498 views

Chart of the Day: Check out which bank has the most number of credit card users in Singapore

Around 1 in 4 uses a credit card from DBS.

Online shoppers pay with credit cards to maximise savings and rewards. Several payment methods are available to online shoppers in Singapore. However, in a recent survey by SingSaver and Shopback, 79% of those surveyed prefer to use credit cards, followed by Paypal at 12% and eNETS at 3.8%. Cash-based payments like cash on delivery (2.30%) and direct bank transfers (2.04%) were found to be the least popular methods.

The survey revealed that among credit card users, 67% prefer Visa, while 27 % use Mastercard and 6% use American Express. The most widely-used credit cards were from DBS (26%), OCBC (22%), Citibank (17%), and UOB (15%). Besides being convenient, shoppers use credit cards because of the savings or rewards they can earn from their purchase. 83% of those surveyed say they pay with a credit card that gives them discounts or points for online purchases.

For flights and hotels, only 72% of respondents use a card that gives rewards for online travel bookings, likely because most air miles credit cards have high minimum income requirements. However, all major card issuers generally have discounts for hotel booking sites like Agoda and hotels.com.

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

CICT completes acquisition of Paragon
The trust fully utilised the $750m raised through its private placement to help finance the deal.
Markets
iWOW completes acquisition of The Gentle Group
The target company has become a wholly owned subsidiary following the completion of the deal on 1 July.
Markets
NIO deliveries jump 63% in June
The electric vehicle maker delivered 107,658 vehicles in the second quarter, up 49.4% YoY.