8 best online payment processors in Singapore (2026)

Key Takeaways:

• With 92% of Singaporeans using electronic payments¹, choosing the right online payment processor is critical for businesses.

• The best online payment processors differ in fees, supported payment methods, multi-currency settlement capabilities, and integration options. The right choice depends on your business model and the markets you sell to.

• Airwallex Payments supports 160+ local payment methods across 180+ countries. With Airwallex POS, you can also accept in-person payments alongside online payments through Airwallex.

Finding the best online payment processor isn't straightforward. The right choice depends on your customers' preferred payment methods, the markets you sell to, and the fees you're willing to pay.

With 92% of Singaporeans using electronic payments¹ and digital wallets projected to grow even further by 2027², getting this decision right can have a real impact on your revenue and your customers' checkout experience.

Read on to find out the top online payment processors in Singapore and what to look for when choosing one.

What is an online payment processor?

An online payment processor handles the movement of money from your customer’s bank to your business. It sends payment details through the card network, gets the bank’s approval and arranges the transfer of funds.

Wondering what’s the difference between a payment gateway and payment processor?

Simply put, the payment gateway captures card details at checkout, while the processor handles the transaction behind the scenes.

Our guide to the difference between a payment gateway and a payment processor explains how they work together.

If you’re looking for a payment gateway rather than a processor, also read our guide to payment gateway options for Singapore businesses.

Top 8 online payment processors in Singapore (2026)

Businesses in Singapore have several online payment processors to choose from. Here's a quick overview of the best options:

This information is based on publicly available information accessed on 14 Oct 2026. Information reflects Airwallex's own research and has not been independently verified.

1. Airwallex

Airwallex lets you accept payments in 180+ countries, and it stands out for businesses that earn and spend money across borders.

Rather than converting all international revenue into SGD, you can settle payments in up to 14 currencies, hold those funds, and use them to pay overseas suppliers or other business expenses. This helps you avoid unnecessary conversions and FX fees.

By combining payment collection with multi-currency accounts and international transfers, Airwallex helps you manage both incoming revenue and day-to-day cash flow across borders.

Features

• Like-for-like settlement: Settle eligible payments in the same currency customers paid in, across 14 supported currencies.

• Multi-currency balances: Hold funds in 20+ currencies in your Airwallex Wallet.

• Settlement timing: Singapore card payments typically settle three business days after capture, subject to account terms.

• International payouts: Send funds to recipients in 200+ countries and regions.

• Dispute management: Respond to card disputes and submit supporting evidence through Airwallex.

• Refunds: Process full or partial refunds for supported payment methods.

• Fraud prevention: Use built-in fraud tools to help identify suspicious transactions and reduce chargeback risk.

You can sign up for an Airwallex account fully online. There are no setup fees, monthly fees, or minimum balance requirements on the free Explore plan.

2. Adyen

Adyen is known for serving large, international businesses that need tight control over payment operations across markets.

Its strength is bringing payment processing, settlement, reconciliation and risk management into one platform, giving finance teams a clearer view of how transactions translate into payouts.

It is particularly suited to established businesses with complex payment flows and high transaction volumes.

Features:

• Like-for-like settlement: Settle in supported transaction currencies when the currency and payment method are eligible.

• Configurable payout schedules: Set payout frequency and settlement delays based on your account configuration.

• Multi-currency payouts: Receive funds in supported currencies, with local or cross-border payouts depending on the currency and bank account.

• Sales-day settlement: Group transactions from a defined sales day into a single payout batch.

• Reconciliation reports: Review sales, refunds, chargebacks and transaction costs in settlement reports.

• Dispute management: Accept or defend chargebacks through Adyen’s Customer Area or Disputes API.

• Risk management: Use Adyen’s risk tools to help identify and manage potentially fraudulent transactions.

Information in this section is based on Adyen’s official website as of 14 Oct 2026.

3. Checkout.com

Checkout.com is geared towards high-growth digital businesses and enterprises that need control over payment operations across markets.

Its processing and reporting tools help finance teams track settlements, reconcile payouts and manage disputes, while its handling of multiple currencies makes it relevant for businesses processing international transactions.

Settlement arrangements depend on the merchant’s region, currencies and agreement.

Features

• Settlement timing: Most payment methods settle within one to three business days, though timing varies by method and market.

• Currency conversion: Supports processing and settlement across currencies, with conversion applied when funds need to be settled in a different currency.

• Payout scheduling: Configure settlement time zones and, where available, payout thresholds.

• Settlement reporting: Download payout and settlement reports to reconcile incoming funds.

• Dispute management: Monitor disputes and submit evidence through the Dashboard or API.

• Chargeback handling: Track chargeback outcomes and associated fund reversals.

• Refunds: Return payments to the original payment method, subject to payment-method rules.

Information in this section is based on Checkout.com’s official website as of 14 Oct 2026.

4. HitPay

HitPay is built around the needs of Singapore SMEs that want straightforward access to their sales revenue.

Its payout arrangements differ by payment method, with non-card payments reaching a HitPay balance on the next calendar day and card payouts starting from the next business day.

Features

• Non-card payouts: Funds from non-card payments reach your HitPay balance on T+1 calendar day.

• Card settlement: Card payouts start from T+1 business day, with the final schedule determined by compliance review.

• Cross-border payments: Accept payments from overseas customers using supported local payment methods across multiple markets.

• Currency conversion: Foreign-currency payments can be converted to your home currency at settlement.

• Refunds: Process refunds for completed card and PayNow payments through HitPay.

• Dispute management: Manage chargebacks and submit responses to payment disputes through HitPay.

• Fraud monitoring: HitPay provides fraud monitoring and dispute management for transactions processed through its platform.

Information in this section is based on HitPay’s official website as of 14 Oct 2026.

5. PayPal

PayPal is best known for its consumer wallet and international reach.

For merchants, that means customers in many markets can pay using a PayPal account or supported card options, while businesses receive payouts through PayPal rather than directly through a traditional acquiring bank.

Its processing model is particularly relevant to online sellers whose customers already use PayPal to pay.

Features

• Payouts to bank accounts: Withdraw available PayPal funds to a linked bank account, subject to local withdrawal options and processing times.

• Multi-currency balances: Hold balances in multiple supported currencies, subject to account and country availability.

• Currency conversion: PayPal may convert foreign-currency payments or withdrawals, with conversion costs depending on the transaction.

• Payment holds: Funds may be held temporarily for account reviews, new-seller checks or transaction risk.

• Refunds: Issue full or partial refunds through the PayPal activity dashboard.

• Dispute resolution: Respond to customer disputes and claims through PayPal’s Resolution Centre.

• Chargeback handling: Track card chargebacks and provide evidence when a buyer disputes a transaction.

Information in this section is based on PayPal’s official website as of 14 Oct 2026.

6. Shopify Payments

Shopify Payments is designed for merchants who want to manage payments and payouts directly within Shopify, without a separate payment processor account.

Its main advantage is the close integration with Shopify’s order and finance records, making it easier to track sales, refunds, disputes and payouts in one place.

It works best for businesses already committed to Shopify, though payout timing and currency options depend on the store’s location and subscription plan.

Features

• Payout timing: Singapore merchants have a minimum settlement time of four business days, with longer timelines possible for new accounts.

• Payout schedules: Choose daily, weekly or monthly payouts, excluding weekends and public holidays.

• Multi-currency payouts: Eligible Singapore merchants on Advanced or Shopify Plus can receive payouts in SGD, USD, EUR, GBP and JPY.

• Payout tracking: View pending, in-transit, paid and failed payouts in Shopify admin.

• Refund handling: Refunds are deducted from your next available payout and returned to the customer’s original payment method.

• Chargeback management: Review disputes, submit evidence and track outcomes in Shopify admin.

• Dispute deductions: When a chargeback is raised, the disputed amount is deducted from your next available payout.

Information in this section is based on Shopify’s official website as of 14 Oct 2026.

7. Stripe

Stripe is known for its flexible payment infrastructure and detailed reporting, giving businesses control over how transactions are reconciled and when available funds are paid out.

For Singapore businesses, its default payout speed is T+7 calendar days, so it’s worth distinguishing how quickly funds become available from how often payouts are sent to a bank account.

Features

• Payout timing: Singapore accounts have a default payout speed of T+7 calendar days, though the timing can vary by account.

• Payout schedules: Choose daily, weekly, monthly or manual payouts.

• Multi-currency settlement: Eligible Singapore businesses can add supported non-SGD bank accounts to receive payouts in other currencies.

• Payout reconciliation: Use payout reports to match bank deposits with the transactions included in each payout.

• Dispute management: Submit evidence through the Stripe Dashboard to challenge card disputes.

• Refund handling: Issue full or partial refunds through the Dashboard or API.

• Payment holds: Stripe may delay payouts or hold funds for risk reviews or account checks.

Information in this section is based on Stripe’s official website as of 14 Oct 2026.

8. 2C2P

2C2P is a Singapore-headquartered payment processor with a strong presence across Southeast Asia, serving businesses in sectors such as travel, retail and hospitality.

Its processing capabilities include settlement reporting, foreign-currency handling and post-settlement dispute management. Settlement timing and terms are agreed with each merchant, so businesses should confirm their payout schedule during onboarding.

Features

• Settlement schedules: Payout timing is set out in the merchant agreement and varies by account.

• Multi-currency processing: Support transactions priced in customers’ local currencies, subject to available markets and payment methods.

• Settlement reporting: Download reconciliation reports showing transaction amounts, fees, settlement currency and net settlement amounts.

• Refunds: Submit refunds for settled card transactions, with alternative payment method refunds processed according to the relevant method’s rules.

• Dispute management: Access post-settlement payment dispute tools to manage transaction disputes.

• Payment tokenisation: Store card details as secure tokens for supported repeat-payment flows.

• Merchant payouts: Use the Payout API to send funds to eligible bank accounts and wallets, with payout status notifications.

Information in this section is based on 2C2P’s official website as of 14 Oct 2026.

How to choose an online payment processor

Choosing a payment processor isn’t just about the fee you pay per transaction. You also need to know when you’ll receive your money, which currencies you can settle in, and what happens when a customer requests a refund or disputes a payment.

Here are five things to check before choosing a provider:

Match the pricing model to your volume

Flat-rate pricing charges the same rate for every card payment, making costs easier to predict. Interchange++ pricing breaks the cost into three parts: the issuing bank’s interchange fee, the card network’s scheme fee and the processor’s markup. This gives you a clearer view of what you’re paying for.

Our guide to interchange fees in Singapore explains both models in more detail. Ask providers which pricing model suits your transaction volume and whether you can change it later.

Check which currencies you can settle in

Some processors convert foreign payments into Singapore dollars before paying you. Others let you receive and hold the original currency. If you pay suppliers in USD or EUR, holding those currencies can help you avoid converting the money twice.

Ask which currencies each provider supports for settlement and whether you need a separate bank account for each currency.

Check how quickly you’ll get paid

Payout timing affects how much cash you have available to run your business. It can vary by provider and payment method, so ask how long card payments take to reach your bank account and whether PayNow payments follow a different schedule.

Compare refund and dispute fees

When a customer disputes a payment with their bank, you may face a chargeback fee and lose the disputed amount while the case is reviewed. Some processors also retain the original processing fee when you issue a refund.

Ask what each provider charges for refunds and chargebacks, and what tools it offers to help you manage disputes.

Check licences, security and contract terms

Confirm that the provider is appropriately licensed or authorised to offer its services in Singapore, and check its PCI DSS compliance if you’ll accept card payments.

Before signing up, ask about setup fees, monthly minimums, contract length and early termination fees. These terms can affect your overall costs just as much as the transaction rate.

How to reduce payment processing fees

You may not be able to control every fee your payment processor charges, but a few changes can reduce your costs over time. Here are four ways to start.

Negotiate the processor’s markup

Interchange fees are set by card-issuing banks, while card networks set scheme fees. You generally can’t negotiate these directly with your processor, but you may be able to negotiate its own markup.

If you process a consistent volume of transactions, ask whether you qualify for a lower rate or customised pricing.

Reduce currency conversion costs

Converting money between currencies can add costs, especially if you convert the same funds more than once. If you receive revenue and pay suppliers in USD, for example, holding and spending USD directly can help you avoid unnecessary conversions.

Want to hold multiple currencies? Airwallex lets you hold 20+ currencies in one account to save on FX fees.

Offer lower-cost payment methods

Payment methods such as PayNow may cost less to process than card payments, depending on your provider and plan. If your customers are comfortable using PayNow, make it easy to find at checkout.

Prevent chargebacks

A chargeback can mean losing the disputed sale while also paying a dispute fee. Clear refund policies, accurate product descriptions and prompt customer support can help prevent avoidable disputes.

Tools such as 3D Secure, which asks customers to authenticate certain card payments with their bank, can also help reduce fraud-related chargebacks. Keep order confirmations, delivery records and customer correspondence so you can provide evidence if a dispute arises.

Why Singapore businesses choose Airwallex for payment processing

Airwallex is useful for Singapore businesses that sell internationally or pay suppliers and contractors overseas. It brings payment collection, multi-currency balances and international transfers together, so you can manage incoming revenue and overseas expenses in one place.

Here’s what you can do with Airwallex:

Hold the currency you receive

Airwallex supports like-for-like settlement in 14 currencies. If a customer in the US pays you in USD, you can receive and hold those funds in USD instead of automatically converting them to SGD.

This is particularly useful if you also pay US suppliers or cover other expenses in USD. You can use your USD balance directly, avoiding unnecessary currency conversions.

Accept 160+ local payment methods

Airwallex supports 160+ payment methods across 180+ countries, including PayNow in Singapore, Alipay in China, ACH direct debit in the US and Pay by Bank in the UK. Offering familiar payment methods can make it easier for customers in different markets to pay you.

Pay overseas suppliers and contractors in 200+ countries

Send international transfers to suppliers and contractors in 200+ countries. 94% of our transfers go through local rails with $0 transfer fees.

Frequently asked questions (FAQs)

What is the best online payment processor for a business in Singapore?

The right payment processor depends on how you sell, where your customers are and how you want to receive your money. Compare transaction fees, payout times, settlement currencies and dispute fees before choosing a provider. Airwallex, for example, offers competitive rates that save you up to 80% on FX fees as compared to traditional banks and has no monthly fees on its free Explore plan.

What fees does an online payment processor charge?

Most processors charge a percentage of each transaction, sometimes with an additional fixed fee. You may also pay extra for international card payments, currency conversion or chargebacks. Some providers have monthly minimums or other account fees, so check the full fee schedule before signing up.

Does an online payment processor in Singapore need a MAS licence?

Payment services in Singapore are regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act. Whether a provider needs a licence depends on the services it offers and any applicable exemptions. Check the MAS Financial Institutions Directory to verify a provider’s regulatory status.

What happens when a customer files a chargeback?

Your processor may deduct the disputed amount and charge a dispute fee while the case is reviewed. You can challenge the chargeback by submitting evidence such as order records, proof of delivery and customer correspondence. If the dispute is resolved in your favour, the disputed amount is generally returned, but whether the fee is refunded depends on the provider.

Do online payment processors charge a monthly fee?

Not always. Some providers charge only per transaction, while others may have monthly fees, minimum billing requirements or additional account charges. Check the provider’s fee schedule and contract terms to understand what you’ll pay.

Do I need an online payment processor if I sell on a marketplace?

Usually, no. Marketplaces such as Amazon and Etsy generally handle customer payments and pay sellers after deducting applicable fees. If you also sell through your own website or app, you’ll typically need a payment processor to accept payments directly.

Sources:

1. https://www.pwc.com/sg/en/publications/assets/page/pwc-sg-digital-payments-2025.pdf

2. https://worldpay.globalpaymentsreport.com

3. https://www.statista.com/statistics/1111233/payment-method-usage-transaction-volume-share-worldwide/

4. https://www.airwallex.com/newsroom/cross-border-ecommerce-2024-report

5. https://docs.adyen.com/online-payments/

6. https://www.paypal.com/sg/business

7. https://help.shopify.com/en/manual/payments/shopify-payments/supported-countries/singapore

8. https://stripe.com/en-sg

9. https://www.checkout.com/sg

10. https://www.hitpayapp.com/pricing

11. https://www.2c2p.com/