Forecast: Number of E-money Card Payment Terminals in Singapore

The number of E-money Card Payment Terminals in Singapore stood at 222.66 thousand units in 2023. Over the past decade, the number has shown an overall positive trend, with significant growth between 2013 and 2023. Notably, there was a peak growth rate of 21.83% in 2014, slowing down in subsequent years to a more stable pace. The recent years indicate a mixed growth pattern, with a slight decline in 2022, followed by a modest increase in 2023. During this period, the average annual growth (CAGR) from 2018 to 2023 was 3.05%. Forecasts suggest a continued growth trend albeit at a slower rate, with a five-year CAGR of 1.83% leading up to 2028.

Future trends to watch for include:

• Technological advancements in payment solutions such as contactless payments and blockchain technology.
• Increased regulatory support for digital transactions and e-payment solutions.
• Competitive dynamics as more players enter the e-payment terminal market.
• Growth in digital commerce driving the need for more e-payment terminals.