7 Best Payment Gateways in Singapore that will Cost you Less Money and Effort

ashbiha March 12, 2021 0 Comments

Digital payments are becoming a big part of everyone’s life and finding the best payment gateway for your small business is also important. There are a lot of payment gateways around the world, yes. But the ones that are affordable and easy to use, not so much. 

To show the value of digital payments

A business needs to have a secure and reliable payment gateway because if not, it is going to affect your sales and your business. If you are a small retailer or own a small business and looking to switch to digital payment methods, you’re in the right place. We have tried our best to list out the best payment gateways in Singapore that will be suitable for everyone.

Top 7 Payment Gateway options to use in Singapore:

Paypal (Global Payment Gateway):

Paypal is one of the most trusted and well-known payment gateway around the world. So it’s safe to say that the experience with Paypal will be very easy and secure. 

It allows the users to make transactions in 2 ways: Paypal Express and Paypal Standard. The option Paypal Express is for quick payments that have to be done as quickly as possible. Paypal Standard is a slow transaction mode where one has to enter all kinds of information before getting ready to send the payment. 

Red Dot Payment:

Red Dot Payment is headquartered in Singapore itself and offers a range of payment gateway services for businesses. It allows the user to choose from the different range of payment modes available including both cards and non-cards.

Stripe:

Stripe was launched in 2016 in Singapore and is well-known for its reliable and flexible features. It is being used by some big brands and names like Kickstarter and Deliver but is also suitable for small businesses.

Asia Pay (Asian Payment Gateway):

Being one of the most used payment gateways in Asia, Asia Pay accepts payments using Cards and other modes such as Paypal, China Unionpay, and Alipay. The user can use Asia Pay in different currencies, different languages, and multiple cards.

Brain Tree:

Brain Tree is a part of the global payment gateway, PayPal. It offers multiple payment methods such as cards (Visa, Mastercard, etc.), Apple pay, Union pay, and Android pay. Braintree provides the users with workable prices that make it easier for them.

eNets:

eNets can be considered as not so easy to set up for payments. The payment gateway requires a merchant bank account and takes about 6 weeks to complete the integration process. Although it is a tedious process, it accepts all major credit cards for payments.

Liquid Gateway:

Liquid Gateway is another Singapore-based payment gateway that offers a very low transaction fee compared to most of the payment gateways. It will be suitable and reliable for all businesses in Singapore who don’t wanna do or deal with any complicated procedures and fee structures. 

Payment Gateways:PayPalRed Dot PaymentStripeAsia PayBrain TreeeNetsLiquid Gateway
Set-up feeNo Set-up Cost1 time Set-up costNo set-up feeQuote Based FeeNo Set-up feeSet-up fee requires and variesNo Set-up fee
Transaction FeeS$0.50 Transaction Fee on every transfer3% + S$0.30 transaction fee on for credit card3.4% + $0.50 fixed transaction fee2.6% + RM 1.50 per transaction3.4% + $0.50 transaction fee3.5 to 4% transaction fee2.9% + $0.50 transaction fee
Accepted Payment MethodsCards and PaypalCards and Non-Cards Credit Cards and BitcoinsCards and other modesCredit cards and other modesAll Major Credit cardsCards and other modes
IntegrationSimple signup by creating a business account with emailAn application process to integrate your business which takes about 3 working daysRequires a certain expertise or a developer to customize the payment APISign up process that can be integrated to multiple channelsHas 2 ways of integration.1. A quick signup2. Improved integration with some expert helpAlmost a long application process for a much more tedious integrationA simple sign up process and the company will guide through the rest

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