Online payment gateways allow you to smoothly authorize and authenticate transactions between customers and your business. By enabling users to make credit card payments, payment gateways play a crucial role in making or breaking your omnichannel experience. If you are running a retail business in Singapore, here are the top 5 Singapore payment gateways you should consider.
SmoovPay is a local payment gateway based in Singapore that offers very competitive rates. If your target audience is Singaporean shoppers, this could be a viable option for you. The payment platform distinguishes itself with 3D authentication where users get redirected to a page for One-Time Password (OTP) acknowledgement.
Having only been launched in 2016, Stripe is among the best Singapore payment gateways. This payment service provider offers a direct payment gateway that allows your customers to remain on your store page where credit card payments are conducted. This eventually enables merchants to craft their payment flow by creating their own checkout experience.
When it comes to the best Singapore payment service provider, PayPal is a great choice offering both recurring and one-time payment options to customers. It has long been the leader in offering fast and secure transactions for many enterprises until today. Whether you run an online store with shoppers from Singapore or abroad, PayPal can help boost the credibility of your store and improve lead conversions.
Another Singapore payment gateway that is worth noticing is Adyen. This is a global multichannel payment service provider that allows retailers to accept and provide payments globally. Though Adyen is targeted at fast-growing enterprises, it is still an ideal option for entrepreneurs and startups.
eNETS is also known to be one of the leading and most trusted payment gateways in Singapore. What makes eNETS stand out from others is that money will be credited directly into your bank account. If your business model requires direct debit support, you’ll want to go with eNETS since it is the only payment gateway in Singapore to support this kind of payment.
Choosing the right payment gateway option is essential to e-commerce retailers as it is one of the most crucial steps in every customer journey. We hope that this article has given you a great overview of the 5 best Singapore payment gateways that will significantly boost your online business.
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