10 best online payment systems in Singapore (2026 Guide)

Key Takeaways:

• Online payment systems are the software that lets your business accept and process digital payments: from the moment a customer clicks "pay" to the moment funds reach your account.

• The provider you choose affects your transaction fees, the payment methods you can accept, and your ability to sell to customers in other countries.

• Airwallex goes beyond payment acceptance — it combines a payment gateway, multi-currency accounts, Corporate Cards, and Expense Management into one platform built for global businesses.

There's no shortage of online payment systems available to Singapore businesses, and picking the right one is one of the more important decisions you'll make. The wrong choice costs you in fees, limits the markets you can reach, and creates friction at checkout that drives customers away.

This guide compares 10 providers side by side — fees, features, and who each one suits — so you can make a clear, informed decision for your business.

What is an online payment system?

An online payment system is software that allows your business to accept and process digital payments over the internet. It acts as the bridge between your customer's payment method — whether that's a card, digital wallet, or bank transfer — and your business account.

Most modern payment systems bundle together several components:

• A payment gateway (which captures and encrypts payment data)

• A payment processor (which handles authorisation and fund transfer)

• A merchant account to hold settled funds

Some providers, like Airwallex, combine all of these into a single platform.

Online payment systems typically support:

• Credit and debit cards (Visa, Mastercard, Amex)

• Digital wallets (Apple Pay, Google Pay, GrabPay, ShopeePay)

• Local payment methods (PayNow, Alipay, WeChat Pay)

• Buy Now, Pay Later (BNPL) options (Atome, Klarna)

• Bank transfers

4 types of online payment systems

There are four main integration types. The right one depends on your technical setup and how much control you want over the checkout experience.

1. Hosted payment pages

The customer is redirected to a third-party checkout page to complete payment, then returned to your site.

This option is easy to set up and PCI-compliant out of the box, but the redirect can interrupt the checkout flow and increase cart abandonment. It suits businesses that want to start accepting payments quickly with minimal technical work.

2. Self-hosted checkout

Payment is completed directly on your own website, giving you full control over the checkout experience and branding. That control comes at a cost — this option requires more technical setup and puts greater responsibility on you for PCI DSS compliance.

This works best for businesses with in-house development capability.

3. API-based integration

With this option, your development team builds a fully custom checkout using the provider's API. This gives you the most flexibility — one-click payments, custom flows, mobile-first experiences — but it requires developer resources, ongoing maintenance, and a higher level of technical expertise. You also take on greater responsibility for PCI DSS compliance.

4. Payment links

Payment links let you collect payments without a website or any code. You generate a link and share it via email, WhatsApp, or social media, and customers click through to pay. This is ideal for freelancers, service businesses, or anyone who needs to collect one-off payments quickly.

Online payment systems in Singapore: fees compared (2026)

The table below compares blended transaction rates for domestic card payments in Singapore, unless otherwise stated. Rates shown are standard published rates — most providers offer volume discounts for high-transaction businesses.

The information in this table has been reviewed to be accurate as of 30 March 2026.

A note on pricing models:

• Adyen uses interchange++ pricing exclusively — this means your effective rate varies by card type and transaction, but is generally more cost-effective at higher volumes than blended pricing.

• Checkout.com offers both flat-rate and interchange++ options depending on your business profile.

• All other providers above use blended (flat-rate) pricing as their standard model.

1. Airwallex

Most payment systems stop at the checkout. Airwallex goes further — combining payment acceptance, multi-currency accounts, corporate cards, and expense management into one platform.

The standout feature is like-for-like settlement in 20+ currencies: when a customer pays you in USD or GBP, you can hold those funds in the same currency without converting back to SGD. Pair that with Global Accounts that give you local currency accounts in 21 countries, and collecting overseas revenue starts to feel like collecting domestic revenue.

Payments is available on the free Explore plan. This lets you accept 160+ payment methods across 180+ countries — including GrabPay, PayNow, WeChat Pay, and Alipay — and integrate with Xero, QuickBooks, Shopify, and WooCommerce.

The information in this table has been reviewed to be accurate as of 30 March 2026.

2. Adyen

Adyen is built for enterprises — large retailers, platforms, and global businesses that need a single integration across many markets.

Unlike most providers on this list, Adyen uses interchange++ pricing exclusively, meaning your rate varies by card type and transaction but reflects the actual cost of each payment rather than a fixed markup. This is typically more cost-effective at high transaction volumes than blended pricing.

Adyen has no setup fees, monthly fees, or closure fees, though a minimum invoice applies depending on your industry and business model.¹ It supports Singapore and charges a fixed processing fee of US$0.13 per transaction, plus the payment method fee — for example, GrabPay online is US$0.13 + 2.8%.¹ Custom pricing is available for businesses with significant volume.¹

The information in this table has been reviewed to be accurate as of 30 March 2026.

3. Braintree

Braintree is PayPal's developer-focused payment platform, designed for businesses that want deep customisation and broad payment method support. It's a strong choice if PayPal wallet acceptance is important to your checkout — Braintree handles PayPal, Venmo, cards, Apple Pay, and Google Pay through a single API integration, across 200+ markets.¹

For Singapore merchants, the standard rate is 3.4% + S$0.50 per transaction. An additional 1% fee applies when the transaction is presented outside your home currency, and a further 1% if currency conversion is involved. Volume discounts are available for businesses processing over S$110,000 per month.

The information in this table has been reviewed to be accurate as of 30 March 2026.

4. Checkout.com

Checkout.com is a strong contender for mid-market and enterprise businesses that want pricing flexibility and granular payment data. It offers both flat-rate and interchange++ pricing structures depending on your business profile.

Checkout.com doesn't publish standard rates, as pricing is tailored to your business volume, risk category, and markets. There are no setup fees, account maintenance fees, or surprise fees, and dedicated account management is included. It operates in 150+ currencies and has domestic coverage in 45+ countries.

The information in this table has been reviewed to be accurate as of 30 March 2026.

5. 2C2P

2C2P is a Singapore-headquartered payments platform built specifically for Southeast Asia. It's the most SEA-native provider on this list, which is useful if your business is expanding into markets like Thailand, Indonesia, Vietnam, or the Philippines, where card penetration is low and local payment methods matter most.

Beyond online payments, 2C2P supports over-the-counter cash payments at 600,000+ locations across Asia, helping you reaching unbanked or underbanked customer segments in the region. It also supports instalment payment options, card issuing, and payouts. Pricing is custom and requires direct contact with their sales team.

The information in this table has been reviewed to be accurate as of 30 March 2026.

6. HitPay

HitPay is a Singapore-built payment platform aimed at local SMEs, F&B businesses, and retailers. It's MAS-licensed as a Major Payment Institution and covers the full range of local payment methods — PayNow, GrabPay, ShopeePay, Atome, and more — with no monthly fee or setup cost.

Pricing is pay-per-transaction. Domestic card payments cost 2.8% + S$0.50, international cards 3.65% + S$0.50, and PayNow 0.65% + S$0.30 for transactions above S$100.¹ Fraud monitoring and dispute management are included at no extra charge.

HitPay also offers point-of-sale hardware, recurring billing, payment links, and eCommerce integrations with Shopify, WooCommerce, and Wix.

The information in this table has been reviewed to be accurate as of 30 March 2026.

7. Nuvei

Nuvei is an enterprise-grade payments platform with one of the broadest payment method libraries available: 720+ methods across 200+ markets, with local acquiring in 50 markets and support for 150 currencies.¹ It's designed for large, complex businesses that need payment orchestration, advanced fraud management, and high-volume optimisation across multiple regions.

Pricing is fully custom and not published. Nuvei's platform includes intelligent transaction routing, 3D Secure optimisation, chargeback resolution tools (including Visa RDR and Mastercard Ethoca integrations), and an analytics dashboard. It also supports cryptocurrency payments, card issuing, and embedded banking services. Nuvei operates on Microsoft Azure infrastructure with a target of 99.999% uptime.¹

The information in this table has been reviewed to be accurate as of 30 March 2026.

8. PayPal

PayPal is one of the most widely recognised payment brands in the world, which gives it a specific advantage: customers already trust it. For businesses selling to consumers who may be hesitant to enter card details on an unfamiliar site, having a PayPal checkout option can meaningfully improve conversion.

For Singapore merchants using PayPal's Online Card Payment Services, the standard rate for advanced credit and debit card payments is 3.40% + a fixed fee per transaction. Standard commercial transactions carry a rate of 3.90% + a fixed fee. International transactions attract an additional 0.70% on top of the domestic rate, and currency conversion is charged at 3% above the base exchange rate.

The information in this table has been reviewed to be accurate as of 30 March 2026.

9. Shopify Payments

Shopify Payments is the built-in payment solution for Shopify merchants. If you're already on Shopify, it's the most straightforward way to accept payments: there are no additional transaction fees when using Shopify Payments, and your sales, inventory, and payment data all live in one dashboard.

The card rate is tied to your plan: Basic (S$29/month) charges 3.2% + S$0.50 online; Grow (S$99/month) charges 3.1% + S$0.50; and Advanced (S$399/month) charges 3% + S$0.50.¹ If you use a third-party payment provider instead, Shopify charges an additional fee of 2%, 1%, or 0.6% depending on your plan.¹ Shopify Payments is certified Level 1 PCI DSS compliant.¹

The information in this table has been reviewed to be accurate as of 30 March 2026.

10. Stripe

Stripe is the go-to payment platform for developers and tech-forward businesses. Its API documentation is among the best in the industry, and it supports 100+ payment methods with a single integration, making it a practical choice for businesses that want to build a fully custom checkout or expand globally without juggling multiple providers.

For Singapore merchants, the standard rate is 3.4% + S$0.50 per domestic card transaction, with no setup or monthly fees. International cards carry an additional 0.5%, and currency conversion adds 2%. Local methods include PayNow at 1.3%, GrabPay at 3.3%, and Alipay or WeChat Pay at 2.2% + S$0.35. Stripe's fraud prevention tool, Radar, is included at no extra cost on standard pricing.⁹

The information in this table has been reviewed to be accurate as of 30 March 2026.

How to choose the right online payment system for your business

No single provider is the right fit for every business. The right choice depends on your transaction volume, the markets you sell into, and what you need beyond basic payment acceptance. Here are the most important factors to weigh.

1. Transaction fees and pricing model

Start with fees, but look beyond the headline rate. A provider with a low per-transaction rate may charge extra for currency conversion, chargebacks, or integrations that quickly close the gap. If your volume is high, interchange++ pricing (Adyen, Checkout.com) is worth considering. If you prefer predictability, blended pricing (Stripe, HitPay, Airwallex) is easier to budget for.

For a detailed breakdown of what to look for in a payment processor's fee structure, see our guide to key payment processor features.

2. Local payment methods

In Singapore, customers expect to pay via PayNow, GrabPay, and ShopeePay. If you're selling cross-border into SEA markets, local method coverage matters even more — WeChat Pay and Alipay for China, QR-based wallets for Thailand and Indonesia.

Check that your provider supports the specific methods used in each market you operate in, not just the global defaults.

3. International reach

If you collect payments from overseas customers, ask whether your provider lets you hold funds in foreign currencies or forces conversion at every step.

Unnecessary conversions add up quickly. Look for providers that offer multi-currency accounts or like-for-like settlement — this is especially relevant for businesses with customers in the US, UK, Europe, or across the rest of Asia.

4. Integration with your existing tools

Your payment system should fit into your existing setup, not require you to rebuild around it. Check for native integrations with your eCommerce platform (Shopify, WooCommerce, Magento) and accounting software (Xero, QuickBooks, NetSuite).

The easier the connection, the less time you spend on manual reconciliation.

5. Sales channels

If you sell both online and in person, look for a provider that handles both — or at least gives you a clear path to in-person payments without switching systems. HitPay and Shopify Payments both offer point-of-sale hardware alongside their online solutions.

How to reduce online payment processing fees

Payment fees are unavoidable — but they're also manageable. Here are practical ways to keep costs down without sacrificing the quality of your checkout experience.

1. Get clear on what you actually need

Before comparing providers, map out your transaction profile. How many transactions do you process per month? What's your average order value? How much of your revenue comes from overseas customers? The answers will tell you whether a flat-rate provider or an interchange++ model works out cheaper for your business specifically.

2. Choose a provider that matches your volume

Flat-rate pricing is simple and predictable at low volumes. As your volume grows, interchange++ pricing typically becomes more cost-effective because you're paying the actual cost of each transaction rather than a blended markup.

3. Avoid unnecessary currency conversions

If you regularly receive payments in foreign currencies, every forced conversion back to SGD costs you money.

Look for a provider that lets you hold funds in multiple currencies and settle like-for-like. This is one of the most overlooked sources of savings for businesses with international customers.

4. Use local payment methods where possible

Local payment methods like PayNow are typically cheaper to process than international card transactions. Where your customers are willing to use local methods, offering them actively reduces your processing costs.

5. Reduce chargebacks

Chargebacks cost you the disputed amount plus a per-dispute fee — and they damage your standing with payment networks if they happen frequently.

Strong fraud prevention — including 3D Secure, real-time fraud detection, and pre-chargeback programmes — reduces disputes before they become chargebacks. Most providers on this list offer these tools; check whether they're included or charged separately.

6. Review your provider regularly

Pricing changes. New providers enter the market. Your transaction profile evolves as your business grows. Set a reminder to review your payment setup at least once a year to make sure you're still on the most competitive terms for your current volume and needs.

Frequently asked questions (FAQs)

What is the difference between a payment gateway and an online payment system?

A payment gateway is one component of a broader online payment system — it captures and encrypts your customer's payment details and sends them to a payment processor. An online payment system refers to the full infrastructure that handles the entire transaction, from checkout to fund settlement. Some providers, like Airwallex, bundle both into a single platform. For a detailed breakdown, see our guide to payment gateways vs payment processors.

Are online payment systems safe?

Yes, reputable online payment systems use multiple layers of security to protect your customers' data. Look for providers that are PCI DSS compliant, use end-to-end encryption and tokenisation, and offer real-time fraud detection. Every provider on this list meets PCI DSS standards. If a provider cannot confirm PCI DSS compliance, treat that as a red flag.

Do I need a merchant account to accept online payments in Singapore?

Not necessarily. Airwallex acts as an acquirer and combines the payment gateway, processor, and merchant account into a single Business Account, removing the need to manage these separately. Other providers such as Stripe, HitPay, and PayPal are payment aggregators, meaning they group you under a shared merchant account so you can start accepting payments without setting up your own.

How long does it take to set up an online payment system?

It depends on the provider and integration method. Payment links and hosted checkout pages can be live within hours — some providers allow you to start accepting payments the same day you sign up. API-based integrations that require developer work typically take days to weeks. Enterprise providers like Adyen and Nuvei involve a more thorough onboarding and approval process that can take longer.

Can I use more than one online payment system at the same time?

Yes, and some businesses do — for example, using one provider for online card payments and another for in-person transactions. That said, running multiple providers adds complexity to your reconciliation and reporting. Most modern platforms cover enough payment methods and channels that a single provider is sufficient for the majority of Singapore businesses.

Sources:

1. https://www.paypal.com/sg/webapps/mpp/merchant-fees

2. https://www.shopify.com/sg/pricing

3. https://stripe.com/sg/pricing

4. https://www.adyen.com/pricing

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.