Most used in-store (POS) payment methods in Singapore 2017-2023, with 2027 forecast
the highest penetration rate for cashless payments in Southeast Asia. The growing popularity of wallets is likely tied to the rise of super app Grab - an app that provides everyday services, from transportation to food delivery and other financial services. Grab's user base in Singapore is forecast to nearly reach double figures by 2025 - an important feat as this would be higher than Singapore's entire population.
Credit cards remained the most used in-store payment option available in Singapore, although the market share of wallets did grow. Cash, on the other hand, is expected to see its market share decline further as mobile wallets take their place. In 2020 , Singapore had