Forecast: Number of E-money Payments in Singapore

The number of e-money payments in Singapore stood at 3.89 billion units in 2023. The volume of these payments has shown varied growth over the past decade, experiencing a healthy increase from 3.09 billion units in 2013. Notable annual growth spikes include 2020 with a 7.51% increase and declines, such as in 2017 with a minor 0.096% decrease. The Compound Annual Growth Rate (CAGR) over the last five years leading to 2023 was 2.3%, indicating a consistent upward trend despite minor fluctuations.

Future Trends to Watch For:

- Continuous steady growth is expected with a forecasted CAGR of 1.42% over the next five years, aiming to reach 4.28 billion units by 2028.

- The digital payment landscape is anticipated to evolve with advancements in technology and increasing consumer adoption, influencing future practices and statistics.