A comprehensive overview of the cards, payments and merchant acquirer market in Singapore.
Although growth prospects are being hampered by negative global variables, payments players and regulators continue to push seamless solutions, collaboration and interoperability. The new Payment Services Act has changed the game for providers in that space, while the opening up of the highly developed payments sector for mass transit will boost transactions for global schemes.
Cash remains stubbornly popular, despite residents' love of both payment cards and smartphones, but the city-state's new unified QR standard is threatening cash in its low transaction-value strongholds. Meanwhile, a pair of retail digital bank licences are to be issued in 2020, along with three wholesale equivalents: the regulator has stipulated that the new licensees must be locally controlled.
Demographics and the economy
Key retail banks and issuers
Acquiring and processing
Regulatory and other cards market information
Appendix I: Demographics and the economy
Appendix II: Payments environment
Appendix III: Cards market
Appendix IV: Mobile payments
Appendix V: Profit pool
Appendix VI: The card networks
Appendix VII: Retail banks and issuers
Appendix VIII: Acquiring and processing
Appendix IX: Online acquiring
Adyen Alipay American Express Ant Financial ANZ Apple Pay Asia Pay Association of Banks in Singapore Banco Nacional Ultramarino Bank OCBC NISP Bank of China Bank of China Singapore Bank of Singapore Banking Computer Services BCS BCS Information Systems BCSIS BNU BOC BOCSG Braintree Caltex CapitaLand CapitaVoucher Carousell CAS CBS CC Financial CCS Central Addressing Scheme CEPAS Citibank Citibank Singapore Credit Bureau Singapore Credit Counselling Singapore Credit Saison CTS Dash DBS DBS PayLah! Development Bank of Singapore DFB Digibank Diners Club DWB EasyCard Corporation eBay eNETS Enterprise Singapore Esso EZi Wallet EZ-Link EZ-Reload FAST Fast And Secure Transfers FDMS First Data First Data Merchant Solutions Fiserv GFIN Global Financial Innovation Network Global Trading Pay Gojek Google Google Pay Grab GrabPay GTPay Guangdong Lingnan Pass Guangzhou Knowledge City HDB Housing and Development Board HSBC IB Asia ICBC IMDA Industrial and Commercial Bank of China Info-communications Media Development Authority Islamic Bank of Asia JCB JTC JTC Corporation Kuriya Japanese Market Land Transport Authority Lazada Lee Hsien Loong Liquid Pay LTA MAS Mastercard Maybank Meidi-Ya Monetary Authority of Singapore MotorPay MyInfo National Environment Agency NEA NETS NETS EFTPOS NETS FlashPay NETSPay NETSTARS OCBC OCBC Al-Amin OCBC Wing Hang China Oversea-Chinese Banking Corporation Payment Council Payment Services Act 2019 PayNow PayNow QR PayPal PayPass PayWave Piyush Gupta POSB Post Office Savings Bank PSA Qoo10 Rakuten Singapore Redmart Repayment Assistance Scheme Robinsons Samsung Pay SGQR Shopback SimplyGo Singapore Airlines Singapore Quick Response Code SingPass Singsaver Singstat Singtel Dash SINO Visitor Pass Smart Nation SmoovPay Standard Chartered Stripe Takashimaya Taobao Marketplace Temasek Tencent Tmall.com TMRW Unified Point-of-Sale UnionPay UOB UPOS vCashCard Visa WeChat Pay Wirecard World Economic Forum Worldpay XFERS Wallet Zalora
Verisk financial reports deliver detailed market and competitor intelligence on payments cards, e-money, acquirers, retail banking, and consumer credit in the Asia Pacific region. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.
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