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Accelerate your revenue with a new audience of customers throughout Singapore - without friction or complexity.
Singapore is one of the most attractive ecommerce markets in Asia with an annual growth rate of 9%, fast internet, and a young tech-savvy middle class. Singapore’s GDP growth in 2019 was the lowest since 2009 due to trade tensions between the U.S. and China, but the long-term outlook for ecommerce is good.
With almost 50% share, credit card is the preferred payment method for online shopping. Digital wallets are gaining traction, currently holding a 23% share. Bank transfers represent 8% and cash on delivery 3%.
Singapore is rising to a cashless society with a quest to become a technology-driven ‘Smart Nation.’ Enterprise Singapore (ESG) revealed the ‘Singapore E-Commerce Programme,’ built in collaboration with ecommerce marketplaces Amazon and Lazada Singapore.
Southeast Asia was already a fintech and an ecommerce hub, but 2020 has seen a resounding increase in the speed with which the region accelerated toward online payments in ecommerce, riding the trend created by the Covid-19 pandemic swiftly into establishing a cashless society as the new norm.
Cross-Border Fulfillment: Landed Cost is Available.
In-Country Fulfillment: Leverage Digital River's industry leading suite of API's to utilize your existing fulfillment partner.