transaction value from 4% in 2021 to 8% in 2025, making it the fastest growing online payment method.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now