Personal Finance Tips

Top payment methods in Singapore: A guide on best ways to pay

Nicholas Chia

25.08.25

Read time 2 minutes

Wondering what the most popular ways to pay are in Singapore? Explore the top payment options and choose wisely.

Singapore, with a population of around 6.08 million people, has a GDP of approximately 564.77 billion, making it the 28th largest economy in the world. The official currency of Singapore is the Singapore Dollar (SGD).

A highly developed, trade-oriented economy driven by financial services, high-tech manufacturing, and its role as a global logistics hub. It is a member of ASEAN and has extensive free trade agreements, with China, Malaysia, and the US as key partners.


Country	Singapore
Population	6.08 million
GDP (USD)	564.77 billion
Global Ranking	28th
Currency	Singapore Dollar (SGD)

What is the main payment method in Singapore?

The Singaporean payment landscape is dominated by PayNow, which allows instant transfers using just a phone number, and the interoperable SGQR code, which is ubiquitous for payments at hawker centres and retail stores. The default payment method for most retail, dining, and transit (SimplyGo) transactions is a contactless debit or credit card. GrabPay, an e-wallet integrated into the Grab super-app, is also a leading choice for transport, food delivery, and in-store payments.

How to pay in Singapore

Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Singapore.

Payment method	Description	Type
Wise	Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the real mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies.	Online/in-person
PayNow	PayNow is a national real-time payment system that is extremely popular. It allows individuals and businesses to send and receive money instantly using just a mobile number, NRIC/FIN, or by scanning a QR code.¹	Online/in-person
Cards (NETS, Visa, Mastercard)	NETS is the national debit card scheme and is ubiquitous for in-person payments. Credit cards are also extremely common for all types of purchases.²	Online/in-person
Digital Wallets (GrabPay, Apple/Google Pay)	Super-app wallets like GrabPay are popular for transport, food, and payments. International wallets are also widely used.³	Online/in-person
Cash (Singapore Dollar)	While Singapore is highly digital, cash is still accepted everywhere and is used, particularly at smaller food stalls (hawker centres) and by older residents.	In-person

Is PayPal available in Singapore?

Yes, PayPal is accepted in Singapore.⁴

Cover all your international travel expenses with the Wise Multi-Currency Card

Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.

You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.

And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.

Get started with Wise

*Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://growth-layer.live/%3C/a%3E for details.

Sources:

The Association of Banks in Singapore - PayNow

NETS - What is NETS?

Grab - Pay for your everyday needs

PayPal Singapore

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.