Financial Services & Insurance Research News

Singapore credit card market insights shared in detailed report

Financial Services Market Research

Debit cards with transactions share close to 82% lead the payment cards market of Singapore! Singapore debit cards are primarily divided into PIN-based cards and signature-based cards. Visa and MasterCard are considered under signature-based and NETS EFTPOS under PIN-based debit cards.

Market Data Forecast – Recent Report - Singapore Cards and Payments Market - By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques and Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis and Forecasts (2017 -2021)

In terms of transaction values, debit cards hold the principal share around 82% of the total volume in 2015 with the three leading card issuers accounting close to 94% of the total debit cards payments. In June 2010, a new PIN-based card system called EPINS was launched by Card Alliance Private Limited in Singapore markets.