193 views
Photo by rupixen.com on Unsplash

Singaporean's use of credit cards for cross-border shopping declines by 11%

It is still, however, the most used payment method when shopping outside SG.

Singaporean's use of credit cards for cross-border shopping declined by 11% in 2022, according to PayPal's Borderless Commerce Report.

Whilst there has been a decline in its use, credit cards remained to be the most used payment method amongst Singaporeans shopping cross-border (56%), followed by PayPal (33%), and debit cards (27%).

According to the report, the decline in the use of credit cards is a sign that merchants need to further expand payment options.

In terms of gadgets used when shopping cross-border, most Singaporeans (84%) do it through their smartphones, whilst others (55%) shop via their laptop.

the products that Singaporeans usually buy are clothing (44%), consumer electronics (22%), and cosmetics (18%) from China (56%), the USA (29%), and South Korea (19%).

Most Singaporeans purchase products either through an online marketplace (84%), the brand's website (36%_, or a retailer's website (34%).

According to PayPal, this finding shows that "partnering with large online marketplaces will help drive greater omnichannel opportunities, leading to a greater customer base."

When asked why they prefer to shop in other countries, more than half (54%) of Singaporeans cited better prices, whilst others said the items they want are not available locally (48%).

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!