Financial Cards and Payments in Singapore

November 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Financial Cards and Payments industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Financial Cards and Payments industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Financial Cards and Payments in Singapore report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Financial Cards and Payments in Singapore?
  • What are the major trends key to understanding Financial Cards and Payments in Singapore?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?
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Financial Cards and Payments in Singapore - Industry Overview

Financial cards and payments in 2023: The big picture
2023 key trends
Competitive landscape
What next for financial cards and payments?
Table 1 Number of POS Terminals: Units 2018-2023
Table 2 Number of ATMs: Units 2018-2023
Table 3 Value Lost to Fraud 2018-2023
Table 4 Card Expenditure by Location 2023
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 6 Domestic versus Foreign Spend 2023
Table 7 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 8 Financial Cards by Category: Number of Accounts 2018-2023
Table 9 Financial Cards Transactions by Category: Value 2018-2023
Table 10 Financial Cards by Category: Number of Transactions 2018-2023
Table 11 Consumer Payments by Category: Value 2018-2023
Table 12 Consumer Payments by Category: Number of Transactions 2018-2023
Table 13 M-Commerce by Category: Value 2018-2023
Table 14 M-Commerce by Category: % Value Growth 2018-2023
Table 15 Financial Cards: Number of Cards by Issuer 2018-2022
Table 16 Financial Cards: Number of Cards by Operator 2018-2022
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 20 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 21 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 22 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 23 Forecast Consumer Payments by Category: Value 2023-2028
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 25 Forecast M-Commerce by Category: Value 2023-2028
Table 26 Forecast M-Commerce by Category: % Value Growth 2023-2028

DISCLAIMER

Summary 1 Research Sources

Charge Cards in Singapore - Category analysis

KEY DATA FINDINGS

Charge card transactions surge as travel resumes, with American Express elevating member benefits to meet demand
American Express expands its privileges beyond travel as spending patterns shift
Contactless payment transformation favours charge cards
Travel privileges remain key benefits as travel is set to recover further over the forecast period
Table 27 Charge Cards: Number of Cards in Circulation 2018-2023
Table 28 Charge Cards Transactions 2018-2023
Table 29 Charge Cards in Circulation: % Growth 2018-2023
Table 30 Charge Cards Transactions: % Growth 2018-2023
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 32 Commercial Charge Cards Transactions 2018-2023
Table 33 Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 34 Commercial Charge Cards Transactions: % Growth 2018-2023
Table 35 Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 36 Personal Charge Cards Transactions 2018-2023
Table 37 Personal Charge Cards in Circulation: % Growth 2018-2023
Table 38 Personal Charge Cards Transactions: % Growth 2018-2023
Table 39 Charge Cards: Number of Cards by Issuer 2018-2022
Table 40 Charge Cards: Number of Cards by Operator 2018-2022
Table 41 Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 42 Charge Cards Payment Transaction Value by Operator 2018-2022
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2018-2022
Table 44 Commercial Charge Cards: Number of Cards by Operator 2018-2022
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2018-2022
Table 47 Personal Charge Cards: Number of Cards by Issuer 2018-2022
Table 48 Personal Charge Cards: Number of Cards by Operator 2018-2022
Table 49 Personal Charge Cards Transaction Value by Issuer 2018-2022
Table 50 Personal Charge Cards Transaction Value by Operator 2018-2022
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2023-2028
Table 52 Forecast Charge Cards Transactions 2023-2028
Table 53 Forecast Charge Cards in Circulation: % Growth 2023-2028
Table 54 Forecast Charge Cards Transactions: % Growth 2023-2028
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2023-2028
Table 56 Forecast Commercial Charge Cards Transactions 2023-2028
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2023-2028
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2023-2028
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2023-2028
Table 60 Forecast Personal Charge Cards Transactions 2023-2028
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2023-2028
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2023-2028

Credit Cards in Singapore - Category analysis

KEY DATA FINDINGS

Revival of the travel industry spurs growth in credit card transactions, prompting competitive offerings and promotions
Credit cards surpass cash as the preferred personal payment method, driven by enhanced rewards and benefits
Singapore's growing affluent population drives upgrades in exclusive benefits and privileges for elite credit cardholders
Credit cards set to remain attractive payment method for online shopping in an evolving digital landscape
Credit card issuers embrace partnerships and exclusive benefits to remain competitive amid evolving payment landscape
Table 63 Credit Cards: Number of Cards in Circulation 2018-2023
Table 64 Credit Cards Transactions 2018-2023
Table 65 Credit Cards in Circulation: % Growth 2018-2023
Table 66 Credit Cards Transactions: % Growth 2018-2023
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 68 Commercial Credit Cards Transactions 2018-2023
Table 69 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 70 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 71 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 72 Personal Credit Cards Transactions 2018-2023
Table 73 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 74 Personal Credit Cards Transactions: % Growth 2018-2023
Table 75 Credit Cards: Number of Cards by Issuer 2018-2022
Table 76 Credit Cards: Number of Cards by Operator 2018-2022
Table 77 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 78 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 80 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 83 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 84 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 88 Forecast Credit Cards Transactions 2023-2028
Table 89 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 90 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 92 Forecast Commercial Credit Cards Transactions 2023-2028
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 96 Forecast Personal Credit Cards Transactions 2023-2028
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

Debit Cards in Singapore - Category analysis

KEY DATA FINDINGS

Ongoing benefits enhancement drives steady growth of debit card transactions
Evolving consumer behaviour and contactless function fuel growth of debit card transactions
Convenience, accessibility, and budget control to drive further growth of debit cards in Singapore's journey towards a cashless society
Debit card issuers embrace collaboration and partnerships to remain competitive in the evolving payment landscape
Table 99 Debit Cards: Number of Cards in Circulation 2018-2023
Table 100 Debit Cards Transactions 2018-2023
Table 101 Debit Cards in Circulation: % Growth 2018-2023
Table 102 Debit Cards Transactions: % Growth 2018-2023
Table 103 Debit Cards: Number of Cards by Issuer 2018-2022
Table 104 Debit Cards: Number of Cards by Operator 2018-2022
Table 105 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 106 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 108 Forecast Debit Cards Transactions 2023-2028
Table 109 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 110 Forecast Debit Cards Transactions: % Growth 2023-2028

Pre-Paid Cards in Singapore - Category analysis

KEY DATA FINDINGS

EZ-link expands cross-border payment capabilities through Alipay partnership, enhancing travellers’ payment experience
EZ-link expands beyond transportation and announces merger with TransitLink for enhanced convenience
Pre-paid cards evolve with digitalisation to meet demands of Singapore's cashless economy
Collaborative initiatives to drive competition and enhanced benefits for pre-paid cards
Table 111 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 112 Pre-paid Cards Transactions 2018-2023
Table 113 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 114 Pre-paid Cards Transactions: % Growth 2018-2023
Table 115 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 117 Open Loop Pre-paid Cards Transactions 2018-2023
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 119 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 120 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 121 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 122 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 132 Forecast Pre-paid Cards Transactions 2023-2028
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028
The following categories and subcategories are included:

Financial Cards and Payments

    • ATM Cards
      • Commercial Charge Cards
      • Personal Charge Cards
      • Commercial Credit Cards
      • Personal Credit Cards
      • Commercial Debit Cards
      • Personal Debit Cards
      • Closed Loop Pre-Paid Cards
      • Open Loop Pre-Paid Cards
    • Store Cards
      • ATM Transactions
          • Commercial Charge Card Transactions
          • Personal Charge Card Transactions
          • Commercial Credit Card Transactions
            • Average Personal Credit Card Balance
            • Average Personal Credit Card Limit
            • Personal Credit Card Utilisation
          • Commercial Debit Card Transactions
          • Personal Debit Card Transactions
          • Closed Loop Pre-Paid Card Transactions
          • Open Loop Pre-Paid Card Transactions
        • Store Card Transactions
      • Commercial Card Payment Transactions
      • Commercial Electronic Direct/ACH Transactions
      • Commercial Paper Payment Transactions
      • Personal Card Payment Transactions
      • Personal Electronic Direct/ACH Transactions
      • Personal Paper Payment Transactions
        • Commercial Electronic Direct/ACH Transactions
        • Personal Electronic Direct/ACH Transactions
          • Commercial Cash Transactions
          • Commercial Other Paper Transactions
          • Personal Cash Transactions
          • Personal Other Paper Transactions
      • Mobile Proximity Payments
      • Mobile Remote Payments
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This report originates from Passport, our Financial Cards and Payments research and analysis database.

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