Stripe payment in Singapore: What it is and how to use it

Key takeaways:

• Stripe has operated in Singapore since 2016. They provide a payment processing platform that lets businesses accept payments online and in-store.

• If you're in Singapore, you'll pay from 3.4% + S$0.50 onwards per successful card transaction.¹

• Stripe doesn’t let you hold or manage funds in multiple currencies, but Airwallex does. With Airwallex, you can receive, hold, and pay out in 20+ currencies, avoiding unnecessary conversions and reducing FX costs.

If you're searching for payment gateway services, you may have heard of Stripe. Since launching in Singapore in 2016, Stripe has helped businesses like yours accept payments online and in-store.

In this article, we’ll discuss everything you need to know about Stripe payments in Singapore – how it works, its features, and fees. We'll also explore other payment platforms and discuss how Airwallex helps you reduce foreign exchange fees when you accept international payments.

What is Stripe?

Stripe is a payment processing platform that lets you accept online and in-person payments through your website, app, eCommerce marketplace, or physical store. It supports 135+ currencies² and 100+ payment methods including cards, digital wallets, and local options like PayNow.

You can collect one-time or recurring payments securely, and your customers can pay using major debit and credit cards, digital wallets like Apple Pay and Google Pay, and local payment methods. If you have a physical store, Stripe offers point of sale (POS) systems and card readers to accept in-person transactions.

Stripe's ecosystem is built around three key components: its payment gateway, APIs, and developer tools.

Payment gateway

The payment gateway is what lets your business accept and process payments in Singapore and overseas. Stripe's payment gateway includes fraud protection, automatic currency conversion, and customisable checkout interfaces.

APIs

Stripe's other core product is its APIs: these let developers connect the payment gateway with your eCommerce platform, mobile app, payment methods, and other services.

Developer tools

Stripe also offers developer tools that simplify integration and management. This makes it easier for your developers to debug and test how Stripe integrates into your website or app.

How does Stripe work in Singapore?

In Singapore, Stripe works as an end-to-end payments platform, covering everything from online checkout and recurring billing to in-store payments and data analysis.

• Payment gateway: This is the virtual system that securely collects customer payment information – think of it as a digital card terminal for eCommerce stores. Stripe's payment gateway includes customisable user interfaces and checkout optimisations.

• Payment processing: The system that manages secure fund transfers. It verifies transaction details, confirms available funds, and authorises transfers from customer accounts to your business account.

• Subscription management: Tools that let you collect recurring payments through various payment methods. The APIs support custom billing logic for pricing models like flat rates or per-seat billing.

• Invoicing: Generate branded invoices with Stripe-hosted payment pages. Your clients can pay using cards, bank transfers, and other payment methods.

• Stripe Terminal: Card readers and POS terminals for brick-and-mortar stores, supporting magstripe cards with customisable welcome screens and feedback collection.

• A/B testing: You can test new payment methods with small customer segments to see how they impact your conversion rates and average order value.

• Stripe Sigma: A custom analytics tool that uses SQL queries to pull insights from your payment data – things like customer behaviour patterns and return likelihood.

• Stripe Connect: A toolkit for marketplaces and platforms to handle payment routing among sellers, customers, and recipients.

• Stripe Link: Automatically fills in customer payment information during checkout.

What are the benefits of using Stripe?

Whether you're a small business or a large corporation, here's why you might consider Stripe:

• Complete payment system. Stripe gives you a complete payment system with access to 100+ international payment methods. It also gives you one system that supports both retail and eCommerce sales channels.

• One dashboard for online and in-person payments. Stripe pulls all your transaction data into one place. This lets you easily monitor, analyse, and reconcile your transactions across online and offline channels without switching systems.

• Fully customisable interfaces and payment logic. If you want full control over your checkout experience and payment flows, you'll appreciate Stripe's extensive developer tools, documentation, and APIs.

• Simple pricing structure. Pay-as-you-go pricing means you pay for what you use, without any hefty upfront fees or long-term commitments.

• Strong security measures. No provider can guarantee perfect payment security, but Stripe has some of the strongest safeguards available. Security measures like TLS (SSL) encryption come standard with every account at no additional cost.

What payment methods does Stripe support in Singapore?

If you're in Singapore, Stripe lets you accept payments through a wide variety of methods. Here are the four key payment methods that Stripe supports:

1. Credit and debit cards

Stripe supports all major card networks, including Visa, Mastercard, and American Express.

2. Digital wallets

Customers can pay using Apple Pay and Google Pay for faster, more convenient checkouts.

3. Local payment methods

Stripe supports PayNow, Singapore’s real-time payment system for direct bank-to-bank payments.

4. Bank payments

Businesses in Singapore can accept payments directly from customers’ bank accounts using PayNow (QR or PayNow ID) or iBanking redirects, where customers are taken to their online banking to approve the payment securely.

Stripe's fees and charges

Stripe uses a transparent pay-per-use pricing approach: you pay for each transaction, and fees are automatically deducted from your payout. There are no sign-up, subscription, or administration fees. For high transaction volumes or unique business models, Stripe also offers custom pricing.

Stripe offers two ways to calculate fees: interchange++ pricing and blended pricing.

Interchange ++ pricing

Interchange ++ pricing is a model that breaks down the cost of credit card processing into three parts: an interchange fee for the card issuer, a card scheme fee for the card network, and a markup for the payment gateway.

This gives merchants full transparency by offering a breakdown of the costs incurred for each card transaction. However, as the interchange fee changes with each transaction, the total cost varies.

Blended pricing

Blended pricing charges a fixed fee for each transaction, which covers all processing costs. No matter how the transaction is processed, you'll always pay this fee.

The table below looks at Stripe's blended pricing compared to Airwallex's:

The information in this table has been reviewed to be accurate as of 28 January 2026.

How to get started with Stripe

Here's a quick look at how to set up a payment gateway. For more details, check out Stripe's support page and developer documentation⁷.

Step 1: Create and activate your account

Sign up for free and provide identifying documents for your business. This meets Know Your Customer (KYC) regulations and Singapore's Payment Services Act.

Step 2: Choose your payment acceptance method

Use no-code solutions like payment links, invoices, or Tap to Pay mobile app, or integrate Stripe into your website through eCommerce plugins or custom development.

Step 3: Add a bank account for payouts

Go to "Bank Accounts and Currencies", click "+ Manage Currencies", select SGD or USD, and add your bank account details.

Step 4: Configure payout schedule

Set up manual payouts or schedule weekly/monthly automatic transfers in the Dashboard's Balances section. Note: Your first payout will be available seven to 14 days after adding your bank account and receiving your first payment⁸.

Comparing Airwallex vs Stripe vs PayPal in Singapore

Here's a quick look at the differences between Airwallex, Stripe and PayPal:

The information in this table has been reviewed to be accurate as of 28 January 2026.

Airwallex vs PayPal

PayPal's payment gateway is easy to implement, and customers trust the PayPal brand. But the off-site checkout can disrupt the customer experience.

If you've ever paid through PayPal for an eCommerce purchase, you know the checkout redirects you to a PayPal-branded page. In contrast to this, Airwallex integrates directly with eCommerce platforms, so your customers can check out without leaving your website. You can also customise the checkout experience to match your shop's branding and design.

When it comes to prices, PayPal's seller fees are complex and vary according to the seller's or buyer's region. On the other hand, Airwallex offers simpler, more transparent pricing, with FX margins typically as low as 0.4%–0.6% above the interbank rate for international transfers.

Airwallex vs Stripe

Airwallex is a fintech platform that simplifies global payments for businesses. Unlike Stripe, we have more to offer than a payment gateway. Our core product is an all-in-one Business Account with Global Accounts that let you receive and hold in multiple currencies. We also partner with local payment rails in 120+ countries so your international money transfers bypass SWIFT, and 93% of transactions arrive on the same day.

Airwallex's Payment Gateway lets you accept payments from 160+ payment methods (as compared to Stripe’s 100+ methods²). Plus, with Airwallex, you can accept and hold 20+ currencies without automatic conversion to SGD, which lets you avoid unnecessary conversion fees. Stripe only offers like-for-like settlement in USD, and only if you connect a USD bank account⁶.

Use Airwallex to accept global payments without unnecessary conversion fees

Stripe supports a wide range of payment methods and currencies, and it’s a versatile payment gateway with strong API capabilities and extensive customisation options. However, it’s not built to handle the broader complexities of cross-border payments, which is a key consideration for many businesses today.

Think about it: In today’s business environment, it’s highly likely that you’re paying overseas suppliers, running international advertising campaigns, or serving customers in multiple markets. If your payment setup isn’t built for this, managing multiple currencies, settlement timelines, and FX costs can be tricky and inefficient.

This is where Airwallex stands out. Built specifically for cross-border payments and multi-currency management, Airwallex allows businesses to receive, hold, and pay out funds in multiple currencies. With like-for-like settlement in 20+ currencies, you can avoid unnecessary conversions back into SGD, helping to reduce FX costs and maintain better control over cash flow.

Want to see how it works in practice? Here's how Singapore businesses like yours use Airwallex to reduce gateway fees and accept payments globally.

Frequently asked questions (FAQs)

What types of payments does Stripe accept?

Stripe supports a wide range of payment methods such as major credit and debit cards, digital wallets like Apple Pay, bank transfers, direct debits, and local payment methods like PayNow in Singapore.

Is Stripe the same as PayPal?

Stripe and PayPal are both payment processing platforms, but they have different features and target audiences.

Stripe has customisable payment solutions that integrate seamlessly into websites and apps, making it ideal for eCommerce businesses looking to maintain a cohesive brand experience. On the other hand, PayPal is recognised for its consumer-friendly interface and trusted branding. Its payment gateway requires no coding, making it ideal for small businesses with limited developer resources.

Is Stripe payment legit?

Yes, Stripe is a legitimate and highly reputable payment processing service used by hundreds of businesses. It has a robust security infrastructure that complies with Payment Card Industry Data Security Standard (PCI DSS) and uses encryption to protect transaction data. Additionally, Stripe continuously monitors and manages potential vulnerabilities through regular security assessments and upgrades.

Is it safe to link my bank account to Stripe?

Yes, Stripe implements strict security measures including employee monitoring, continuous threat detection, and compliance with PCI DSS standards to protect your linked account information.

Sources: 

1. https://stripe.com/en-sg/payments/link

2. https://stripe.com/en-sg/payments

3. https://www.airwallex.com/sg/terms/fee-schedule 

4. https://stripe.com/en-sg/pricing

5. https://docs.stripe.com/security/guide

6. https://docs.stripe.com/payouts/multicurrency-settlement?account-country=SG

7. https://support.stripe.com/topics/getting-started 

8. https://support.stripe.com/questions/waiting-period-for-first-payout-on-stripe 

This publication does not constitute legal, tax, or professional advice from Airwallex nor 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.