10 Best Payment Gateways for Your Business in Singapore (2022)

Picking the right payment gateway can be one of the biggest decisions you make for your online business in Singapore.

The best payment gateway is not only robust and reliable enough to help make buying on your store a breeze, but also have strong fraud prevention features to keep your money safe.

Needless to say, whether you’re running an e-commerce store (e.g. Shopify, WooCommerce or BigCommerce), mobile games or an app business, the right payment gateway can complement your business.

So, what are the payment gateway options you have in Singapore?

Table of Contents 1Stripe2PayPal3hoolah4eNETS5Braintree6WorldPay7HitPay8eWay9DBS PayLah!102Checkout11Conclusion

Stripe

Key features

  • Flat transaction fee of 3.4% + S$0.50 (credit cards and debit cards), 2.2% + S$0.35 (e-wallets)
  • Accept payments via credit cards, debit cards, AliPay and WeChat Pay
  • Supports
    • Recurring payments
    • Instant payouts
  • E-commerce integrations: Shopify, BigCommerce, WooCommerce

Stripe is one of the fastest growing payment solutions in the world. You can find a Stripe integration with most popular platforms in the market.

Its developer-friendly setup makes it easy to customise your Stripe checkout to support the buying experience you want to provide your customers with.

For merchants running or planning to run an e-commerce store on popular platforms like Shopify, you’ll be happy to find that Stripe integrates seamlessly into the platform as Shopify Payments.

On top of accepting payments from credit cards and debit cards, you can even accept payments via AliPay and WeChat Pay in Singapore.

PayPal

Key features

  • Transaction fees of 3.9% + S$0.50 (domestic sales) and 4.4% + Fixed Fee (international sales)
  • Accept payments via PayPal, credit cards and debit cards
  • E-commerce integrations: Shopify, BigCommerce, WooCommerce

PayPal is one of the oldest and most popular payment solutions around. As a widely recognised brand, the PayPal logo signifies security, convenience and speed.

Easily accept payments through PayPal, credit cards and debit cards from major banks in Singapore and around the world.

Whether you are running an online business with customers from Singapore or abroad, PayPal can help boost the credibility of your store and improve conversions.

The downside with using PayPal is that it isn’t quite as easy to customise as Stripe. Unless PayPal is already deeply integrated into the platform you use, you often times end up with a clunky payment page which isn’t quite seamless.

hoolah

Key features

  • Transaction fee info N/A
  • Accept payments via credit cards or debit cards
  • Supports interest-free, payment by instalments
  • E-commerce integrations: Shopify, WooCommerce, Magento, PrestaShop

hoolah provides a “buy now, pay later” option for your customers. Instead of having to shell out the entire sum now, your customers can opt for an interest-free instalment plan, paid across the course of a few months.

Having this payment option can greatly reduce friction when it comes to making purchase decisions in your store.

hoolah is best for merchants selling high-ticket items which are typically too pricey to pay upfront, or those selling to a market of young adults or individuals who may not yet qualify for conventional instalment from banks.

For merchants, there’s almost no risk: you get paid upfront, while hoolah will collect the money by instalment from your buyers.

Best of all, hoolah integrates with most popular e-commerce platforms like Shopify and WooCommerce. 

eNETS

Key features

  • Transaction fee of 3.4% + S$0.50
  • Accept payments via credit cards, debit cards and direct debit

eNETS is one of Singapore’s pioneer payment gateways in Singapore. Other than accepting payments by credit cards and debit cards, eNETS also offers merchants the option of accepting payments via direct debit.

If your business model requires direct debit support, you’ll want to go with eNETS as it is the only payment gateway in Singapore to support this payment method.

Braintree

Key features

  • Transaction fees of 3.4% + S$0.50 (credit cards and debit cards), PayPal rate determined by PayPal
  • Accept payments via credit cards, debit cards, PayPal
  • Supports recurring billing
  • E-commerce integration: Shopify

Braintree is a payment gateway service by PayPal. With Braintree, you can accept payments not only by credit card and debit card, but PayPal as well.

Braintree’s payment gateway is mostly suited for e-commerce stores and stores which require less checkout page customisation.

WorldPay

Key features

  • Transaction fees from 2.75% + £0.20 for credit cards and debit cards (pay as you go), and 2.75% for credit cards and 0.75% for debit cards plus £19.95 (monthly fee)
  • Accept payments via credit cards and debit cards
  • Supports recurring billing

WorldPay is a versatile payment gateway for any e-commerce website or online store. Its fees are pretty competitive when compared to other payment gateways.

HitPay

Key features

  • Transaction fees of 0.80% + $0.30 (PayNow), 2.9% + S$0.60 (domestic sales), 3.65% + S$0.50 (international sales), 2.7% + S$0.35 (AliPay and WeChat Pay)
  • Accept payments via PayNow, credit cards, debit cards, AliPay and WeChat Pay
  • E-commerce integrations: Shopify, WooCommerce, PrestaShop, Magento, Wix

HitPay is an emerging payment gateway in Singapore. If you want to offer more local payment options like PayNow, HitPay can provide your store with a unique payment solution.

Other than these, you can also accept payments using e-wallets like AliPay and WeChat Pay.

On top of a larger number of payment options, 

It offers one of the most competitive payment gateway rates in Singapore.

With HitPay, you can also accept payments with AliPay and WeChat Pay.

Suitable for small businesses selling online, or multi-channel.

eWay

Key features

  • Transaction fees of 3.4% + S$0.50
  • Accept payments via credit cards and debit cards
  • E-commerce integrations: Magento, OpenCart, WooCommerce, Virtuemart, Prestashop

eWay can help you accept payments using credit cards and debit cards. 

One of the biggest advantages of using eWay is the large number of integrations the payment gateway has with open-source e-commerce CMS. If you are running your online store site on one of the popular ones, you’ll likely find an integration with eWay.

DBS PayLah!

Key features

  • 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

DBS PayLah! is a DBS-linked wallet in Singapore. Any DBS user can make payments to merchants who have linked their online stores with PayLah!

Customers can pay using PayLah! by debiting money directly from their DBS accounts.

For merchants who want to have a wide reach, you’ll find no better solution than PayLah! as DBS is one of the most popular banks in Singapore. This can be a great way to increase your online business’s credibility, reduce payment friction and boost conversions.

2Checkout

Key features

  • Transaction fees from 3.5% + 0.30 EUR (2SELL), 4.5% + 0.40 EUR (2SUBSCRIBE) and 6.0% + 0.50 EUR (2MONETIZE)
  • Accept payments credit cards and debit cards
  • Supports
    • Subscriptions
    • Digital product sales
  • E-commerce integrations: Shopify, Wix, ecwid

2Checkout is one of the most popular payment gateways in the world. Whether you have a conventional e-commerce store, a subscription store or selling digital products, 2Checkout can support your business.

If you sell through any of the popular e-commerce platforms, you’ll likely find an integration for 2Checkout.

Conclusion

Choosing the right payment gateway can make a whole lot of difference for your business. Thankfully for businesses in Singapore, there are many reliable payment gateway options to select from.

Your final choice for payment gateway will largely depend on the type of business you are running and the payment methods that support your business model.

On top of that, you might also want to choose a payment gateway with fees that don’t cut too much into your profit margins.

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5 Responses

  1. are these b2c options or b2b options? where do they sit in the payments cycle – are they front-facing or back-end support?

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