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Going Cashless in Singapore: What Merchants Need to Know

November 21, 2025

Do you remember the last time you paid in cash? With the rapid adoption of digital payments in Singapore, cashless payments are accepted at almost any business, from shopping malls to hawker centers.

According to the latest Visa Consumer Payment Attitudes Study, less than 10% of Singaporeans have cash as their preferred payment method today, with a majority paying in card and e-wallets as a norm. This highlights the strong adoption and preference for cashless payments in Singapore, a trend business have to adapt to, or risk being left behind.

The Cashless Landscape in Singapore: 4 Essential Channels to Know

For businesses looking to go cashless and start accepting cashless payment options, it is important to identify the payment channels your customers use. Here are some of the top payment channels used by Singaporeans:

1. Credit/Debit Cards

   Credit and debit cards are the top payment choice for Singaporean consumers, both offline and online. This is likely due to the ease of payments via a contactless NFC taps or saved cards for e-commerce transactions.

   Some of the major card schemes in Singapore include Visa, Mastercard, and American Express (AMEX).

2. Digital Wallets

   Following closely after card payments are digital wallets. While mostly funded by cards, some digital wallets bring extra value to its users via loyalty programs, rewarding users for making payments using the wallet. For example, GrabPay rewards its users via the GrabRewards program.

   Some of the popular digital wallets in Singapore include GrabPay, DBS PayLah!, Apple Pay and Google Pay.

3. Real-time Payments (PayNow)

   Real-time Payments (RTP) are instant payment systems allowing users to make instant peer-to-peer (P2P) payments, typically via a mobile number, NRIC or QR Code, to the linked bank account. The national RTP system for Singapore is PayNow.

   RTP is a crucial channel as it enables businesses to reach new customers through its support for Cross-border QR Payments.

4. Buy Now, Pay Later (BNPL)

   As an up and rising payment method globally, Buy Now Pay Later (BNPL) is gaining increasing popularity, especially amongst younger generations. For businesses looking to scale, BNPL helps you boost your average order values, conversion rates and overall growth.

   Some of the leading BNPL channels in Singapore include Atome and PayLater by Grab.

How to Accept Cashless Payments: A Single Integration Solution with Fiuu

Now that you are aware of the essential payment channels to support, here comes the integration part. The best way to integrate all the channels above is with a reputable payment gateway like Fiuu.

Fiuu simplifies digital payments for businesses across Southeast Asia, including Singapore, Malaysia, the Philippines, Indonesia and more. Among our comprehensive network of features are:

• Over 110 Payment Methods: Cards, E-Wallets, Bank Transfer, QR Payments, Buy Now Pay Later, Installment Plans and more.

• Multi-level Dashboard Reporting: Manage all your channels and outlets via one unified dashboard.

• Scalable & Flexible Infrastructure: API-powered for a hassle-free integration.

• Automated Reconciliation: No more manual tracking for payments across different channels.

• Simplified Compliance: Fully compliant with PCI DSS and ISO27001:2022 standards.

• Innovative Solutions: Supports Payment Links, Recurring Payments, Tokenization, Mass Payment, Mobile XDK (in-app) and more.

Embrace the Future of Cashless Payments in Singapore with Fiuu

No matter the size of your business, cashless payments are no longer a choice, but a basic expectation in Singapore. Fiuu empowers your business with our simple, scalable and reliable payment processing solutions.

Get started today in just 15 minutes at https://booster.fiuu.com, or reach our payments specialists at [email protected] for further information.