7 Best Payment Gateways in Singapore that will Cost you Less Money and Effort
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.
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 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 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 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 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:||PayPal||Red Dot Payment||Stripe||Asia Pay||Brain Tree||eNets||Liquid Gateway|
|Set-up fee||No Set-up Cost||1 time Set-up cost||No set-up fee||Quote Based Fee||No Set-up fee||Set-up fee requires and varies||No Set-up fee|
|Transaction Fee||S$0.50 Transaction Fee on every transfer||3% + S$0.30 transaction fee on for credit card||3.4% + $0.50 fixed transaction fee||2.6% + RM 1.50 per transaction||3.4% + $0.50 transaction fee||3.5 to 4% transaction fee||2.9% + $0.50 transaction fee|
|Accepted Payment Methods||Cards and Paypal||Cards and Non-Cards||Credit Cards and Bitcoins||Cards and other modes||Credit cards and other modes||All Major Credit cards||Cards and other modes|
|Integration||Simple signup by creating a business account with email||An application process to integrate your business which takes about 3 working days||Requires a certain expertise or a developer to customize the payment API||Sign up process that can be integrated to multiple channels||Has 2 ways of integration.1. A quick signup2. Improved integration with some expert help||Almost a long application process for a much more tedious integration||A simple sign up process and the company will guide through the rest|