Chart of the Day: Cards are top payment method in e-commerce

It accounts for 41.4% of the e-commerce market.

This chart from GlobalData showed that payment through cards are widely used in Singapore in 2022, accounting for the highest share of 41.4% in the total e-commerce market value.

Payment cards are followed by alternative payment solutions such as Apple Pay, PayPal and GrabPay at 37.9% up from 30.6% in the previous year.

Bank transfers are also still used due to convenience and secured methods but their share was down to 15% from 18.4%. Cash payment was less than 10% due to a preference for electronic payments.

“Singapore’s ecommerce market is well developed, supported by the country’s robust technology infrastructure and growing number of tech-savvy customers. The e-commerce market growth is being driven by increasing consumer confidence in online shopping, and the availability of various payment tools,” said Ravi Sharma, lead Banking and Payments analyst at GlobalData.

Singapore’s e-commerce market is expected to reach $15.2b in 2022, up by 19.5% as consumers buy more online. It is seen to grow by 12.4% annually to reach $24.2b in 2026.

Follow the link for more news on

Singapore e-commerce

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia