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7 Best Payment Gateway Providers in Singapore (2024)

payment gateway singapore

Choosing the right payment gateway for your business in Singapore can make all the difference. The benefits of using payment gateways include secure transaction processing, smooth customer experience, and efficient fund transfers that streamline online payment processing.

In recent years, the Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have taken measures to enhance the payment gateway landscape. One such initiative is the launch of cross-border real-time payment systems linkage between Singapore’s PayNow and Malaysia’s DuitNow. This real-time payment systems linkage not only makes instant, secure, and cost-effective fund transfers easier but also involves non-bank financial institutions from both countries, providing access to a broader group of users.

As you explore payment gateways in Singapore, consider the features and limitations of various options to ensure you select the one that best matches your business requirements and target audience. The right payment gateway can help your business grow and cater to cross-border opportunities as they arise.

What Is A Payment Gateway?

A payment gateway is a crucial service for businesses with an online presence. It acts as a bridge between your customers’ payment methods (such as banks, wallets, and card issuers) and your account, ensuring security and seamless funds transfers. When customers enter their payment details on your website, the payment gateway validates the information and verifies the availability of sufficient funds in their accounts.

Selecting the right payment gateway in Singapore depends on your business requirements and target audience. With numerous options available, it is essential to compare their features, limitations, and costs to make an informed decision. Some popular payment gateways in Singapore include Stripe, PayPal, and DBS PayLah.

As a business owner, you should consider the best payment gateways in Singapore that cater to your specific needs and preferences. Additionally, staying informed about their latest features and enhancements will help you stay ahead in the fast-paced digital environment.

Security is a priority when it comes to online transactions. Reputable payment gateways employ various encryption technologies and fraud prevention systems to protect sensitive customer information. Ensuring you choose a gateway with robust security measures will not only protect your business but also establish trust among your customers.

That said, a payment gateway is an indispensable tool for any online business in Singapore. With the growing e-commerce ecosystem, it’s essential to evaluate and select the most suitable gateway based on your needs.

How Payment Gateways are Shaping Singapore’s Digital Economy


Payment gateways are playing a pivotal role in steering Singapore’s digital economy towards an increasingly cashless society. According to Bloomberg, the market for e-wallets in Southeast Asia is set to expand by 311% between 2020 and 2025, and Singapore is at the forefront of this transformation. Despite having the highest card penetration rate in Southeast Asia, Singaporeans are embracing new payment technologies, with over 4 million e-wallet users now active in the country. This trend is indicative of a larger shift in consumer preferences, favoring convenience and digital innovation.

In this evolving landscape, payment gateways like Stripe, DBS PayLah, and GrabPay are not just facilitators but catalysts of change. These platforms offer diverse, user-friendly, and secure payment options that align with the digital habits of Singaporeans. Their services range from seamless online transactions to integrated mobile payments, reflecting a broader commitment to enhancing the digital payment infrastructure. 

As these gateways continue to innovate and expand their capabilities, they play a crucial role in shaping a more efficient, inclusive, and cashless economic ecosystem in Singapore.

7 Best Payment Gateway in Singapore

stripe logo

1. Stripe – Best for Comprehensive and Customizable Online Payment Platform

Stripe SG (Singapore) is a leading payment processing platform tailored to meet the diverse needs of businesses operating in Singapore. Known for its robust technology and user-friendly interface, Stripe SG simplifies online and mobile transactions, offering an array of tools designed for both small startups and large corporations. 

In fact, according to Keith Rabois, a former PayPal vice president who now backs both Stripe and Square, in a report by Reuters: “I would expect that both (Stripe and Square) could be larger than PayPal.”

With a focus on efficiency and security, it provides Singaporean businesses with a seamless solution for managing a wide range of payment methods, ensuring smooth and reliable transactions in today’s fast-paced digital economy.

Top 5 Features

  • Transaction fees start at 3.4% + S$0.5 for card payments
  • Support 135+ currencies and payment features
  • Friendly APIs
  • Supports:
    • Recurring payments
    • Instant payouts
  • E-commerce integrations: Shopify, BigCommerce, WooCommerce
dbs paylah logo

2. DBS PayLah – Best For Quick And Secure QR Code Payments And Fund Transfers 

DBS PayLah is a personal mobile wallet that allows you to perform various transactions from your smartphone. By using DBS PayLah, you can easily manage your everyday needs by simply scanning QR codes or making instant transfers. As an online payment gateway in Singapore, it offers seamless and secure transactions for both individuals and businesses.

For businesses, DBS PayLah extends its capabilities beyond simple transactions. It offers an array of merchant services, including the ability to receive payments, track sales, and integrate with existing point-of-sale systems. This makes it a versatile tool for businesses of all sizes, from small vendors to large corporations, looking to streamline their payment processes and enhance customer experience.

Top 5 Features

  • Auto top-ups by simply linking PayLah! To your DBS account via digibank
  • Scan and PayLah with over 180,000 acceptance points islandwide. No available overseas
  • Transaction fees of 3.00% (credit cards/debit cards), and 2.00 – 4.00% for instalment plans
  • Accept payments via PayLah!, credit cards, debit cards
  • Conveniently switch between digibank and PayLah! seamlessly with one tap
paypal logo

3. PayPal – Best for International Online Payments and Money Transfers.

PayPal is a popular payment gateway in Singapore, offering a secure and user-friendly platform for businesses to process online payments. As you grow your online business in the country, PayPal can be a reliable option for handling transactions with clients.

This platform enables users to send and receive payments with ease, both locally and internationally, making it a popular choice for a wide range of financial activities, from online shopping to cross-border business transactions. Additionally, it supports various forms of transactions including instant money transfers, online purchases, and invoice payments, catering to both personal and business needs. 

Top 5 Features

  • Transaction fee of 3.49% + 0.69 SGD for PayPal Checkout (domestic transactions)
  • E-commerce integrations: Shopify, BigCommerce, WooCommerce
  • Has PayPal Seller and Buyer Protection for secure online payments and transactions
  • Multi-currency account is applicable
  • PayPal’s mobile app ensures that you can process payments on-the-go
eway logo

4. eWay – Best for Easy Integration with Existing Websites

Eway is a popular online payment gateway in Singapore that has been making payments accessible and convenient for businesses. With over 20 years of experience, they have built a comprehensive platform to support businesses of various sizes and industries.

Specializing in simplifying the complexities of digital payments, eWAY SG offers a range of features including easy integration with existing websites, support for multiple currencies, and a secure, PCI-DSS compliant transaction environment. Its robust platform ensures fast, reliable processing of online payments, making it a favored choice for e-commerce businesses in Singapore.

Top 5 Features

  • Pay-as-you-go pricing at an affordable flat rate of 1.5% + S$0.25 per transaction
  • No lock-in contracts, no hidden fees
  • Schedule recurring payments for your customers, giving you control over how, when, and where you take online payments
  • Accept online credit card payments from major credit and debit card providers Visa, Mastercard, and American Express
  • Certified with level 1 PCI DSS compliance — the highest level of encryption available
hoolah logo

5. Hoolah – Best for Flexible Buy Now, Pay Later Payment Option

Hoolah is a popular online payment gateway in Singapore that offers a “buy now, pay later” solution for both online and in-store purchases. This service is designed to provide consumers with a more flexible and accessible way to make purchases, allowing them to buy items immediately and pay for them in installments without interest.

Catering primarily to the e-commerce market in Singapore, Hoolah SG partners with a wide range of retailers, enabling customers to shop at their favorite stores while managing their budget effectively. This system not only benefits consumers by easing financial burdens but also helps retailers by increasing customer purchasing power and sales.

As you expand your business to Singapore, integrating Hoolah into your payment options can provide a seamless and flexible experience for your customers.

Top 5 Features

  • Accept payments via credit cards or debit cards
  • Hoolah allows your customers to pay for their purchases in 3 interest-free installments
  • This platform is compatible with both debit and credit cards from various major banks (e.g., DBS, POSB, Maybank, and Citibank)
  • E-commerce integrations: Shopify, WooCommerce, Magento, PrestaShop
  • Hoolah charges no extra fees for processing transactions or administrative tasks
grabpay logo

6. GrabPay– Best for Integrated Mobile Payments

GrabPay SG is a key component of Grab’s extensive suite of services in Singapore, offering a versatile and secure mobile wallet solution. It’s designed to cater to the evolving digital payment needs of both consumers and businesses within the bustling urban landscape of Singapore.

Primarily known for its association with the popular ride-hailing app, Grab, GrabPay SG extends its functionality far beyond transportation services. It enables users to make cashless payments for a wide array of services and products, ranging from food deliveries to retail purchases, both online and in-store. The platform’s integration with a multitude of merchants across Singapore makes it a convenient and widely accepted payment option.

On the business front, GrabPay SG provides merchants with accessible and efficient digital payment solutions, facilitating smoother transactions and potentially increasing customer engagement and loyalty.

Top 5 Features

  • GrabPay can be easily integrated with various e-commerce platforms and point-of-sale systems, providing a smooth user experience for both merchants and consumers.
  • Merchants can securely accept cashless payments by having customers simply scan their QR code, eliminating the need for a physical card or cash.
  • GrabPay is accepted across a vast network of merchants in Singapore, making it a convenient choice for consumers and businesses alike.
  • Keep track of your transactions in real-time, helping you stay in control of your finances.
  • GrabPay employs advanced security measures to protect both consumers and merchants from fraudulent transactions, for a safe and secure payment environment. 
choco payment logo

7. Choco Payment – Best User-Friendly and Secure Digital Payment Solution

Choco Payment SG is an emerging online payment solution in Singapore, designed to cater to the specific needs of the rapidly evolving fintech landscape in the city-state. Focused on delivering a seamless and user-friendly payment experience, Choco Payment SG is carving out a niche in the competitive digital payment sector by offering innovative and tailored services.

At its core, Choco Payment SG emphasizes ease of use and flexibility, allowing both individuals and businesses to effortlessly manage transactions. The platform supports a variety of payment methods, including popular digital wallets, credit and debit cards, and direct bank transfers, ensuring that users have a multitude of options for their financial exchanges.

Top 5 Features

  • Transaction fees start at 3.2% + a fixed fee
  • Accepts all major debit and credit cards, such as Visa and Mastercard. Apple Pay and Google Pay are available as well
  • Customizable payment collection
  • All payment details are encrypted with AES-256
  • Real-time transaction monitoring, detailed reporting, and customer support

Which Payment Gateway is the Best?

Payment GatewayBest ForKey FeaturesTransaction Fees
StripeComprehensive and Customizable Online Payment Platform• Supports 135+ currencies
• Friendly APIs
• Recurring payments
• E-commerce integrations
3.4% + S$0.5 for card payments
DBS PayLahQuick And Secure QR Code Payments And Fund Transfers• Auto top-ups
• Scan and PayLah, integration with point-of-sale systems
3.00% (credit/debit cards), 2.00 – 4.00% for instalment plans
PayPalInternational Online Payments and Money Transfers• Multi-currency account
• Seller and Buyer Protection
• E-commerce integrations
3.49% + 0.69 SGD (domestic transactions)
eWayEasy Integration with Existing Websites• Pay-as-you-go pricing
• PCI DSS compliance
• Supports multiple currencies
1.5% + S$0.25 per transaction
HoolahFlexible Buy Now, Pay Later Payment Option• 3 interest-free installments
• E-commerce integrations
• No extra fees for processing
No extra fees
GrabPayIntegrated Mobile Payments• Easy integration with e-commerce platforms
• QR code payments
• Real-time transaction tracking
1% + 8% GST fee (local), 2% (foreign)
Choco PaymentUser-Friendly and Secure Digital Payment Solution• Customizable payment collection
• AES-256 encryption
• Real-time monitoring
Starts at 3.2% + a fixed fee

Each of these payment gateways offers unique advantages. Stripe stands out for its comprehensive and customizable platform, ideal for businesses needing a robust online payment solution. 

DBS PayLah and GrabPay excel in mobile payments, with DBS PayLah offering a deep integration with DBS banking services. 

PayPal is a go-to for international transactions, whereas eWay offers straightforward integration with websites. Hoolah’s BNPL service is great for consumer-focused businesses, and Choco Payment shines in user-friendliness and security for emerging businesses. 

That said, it’s crucial to align the choice of a payment gateway with your business’s specific needs, customer base, and transaction types.

Read Also: Best Business Bank Account in Singapore

Conclusion

With the rise of e-commerce in Singapore, it’s crucial for businesses to utilize reliable and efficient payment gateways. The options can seem overwhelming, but researching the available choices can greatly benefit your company’s online transactions. 

Key Takeaways

  • Select a payment gateway that best fits your business needs and customer preferences. Evaluate the features, transaction fees, security, and user experience before making a decision.
  • Depending on your target market, consider choosing a payment gateway that caters to both local and international customers. This can help expand your reach and improve customer satisfaction.
  • Keep up with industry trends, payment technology advancements, and legal requirements to ensure your payment gateway remains aligned with your business strategy and continues to provide the best possible service to your customers.

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