In-store payment methods in Singapore (2026)

Key takeaways:

• In-store payment methods in Singapore now span contactless cards, PayNow via SGQR, digital wallets, and cross-border QR codes.

• Different business types have different requirements: a tourist-facing retailer in Orchard Road has a different setup than a neighbourhood F&B operator.

• Airwallex POS Payments lets you accept credit cards, PayNow, and digital wallets at the counter from a single platform, with funds flowing into one account for easier reconciliation.

In-store payment methods in Singapore have come a long way from cash and card payments at the counter.

Today, businesses can accept everything from contactless cards and PayNow via SGQR to digital wallets and cross-border QR payments.

This guide covers the main in-store payment methods available in Singapore in 2026, how they work, and which options make sense for different types of businesses.

Note that this guide focuses on in-store payments. Online checkout works a little differently, so if you’re looking at payment options more broadly, see our guide to payment methods for Singapore businesses.

The in-store payment landscape in Singapore (2026)

Singapore is firmly a cashless market when it comes to in-store payments. In 2025, digital wallets overtook debit cards as the leading payment method at the point of sale, accounting for 36% of transaction value.¹

Cards as a whole still make up around 40% of point-of-sale value,¹ while 83% of Singapore residents reported using PayNow by the end of 2025.² Cash is still used in places such as hawker centres and wet markets, but its role continues to shrink.

For merchants, the takeaway is simple: there's no single payment method that works for everyone. A local customer might scan a PayNow QR code, a corporate buyer might tap a Visa card, while a tourist from China may prefer Alipay or WeChat Pay.

The challenge is making it easy to accept all of these payments without having to manage a pile of different devices and providers.

Here’s a quick look at the main in-store payment methods businesses need to consider in 2026:

The rest of this guide looks at each payment method in more detail, including how they work, what they cost, and which types of businesses they make the most sense for.

For businesses that want to keep their setup simple, Airwallex POS supports Visa, Mastercard, Amex, Apple Pay, Google Pay, WeChat Pay and PayNow.

That means you can accept cards, contactless wallet payments and local QR payments through the same POS setup, instead of managing separate providers for each payment method.

Contactless card payments

If you run a physical store in Singapore, accepting Visa and Mastercard is pretty much a given. Amex is worth considering too, particularly if you serve corporate or higher-spending customers.

For many shoppers, tapping a card or phone at the counter is simply the easiest way to pay. Most in-store card payments are now contactless:

• Card: Customers tap their physical card on the terminal.

• Phone or smartwatch: Customers can pay using a card stored in Apple Pay or Google Pay.

• Chip-and-PIN: Still available when contactless isn’t an option, but less common at modern checkouts.

What you need to accept cards in-store

The basic setup is fairly simple:

• An NFC-enabled payment terminal that accepts the card networks you want to support

• A merchant account with a payment provider to process transactions and settle the funds

• Card network support for the cards your customers are likely to use, such as Visa, Mastercard, Amex and UnionPay

Most modern terminals support multiple card networks, so you don’t necessarily need a separate terminal for each one.

You also don't need a separate setup for Apple Pay or Google Pay. If your terminal supports contactless payments, customers can generally use a card stored in their phone or smartwatch and tap it on the same terminal.

Card fees and settlement

The cost of accepting cards depends on your payment provider and the type of card being used. As a general rule:

• Local debit cards tend to cost less to process than international cards.

• International and premium cards generally have higher processing costs.

• Corporate cards may have different rates from consumer cards.

• Settlement usually takes a few business days, although the exact timing depends on your provider.

When comparing providers, look beyond the headline transaction fee. Check:

• Which card networks are supported

• Whether there are terminal or account fees

• How quickly funds are settled

• Whether international cards cost more to process

What about Amex? If you mainly serve local everyday shoppers, Visa and Mastercard will cover most of your needs. But if you cater to corporate clients, tourists or higher-end shoppers, accepting Amex can be worth adding to your setup.

PayNow and SGQR: a key option for local customers

If you run a physical business in Singapore, PayNow via SGQR is one of the main payment methods worth offering. It’s familiar to local customers and works well for everything from a quick F&B purchase to a larger retail transaction.

By the end of 2025, 83% of Singapore residents reported using PayNow, so there’s a good chance your local customers already have it set up on their banking app.²

How PayNow works at the counter

The process is straightforward:

1. The customer opens their banking app and scans your QR code.

2. They enter or confirm the payment amount.

3. They check the details and authorise the payment.

4. The money is transferred directly from their account.

SGQR makes this easier for merchants by bringing different QR payment schemes together under one code. Instead of displaying several different QR codes at the counter, you can display a single SGQR code that supports the payment methods you’ve enabled.

SGQR can support PayNow as well as other participating payment schemes, including digital wallets and cross-border payment methods. The exact options available depend on your payment provider.

Static QR vs dynamic QR

The main decision for merchants is whether to use a static or dynamic QR code:

• Static QR: The same printed QR code is used for every transaction. Customers scan it and enter the amount themselves. This is simple and works well for smaller businesses with straightforward transactions.

• Dynamic QR: A new QR code is generated for each transaction, with the payment amount already included. Customers scan and confirm the payment without having to enter the amount manually.

For businesses processing lots of transactions or handling different order amounts, dynamic QR can make checkout quicker and reduce errors from customers entering the wrong amount. Static QR is a simpler option if you want a low-cost, low-maintenance setup.

Airwallex supports PayNow through its POS solution, including dynamic QR payments. This means the payment amount can be generated as part of the transaction, so customers can scan and pay without manually entering the amount.

Digital wallets at the counter: GrabPay, ShopeePay and more

Digital wallets are now a major part of in-store payments in Singapore. In 2025, they overtook debit cards as the leading payment method by point-of-sale transaction value.¹

How different wallets work in-store

There are two main ways customers can pay with a digital wallet:

• Tap-to-pay wallets such as Apple Pay, Google Pay and Samsung Pay work through the terminal's contactless function. If your terminal accepts NFC payments, customers can use these wallets without you needing a separate setup for each one.

• QR-based wallets such as GrabPay and ShopeePay can be accepted through SGQR. If your payment provider supports these schemes, you can accept them through the same QR code displayed at your counter rather than putting up a separate QR code for each wallet.

Here’s a quick overview:

The key thing to check is which payment schemes your provider supports through its terminal or SGQR setup. You don't necessarily need a separate merchant account or device for every wallet.

Do you need GrabMerchant to accept GrabPay?

Not necessarily. Accepting GrabPay at the counter is separate from signing up for GrabMerchant.

GrabMerchant is a broader merchant platform that can give businesses access to features such as Grab promotions and other tools. If your only goal is to let customers pay with GrabPay, you don't automatically need to sign up for the wider GrabMerchant platform.

Cross-border QR payments: an easy way to serve tourists

If you get tourists through your doors, it’s worth making sure they can pay using the methods they’re familiar with. Singapore welcomes millions of visitors from across Asia each year, and many of them are used to paying with their home banking apps and digital wallets.

Cross-border QR payments make this possible without requiring merchants to handle foreign cash or set up a separate payment terminal for every country.

How cross-border QR payments work

Singapore's payment infrastructure is connected to several payment networks across the region. Depending on your payment provider, customers may be able to scan your SGQR code using their home payment app and pay in their own currency.

Some of the regional payment networks connected to Singapore include:

• DuitNow: Malaysia

• QRIS: Indonesia

• PromptPay: Thailand

• UPI: India

• QR Ph: Philippines

There are also international wallet networks such as Alipay+, which connects participating wallets from different markets. This can allow customers to pay using apps such as Alipay and other supported regional wallets.

For example, a Thai tourist could walk into a café in Singapore, scan the merchant's QR code with a supported payment app and complete the payment from their home account.

The merchant receives the funds through their payment provider without having to collect Thai baht or manage the customer's foreign currency.

What do merchants need to accept cross-border QR payments?

You generally don't need to sign up separately with every wallet or payment network.

Cross-border QR acceptance is usually enabled through your payment provider or acquirer, which handles the connections to the relevant payment networks and settles the funds to your business.

The exact payment methods available depend on your provider, so check which regional wallets and QR schemes are included in your setup.

If you specifically want to accept payments from Chinese customers, see our guide to Alipay and WeChat Pay in Singapore.

BNPL: When does it make sense?

Buy now, pay later (BNPL) lets customers split a purchase into installments while the merchant receives payment through the BNPL provider. It can be useful for higher-value purchases where giving customers the option to spread the cost may make them more comfortable buying.

But BNPL isn't something every store needs. For most merchants, it makes more sense as an additional payment option rather than a replacement for cards, PayNow or QR payments.

Some of the BNPL options available to Singapore merchants include:

• Atome: lets customers split eligible purchases into instalments

• Grab PayLater: allows eligible Grab users to pay later or in instalments

• ShopBack PayLater: lets eligible customers split purchases into instalments

Availability and merchant requirements vary by provider, so you'll need to check whether the option you want is supported by your payment setup.

Which businesses should consider BNPL?

BNPL is generally more useful when customers are making a purchase large enough for installments to make a difference. It can be worth considering for:

• Fashion and apparel, particularly higher-priced items

• Electronics and gadgets, where individual purchases can be several hundred dollars or more

• Health, wellness and aesthetic services, especially for larger treatment packages

• Sports and outdoor equipment, where equipment tends to cost more upfront

For lower-value purchases, such as a coffee or a quick meal, customers are less likely to need installment payments.

How to choose the right payment mix for your store

The right payment mix depends mainly on who your customers are, how much they typically spend, and how much you're willing to pay for each transaction.

Start by thinking about who actually shops at your store. A café in Bedok may have very different payment needs from a fashion retailer in Orchard that sees a steady stream of tourists.

Use this as a starting point:

Consider your average transaction value

The amount your customers typically spend also matters.

For low-value, high-volume businesses such as cafés and quick-service F&B, transaction fees can add up quickly. PayNow and QR payments can be a cost-effective option, depending on your provider's pricing.

For higher-value purchases, customers may be more likely to expect card payments, and offering installment options such as BNPL may also make sense.

Before adding a payment method, look at both sides:

• What will it cost you? Check transaction fees, terminal fees and any monthly charges.

• How often will customers use it? There's little value in adding a payment method that very few of your customers want.

• Will it make checkout easier? The best payment mix should make things simpler, not give customers an overwhelming list of options.

Try to keep your setup simple

The more payment providers you use, the more systems you have to keep track of. You may end up with separate merchant accounts, settlement schedules, dashboards and reports to reconcile.

Where possible, look for a provider that covers most of the payment methods you need. Having cards, SGQR and relevant digital wallets managed through the same platform can reduce the amount of admin involved and give you a clearer view of your daily sales.

The goal isn't to offer every possible payment method. It's to cover the methods your customers actually use without making your payment setup harder to manage.

What hardware do you need for in-store payment acceptance?

The hardware you need depends on the payment methods you want to offer. For most businesses, one modern payment terminal plus an SGQR setup can cover the majority of in-store payments.

For businesses that only need PayNow, a static SGQR code is the simplest option and doesn't require a payment terminal. If you want to accept cards as well, you'll need an NFC-enabled terminal.

You don't necessarily need a separate device for every payment method. A well-integrated POS can handle card and contactless payments alongside QR payments from the same setup, which keeps your counter and payment management simpler.

For mobile businesses and pop-ups, Tap to Pay on iPhone is another option, allowing compatible iPhones to accept contactless card payments without a separate terminal.

A simpler way to accept in-store payments with Airwallex

If you want to accept more than just PayNow without adding a separate device for every payment method, Airwallex POS brings your main in-store payment options together in one setup.

You can accept:

• Visa and Mastercard

• Amex

• Apple Pay and Google Pay

• PayNow

• WeChat Pay

This means you can handle cards, contactless payments and QR payments through the same POS setup, instead of piecing together separate terminals and payment providers as you add more payment methods.

If you sell online as well, you can use Airwallex for both your online checkout and in-store payments, giving you one platform to manage payments across both channels.

Frequently asked questions (FAQs)

What are the most popular in-store payment methods in Singapore?

The most widely used in-store payment methods in Singapore are contactless cards (Visa and Mastercard), PayNow via SGQR, and digital wallets including Apple Pay, Google Pay, GrabPay, and ShopeePay. For tourist-facing stores, Alipay and WeChat Pay are also important. Cards and PayNow together cover the majority of local transactions across age groups.

Do I need a separate device for every payment method I accept?

No. A single NFC-enabled card terminal paired with a payment platform that generates dynamic SGQR codes covers contactless cards, Apple Pay, Google Pay, PayNow, GrabPay, and ShopeePay from one device. Cross-border wallets like Alipay+ and WeChat Pay can be activated through the same QR display via your acquirer, with no additional hardware required.

Can tourists from Malaysia and China pay using their home apps at my Singapore store?

Yes, if you have the right setup. Malaysian visitors using DuitNow, Indonesian visitors using QRIS, Thai visitors using PromptPay, Indian visitors using UPI, and Filipino visitors using QR Ph can all pay by scanning your SGQR code directly from their home banking app. Chinese visitors using Alipay and WeChat Pay require Alipay+ and WeChat Pay activation through a licensed acquirer, which is separate from the standard SGQR setup.

Is PayNow free for merchants to accept in Singapore?

PayNow itself operates on the FAST rail, which carries no MDR. In practice, your payment platform will charge a per-transaction fee for generating and processing PayNow QR payments. The fee structure varies by provider, so check your platform's pricing directly. PayNow remains one of the lowest-cost in-store payment options available to Singapore merchants.

What is the difference between SGQR and PayNow?

PayNow is a payment scheme: the underlying instant payment rail that moves funds between bank accounts. SGQR is a unified QR code standard set by MAS and IMDA that consolidates multiple payment schemes, including PayNow, into a single code displayed at the counter. When a customer scans your SGQR code and pays via their banking app, they are using PayNow as the payment rail. SGQR+ extends this to additional schemes including GrabPay, ShopeePay, Alipay, WeChat Pay, and Google Pay.

What in-store payment methods should a tourist-facing Singapore store prioritise?

Start with cards and SGQR as your foundation. Then activate Alipay+ and WeChat Pay through a licensed acquirer to capture Chinese visitors; mainland China was Singapore's top source of international visitors in 2024, with 3.08 million arrivals.⁵ Regional QR linkages (DuitNow, QRIS, PromptPay, UPI, QR Ph) are covered through standard SGQR, so no additional activation is needed beyond your base SGQR setup.

Sources:

1. fintechnews.sg/128337/e-commerce/southeast-asia-payment-methods-2026-global-payments-report/

2. stripe.com/resources/more/payment-methods-in-singapore

3. airwallex.com/en-sg/blog/payment-methods-guide

4. wise.com/sg/blog/what-is-sgqr

5. airwallex.com/en-sg/blog/alipay-wechat-pay-singapore