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Country Report

Credit Card Transactions in

Credit Cards in Singapore

Nov 2020

US$990

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Executive Summary

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Use of credit cards for contactless payments increases during the COVID-19 pandemic

With the spread of COVID-19 locally and reports about the ability of the virus to survive on surfaces for days, consumers were becoming increasingly cautious about handling cash and using PIN number pads as they were seen as being possible media for virus transmission. There has therefore been a rise in contactless credit card usage, as it is seen as offering a safer and more convenient method of payment at retail outlets.

Decline in credit card transaction value due to consumers holding back on discretionary and big-ticket spending

The impact on transaction volume has been cushioned by the contactless benefits offered by credit cards, but average spend per transaction is expected to take a hit in 2020, with the double-digit decline in transaction value. With the uncertain economic climate, consumers are being put off making big-ticket purchases, such as electronics or furniture, which would traditionally be made through a low or no-interest credit card loan.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Credit Card Transactions industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Credit Card Transactions in Singapore market research report includes:

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

Our market research reports answer questions such as:

What is the market size of Credit Card Transactions in Singapore?
What are the major operators and issuers in Singapore?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Credit Card Transactions in Singapore, originate from our database within our Consumer Finance market share and market size database

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Charge Cards in Singapore - Category analysis

Charge Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Charge cards a useful tool for consumers looking to monitor spending habits closely

Travel perks most appealing to consumers

Charge cards remains a relatively stable category

RECOVERY AND OPPORTUNITIES

Economic recovery a double-edged sword for charge cards

Limited potential consumer target market for charge cards

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2015-2020
Table 2 Charge Cards Transactions 2015-2020
Table 3 Charge Cards in Circulation: % Growth 2015-2020
Table 4 Charge Cards Transactions: % Growth 2015-2020
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 6 Commercial Charge Cards Transactions 2015-2020
Table 7 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 8 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 9 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 10 Personal Charge Cards Transactions 2015-2020
Table 11 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 12 Personal Charge Cards Transactions: % Growth 2015-2020
Table 13 Charge Cards: Number of Cards by Issuer 2015-2019
Table 14 Charge Cards: Number of Cards by Operator 2015-2019
Table 15 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 16 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2015-2019
Table 18 Commercial Charge Cards: Number of Cards by Operator 2015-2019
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 21 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 22 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 23 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 24 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 26 Forecast Charge Cards Transactions 2020-2025
Table 27 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 28 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 30 Forecast Commercial Charge Cards Transactions 2020-2025
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 34 Forecast Personal Charge Cards Transactions 2020-2025
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in Singapore - Category analysis

Credit Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Use of credit cards for contactless payments increases during the COVID-19 pandemic

Decline in credit card transaction value due to consumers holding back on discretionary and big-ticket spending

RECOVERY AND OPPORTUNITIES

Immediate return to positive growth expected from 2021 for credit card transactions

Rise in the popularity of no-frills credit cards as issuers re-examine the relevance of rewards

Visa and Mastercard remain the leading operators

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2015-2020
Table 38 Credit Cards Transactions 2015-2020
Table 39 Credit Cards in Circulation: % Growth 2015-2020
Table 40 Credit Cards Transactions: % Growth 2015-2020
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 42 Commercial Credit Cards Transactions 2015-2020
Table 43 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 44 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 45 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 46 Personal Credit Cards Transactions 2015-2020
Table 47 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 48 Personal Credit Cards Transactions: % Growth 2015-2020
Table 49 Credit Cards: Number of Cards by Issuer 2015-2019
Table 50 Credit Cards: Number of Cards by Operator 2015-2019
Table 51 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 52 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 54 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 57 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 58 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 62 Forecast Credit Cards Transactions 2020-2025
Table 63 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 64 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 66 Forecast Commercial Credit Cards Transactions 2020-2025
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 70 Forecast Personal Credit Cards Transactions 2020-2025
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Singapore - Category analysis

Debit Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Competitive landscape of debit cards remains largely unchanged

Preference for contactless payments during the COVID-19 pandemic drives popularity of debit cards

Moderation of spending is key amidst the wider economic recession due to COVID-19

RECOVERY AND OPPORTUNITIES

Debit card usage to remain strong in the medium term with cautious spending among Singaporeans

NETS going strong as leading debit card operator

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2015-2020
Table 74 Debit Cards Transactions 2015-2020
Table 75 Debit Cards in Circulation: % Growth 2015-2020
Table 76 Debit Cards Transactions: % Growth 2015-2020
Table 77 Debit Cards: Number of Cards by Issuer 2015-2019
Table 78 Debit Cards: Number of Cards by Operator 2015-2019
Table 79 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 80 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 82 Forecast Debit Cards Transactions 2020-2025
Table 83 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 84 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in Singapore - Category analysis

Pre-Paid Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Falling public transport and motor vehicle usage due to COVID-19 hits open-loop pre-paid cards

Closure of non-essential stores in the “Circuit Breaker” period affects closed-loop pre-paid cards

RECOVERY AND OPPORTUNITIES

Return to public transport usage to drive the recovery in open-loop pre-paid cards

New GrabPay Mastercard likely to be a hit among Singapore users

The future is mobile for pre-paid card issuers and operators

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 86 Pre-paid Cards Transactions 2015-2020
Table 87 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 88 Pre-paid Cards Transactions: % Growth 2015-2020
Table 89 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 91 Open Loop Pre-paid Cards Transactions 2015-2020
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 93 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 94 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 95 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 96 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 106 Forecast Pre-paid Cards Transactions 2020-2025
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in Singapore - Category analysis

Store Cards in Singapore - Company Profile

PROSPECTS

Financial Cards and Payments in Singapore - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Electronic and card payments continue to eat into the share of cash and other paper transactions

Acceleration in e-commerce as cautious consumers stay at home

Unprecedented support measures to help Singaporeans cope with the impact of COVID-19

What next for consumer payments?

MARKET INDICATORS

Table 113 Number of POS Terminals: Units 2015-2020
Table 114 Number of ATMs: Units 2015-2020
Table 115 Value Lost to Fraud 2015-2020
Table 116 Card Expenditure by Location 2020
Table 117 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 118 Domestic versus Foreign Spend 2020

MARKET DATA

Table 119 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 120 Financial Cards by Category: Number of Accounts 2015-2020
Table 121 Financial Cards Transactions by Category: Value 2015-2020
Table 122 Financial Cards by Category: Number of Transactions 2015-2020
Table 123 Consumer Payments by Category: Value 2015-2020
Table 124 Consumer Payments by Category: Number of Transactions 2015-2020
Table 125 M-Commerce by Category: Value 2015-2020
Table 126 M-Commerce by Category: % Value Growth 2015-2020
Table 127 Financial Cards: Number of Cards by Issuer 2015-2019
Table 128 Financial Cards: Number of Cards by Operator 2015-2019
Table 129 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 130 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 131 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 132 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 133 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 134 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 135 Forecast Consumer Payments by Category: Value 2020-2025
Table 136 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 137 Forecast M-Commerce by Category: Value 2020-2025
Table 138 Forecast M-Commerce by Category: % Value Growth 2020-2025

Megatrends

Country Report

Credit Cards in Singapore

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Use of credit cards for contactless payments increases during the COVID-19 pandemic

Decline in credit card transaction value due to consumers holding back on discretionary and big-ticket spending

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Singapore - Category analysis

Charge Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Charge cards a useful tool for consumers looking to monitor spending habits closely

Travel perks most appealing to consumers

Charge cards remains a relatively stable category

RECOVERY AND OPPORTUNITIES

Economic recovery a double-edged sword for charge cards

Limited potential consumer target market for charge cards

CATEGORY DATA

Credit Cards in Singapore - Category analysis

Credit Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Use of credit cards for contactless payments increases during the COVID-19 pandemic

Decline in credit card transaction value due to consumers holding back on discretionary and big-ticket spending

RECOVERY AND OPPORTUNITIES

Immediate return to positive growth expected from 2021 for credit card transactions

Rise in the popularity of no-frills credit cards as issuers re-examine the relevance of rewards

Visa and Mastercard remain the leading operators

CATEGORY DATA

Debit Cards in Singapore - Category analysis

Debit Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Competitive landscape of debit cards remains largely unchanged

Preference for contactless payments during the COVID-19 pandemic drives popularity of debit cards

Moderation of spending is key amidst the wider economic recession due to COVID-19

RECOVERY AND OPPORTUNITIES

Debit card usage to remain strong in the medium term with cautious spending among Singaporeans

NETS going strong as leading debit card operator

CATEGORY DATA

Pre-Paid Cards in Singapore - Category analysis

Pre-Paid Cards in Singapore - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Falling public transport and motor vehicle usage due to COVID-19 hits open-loop pre-paid cards

Closure of non-essential stores in the “Circuit Breaker” period affects closed-loop pre-paid cards

RECOVERY AND OPPORTUNITIES

Return to public transport usage to drive the recovery in open-loop pre-paid cards

New GrabPay Mastercard likely to be a hit among Singapore users

The future is mobile for pre-paid card issuers and operators

CATEGORY DATA

Store Cards in Singapore - Category analysis

Store Cards in Singapore - Company Profile

PROSPECTS

Financial Cards and Payments in Singapore - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Electronic and card payments continue to eat into the share of cash and other paper transactions

Acceleration in e-commerce as cautious consumers stay at home

Unprecedented support measures to help Singaporeans cope with the impact of COVID-19

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

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