Unlocking Singapore’s eCommerce potential

Singapore is leading both Asian markets and markets worldwide in Fintech and global eCommerce by having some of the most stable and innovative payment landscapes to date. With a population that is spending close to $5 billion in a year, leaders in the Fintech industry are starting to take notice in a big way.

Rapyd, a global Fintech as a service company, announced partnerships with key players of Singapore’s payments ecosystem to provide a single Singapore Platform enabling businesses to go cashless.

Rapyd’s Singapore Platform will bring greater convenience to local consumers and businesses, by enabling them to easily make payments, convert cash to electronic payment methods, or receive funds instantly, all via a single technical integration.

Some of Rapyd Platform Payment Capabilities in Singapore

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PayNow is a peer-to-peer fund transfer service available to retail customers of nine participating banks in Singapore. It offers great convenience benefits for small and mid-size businesses with the ability to send and receive Singapore Dollar funds in Singapore by using just their mobile number or Singapore NRIC/FIN, almost instantly. The sender no longer needs to know the recipient’s bank and account number when transferring money via PayNow.

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As the most popular mobile wallet in Singapore, GrabPay offers seamless QR-based payment experience, integrated loyalty points platform, and operates on top of the most popular Super-Apps in Singapore, Grab.

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A trusted brand name in the country, and supported from 20+ banks in Singapore, FAST is a real-time payment method that enables customers of the participating banks to transfer Singapore Dollar funds from one bank to another in Singapore almost instantly, 24×7, 365 days a year.

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Created by OCBC, one of Singapore’s longest established Banks, OCBC Pay Anyone simplifies the user experience when paying for low-value and high-frequency goods & services, it’s available for 2.2M users in Singapore and allows them to pay using QR code, transfer money to friends and family and even do QR cash withdrawals at the ATMs.

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NETS, Singapore’s national debit payment scheme, is one of the most widely used payment schemes in Singapore with S$24 billion in transaction value processed in 2016. NETS is also one of the most cost-effective and efficient payment modes for merchants.

What does success in Singapore look like for businesses like yours?

You Can Market to a Population of

5.6 million

Access a Mobile eCommerce Market

$4.9 billion

And an Annual Growth in 2020 of

8.35%

Gross Domestic Product of

$323.9 billion

Our Global Services

Rapyd
Collect

Remove the friction from accepting cross-border payments.

Rapyd
Disburse

Meet the demands of your global sellers and Disburse payments quickly and securely.

Rapyd
Wallet

Complement your marketplace experience with the white-label Rapyd Wallet.

Rapyd
Issuing

Flexible payouts are possible with Rapyd Issuing, offer cards to your sellers.

Get the full list of Rapyd payment options in Singapore