COVID-19 Driving Increase in Digital Payments in Singapore

Source: ATM Marketplace

Singapore residents are increasingly adopting digital payments due to the COVID-19 pandemic, according to a GlobalData report. The report estimates total card payments will grow by 2.5 percent to $85.3 billion while cash withdrawals at ATMs will decline by 3.4 percent in 2020.

Big banks and large merchants have helped made contactless payment solutions mainstream, and most retailers now accept contactless cards.