Which e-wallet app is the most used in Singapore?
GrabPay topped the list of most number of active users and most downloads in a month.
GrabPay remains the top e-wallet app in Singapore for the eighth quarter running, according to a study by online shopping aggregator firm iPrice and analytics platform App Annie.
iPrice and App Annie used app metrics such as Monthly Active Users (MAU) and total App Store and Google Play downloads in the past eight quarters.
Data revealed that GrabPay consistently obtained the highest MAUs and downloads in the past two years, due to its integration with the super-app Grab along with ridesharing, food, delivery, and other services. Grab claimed in its own social impact report that 77% of overall cashless transactions on the app were performed using GrabPay, and that app usage is 1.3 times higher than the overall cashless usage in Singapore.
GrabPay also ranks first in Malaysia and second in Indonesia in a similar research conducted in the two countries.
DBS-backed e-wallet app DBS PayLah! came in second place, the only semi-closed bank-provided app included in the list. According to the study, DBS PayLah! is aligned with the Monetary Authority of Singapore’s vision to allow users without a bank account to utilise e-payment services. The high number of users is backed by DBS’ credibility in the Lion City, which was hailed as the safest bank in Asia by US trade publication Global Finance in 2016.
In a separate press statement, PayLah! said it aims to double its MAUs from 1.75 million to 3.5 million by 2023.
Fave ranked third in the most used list and fourth in the most downloaded list, with 4 million downloads and MAUs that has tripled over the past years.
EZ-Link was the fourth most used app per month and third in terms of downloads. Alipay rounded up the list of five most used apps, and Singtel Dash placed fifth in downloads.