Best Payment Methods in Singapore: How to Receive Money Easily

Introduction

Singapore is one of the world’s leading financial hubs, where digital payments and international money transfers are part of daily life. With its advanced banking infrastructure and tech-savvy population, payment methods in Singapore are fast, reliable, and secure. For those receiving money from abroad, PandaRemit offers a convenient, low-cost, and secure way to access international transfers.

Why Payment Methods Matter in Singapore

Payment systems are central to Singapore’s economic activity. With a cashless-first society, locals prefer credit/debit cards, mobile wallets, and PayNow QR-based payments for everyday purchases. Meanwhile, receiving international remittances is vital for expatriates, foreign workers, and families. Efficient payment methods ensure financial stability and ease of living.

Country Stats

• Population: ~5.9 million

• GDP (USD): $466 billion

• Global Ranking: Top 40 economies worldwide

• Currency: Singapore Dollar (SGD)

Country Overview Table

Main Local Payment Methods in Singapore

1. Credit and Debit Cards
   Widely used across retail, dining, and online platforms. Visa, Mastercard, and Amex are accepted almost everywhere.

2. PayNow & FAST Transfers
   A real-time interbank transfer system using mobile numbers or NRIC. Popular among locals for instant payments.

3. Mobile Wallets (GrabPay, PayLah!, PayWave)
   Contactless payments are growing, supported by QR codes and NFC.

4. Cash
   Still used, especially in hawker centres and traditional markets, but steadily declining.

Receiving International Transfers in Singapore

Many Singaporeans and expatriates receive money from abroad for family support, education, or living expenses. Options include:

• Bank Wire Transfers – Reliable but expensive and slow.

• PayPal/Western Union – Common, but may charge high fees.

• PandaRemit – A modern alternative, offering secure, fast, and low-cost international transfers directly to Singapore accounts.

With PandaRemit, users can receive funds from abroad seamlessly, avoiding hidden charges and delays.

How to Pay and Receive in Singapore (Table)

FAQ

1. Is PayPal available in Singapore?
Yes, but fees can be high compared to other methods.

2. Are credit cards widely accepted?
Absolutely. Most merchants accept Visa, Mastercard, and Amex.

3. Do people still use cash?
Yes, but mostly in hawker centres, taxis, and traditional shops.

4. How can foreigners or family abroad send money to Singapore?
They can use banks, money transfer services, or PandaRemit for a cheaper and faster option.

5. How can I receive money via PandaRemit in Singapore?
Simply register with PandaRemit, choose Singapore as the receiving country, and funds will be transferred directly to your local account securely.

Conclusion

Singapore offers a wide range of payment methods, from advanced digital wallets to traditional cash transactions. For domestic payments, locals rely on cards, PayNow, and mobile wallets. For international transfers, the best option is PandaRemit, which ensures that money sent from abroad arrives quickly, securely, and at low cost.

👉 Start using PandaRemit today and enjoy seamless international transfers in Singapore.