Annual number of credit card transactions in Singapore 2013-2021, per capita
Credit cards ranked as Singapore's most used in-store payment method, for example, but they were slowly losing terrain to mobile wallets. In 2020 , Singapore had the highest penetration rate for cashless payments in Southeast Asia.
Credit card payments in Singapore grew by nearly 100 million transactions in 2021, as the per capita use also grew. The payment method plays a significant role and is part of a much wider movement of payment digitalization.