Key Market Indicators
The number of payment terminals in Singapore is projected to reach 5.9 billion by 2026, up from 5.2 billion in 2021. This is a 2.1% year-on-year growth rate. Since 2012, the supply of payment terminals in the country has increased by 3.9% annually. In 2021, Singapore was ranked 16th, overtaken by South Africa with 5.2 billion units. China, Brazil and the United Kingdom were ranked 2nd, 3rd and 4th respectively. The value of payment transactions in Singapore is estimated to reach $1.02 trillion by 2026, up from $948.9 billion in 2021. This is a 1.2% yearly growth rate. Since 2012, the demand for payment transactions in the country has increased by 2.7% annually. In 2021, Singapore was ranked 21st, overtaken by Sweden at $948.9 billion. The United States, the United Kingdom, and Germany were ranked 2nd, 3rd and 4th respectively.
Singapore Payments Market Data and Forecasts
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