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Which Is The Best Payment Gateway in Singapore [2025]

Sanjeed V K

07.03.25

Read time 7 minutes

Payment gateways play a huge role in facilitating payments for businesses where transactions need to be smooth and secure. For ecommerce business owners in Singapore in particular, choosing the right payment gateway is key—especially when dealing with customers who have different payment preferences.

If you’re searching for a payment gateway, Singapore has a good selection to choose from, though it can take some time and attention to understand their similarities and differences. In this review, we’ll take a look at the top payment gateway providers in Singapore for 2025, examining their fees, features, and supported payment methods, so that you have a clear understanding of what’s on offer.

We’ll also explore the utility of Wise Business in facilitating cost-effective international transactions.

Table of contents
What is a payment gateway? Comparing the top 7 payment gateway providers in Singapore Airwallex PayPal Stripe Adyen Shopify Payments Opn Payments Eway What to look out for in a payment gateway provider

What is a payment gateway?

A payment gateway is a technology solution that facilitates the transfer of payment information between a customer's bank and a merchant's bank, authorising transactions for online and in-store purchases. When a customer initiates a payment, the gateway securely encrypts and transmits the payment data to the merchant's acquiring bank for authorisation. Upon approval, the transaction is completed, and funds are transferred accordingly.

Key features and benefits include:

Secure transaction processing: Utilises encryption protocols such as SSL/TLS to protect sensitive information, ensuring data security and compliance with standards like PCI DSS.
Multiple payment methods: Supports various options, including credit/debit cards, digital wallets (e.g., Apple Pay, Google Pay), and bank transfers, catering to diverse customer preferences.
Seamless integration: Offers compatibility with e-commerce platforms and POS systems, enabling streamlined operations and a cohesive user experience.
Fraud detection: Employs advanced tools and algorithms to identify and prevent fraudulent activities, safeguarding both merchants and customers.

For e-commerce businesses, selecting a reliable payment gateway in Singapore is essential to accommodate the payment preferences of both local and international customers, ensuring secure and efficient transactions.

However, a common challenge faced by these businesses is managing overseas payments to suppliers, often incurring high foreign exchange markups and transaction fees.

🚀 Real Business Stories: How Novelship saves time and money when paying overseas suppliers
Novelship is a fast growing e-commerce platform for sneakers, apparel and collectibles. Founded in Singapore in 2018, the company quickly discovered that paying suppliers through a bank can be time consuming and expensive. SWIFT telegraphic transfers could take several days to arrive, and the exchange rate available from the bank included a markup or spread - an extra fee. This pushed up the cost of sending a payment overseas, and ate into business profits. Since 2021, Novelship has used Wise Business to make paying invoices and international suppliers easier, cheaper and more efficient. It’s also a speedy process, which means the sellers and suppliers who use Novelship are happy too - there’s no waiting around for a SWIFT payment to be deposited, as supplier payments are quickly processed and received around the world. ➡️ Read how Wise Business helped Novelship grow its ecommerce business globally (and more profitably)

🚀 Real Business Stories: How Novelship saves time and money when paying overseas suppliers

Novelship is a fast growing e-commerce platform for sneakers, apparel and collectibles. Founded in Singapore in 2018, the company quickly discovered that paying suppliers through a bank can be time consuming and expensive. SWIFT telegraphic transfers could take several days to arrive, and the exchange rate available from the bank included a markup or spread - an extra fee. This pushed up the cost of sending a payment overseas, and ate into business profits.

Since 2021, Novelship has used Wise Business to make paying invoices and international suppliers easier, cheaper and more efficient. It’s also a speedy process, which means the sellers and suppliers who use Novelship are happy too - there’s no waiting around for a SWIFT payment to be deposited, as supplier payments are quickly processed and received around the world.

➡️ Read how Wise Business helped Novelship grow its ecommerce business globally (and more profitably)

Top 7 payment gateway providers in Singapore

Below is a brief summary of the key details relating to each payment gateway provider. We’ll take a closer look at each in the next section.

Provider	Card Payment Methods	Alternative Payment Methods	Conversion Fees	Special Features
Airwallex¹	Mastercard, Visa, Amex, UnionPay, JCB	160+	Domestic: 3.3% + S$0.50 International: 3.6% + S$0.50	Multi-currency accounts, global collection, and payout capabilities
PayPal²	Mastercard, Visa, Amex, UnionPay	10+	Domestic: 3.9% + S$0.50 International: 4.4% + S$0.50 Alternative methods: 3.9% - 4.4% + S$0.50	One-Touch™ checkout, buyer and seller protection
Stripe⁴	Mastercard, Visa, Amex, JCB, Link, UnionPay	100+	Domestic: 3.4% + S$0.50 International: 3.8% + S$0.50	Customisable API, subscription billing, and recurring payments
Adyen⁵	Mastercard, Visa Amex, UnionPay, Discover, Diners, JCB, Maestro	13	Card payments (domestic + international) £0.11 ($S0.19) Alternative methods: £0.11 ($S0.19) + variable fee	Unified commerce solutions, risk management tools
Shopify Payments⁶	Mastercard, Visa, Amex, Express, UnionPay	6	Basic Plan: 3.2% + S$0.50 Regular Plan: 2.6% + S$0.50 Advanced Plan: 2.4% + S$0.50 Alternative methods: Variable fee of 0.6% to 2%	Integrated with Shopify platform, fraud analysis
Opn Payments⁷	Mastercard, Visa, Amex, JCB	14	Card payments (domestic + international) : 3.3% + S$0.30 Alternative methods: Highly variable	Seamless integration, real-time reporting
Eway⁸	Mastercard, Visa, Amex, Discover, JCB	3	Card payments (domestic + international): 1.5% + AUD 0.25 (approx S$0.21)	Rapid setup, secure transactions, and fraud prevention tools

*Details correct at time of research - 28th February 2025

Shopify Payments

Shopify Payments is Shopify's built-in payment processing system that allows merchants to accept payments directly without needing third-party payment gateways. It supports multiple payment methods, including credit cards, Apple Pay, and Google Pay, while offering features like fast payouts and fraud prevention.

Pricing and fees

Shopify Payments’ fees vary based on the plan selected as well as the type of credit card used:

Basic Shopify Plan: 3.2% + S$0.50 for online transactions.
Shopify Plan: 2.6% + S$0.50
Advanced Plan: 2.4% + S$0.50

A variable fee between 0.6% and 2% is incurred when using the select few available third-party payment providers.

Special features

Integrated Platform: Ability to manage orders, payments, and payouts directly within the Shopify admin dashboard.
Global Currency Support: Support for 133 currencies.
Fast Payouts: Funds received within four business days.

Best for: Shopify store owners who want a seamless, fully integrated payment processing solution with lower transaction fees and faster payouts.

💡If you're an e-commerce seller tired of high fees, open a Wise Business account to get paid through Shopify in multiple currencies—without the receiving fees. Enjoy the mid-market exchange rate for currency conversions within your Wise account or international transfers.

That means you save money on every transaction compared to using your regular bank or Shopify.

➡️ Read our Complete Guide on How to Accept Shopify Payments to your Wise Business Account here

Airwallex

Airwallex is a multinational financial technology company founded in 2015 in Melbourne, Australia, and currently headquartered in Singapore.

The company offers a comprehensive financial platform designed to facilitate cross-border transactions for businesses. Airwallex's services encompass payment processing, foreign exchange, multi-currency accounts, and expense management solutions.

Pricing and Fees

Domestic Transactions: 3.3% + S$0.50
International Transactions: 3.6% + S$0.50

Special Features

Multi-Currency Accounts: Hold and manage funds in multiple currencies, reducing the need for frequent conversions.
Global Collection and Payout: Collect payments from customers worldwide and disburse funds efficiently.
Integration Capabilities: Seamlessly integrates with various e-commerce platforms and financial systems.

Best For: Businesses seeking a scalable solution for international transactions with competitive FX rates.

➡️Check out our detailed review of Airwallex here.

PayPal

PayPal is a globally recognised payment gateway facilitating online payments and money transfers, supporting 25+ currencies and 20+ payments.

Pricing and fees

Domestic card fees: 3.9% + S$0.50
International transactions: 4.4% + S$0.50
Alternative payment methods: 3.9% - 4.4% + S$0.50

Special features

One-Touch™ checkout.
Comprehensive buyer and seller protection.
Support for multiple currencies.

Best for: Businesses looking for a widely recognised payment solution with extensive customer reach.

➡️Explore our in-depth review of PayPal here.

Stripe

Stripe is a leading payment gateway renowned for its extensive suite of features tailored to diverse business needs. It offers customisable payment forms and advanced fraud detection, as well as tools for automating recurring billing and managing customer subscriptions efficiently.

Pricing and fees

Domestic transactions: 3.4% + S$0.50
International transactions: 3.9% + S$0.50

Special features

Customisable API
Support for subscription billing
Recurring payments
Suite of developer tools for tailored integrations.

Best for: Tech-savvy businesses requiring customisable payment solutions with robust developer support.

➡️ Check out our comprehensive review of Stripe here.

Adyen

Adyen is a global payment company offering a unified commerce platform for businesses. Having started out in the creation of analytic tools, Adyen quickly graduated to developing end-to-end payment capabilities among other financial products.

Pricing and fees

Major cards: £0.11 (S$0.19) + interchange (0.6%) for both domestic transactions and international transactions.
Alternative payment methods: There are only 3 available in Singapore which each incur the same £0.11 (S$0.19) processing fee but with a variable percentage rate depending on the payment method.

Special features

Unified commerce solutions: Integrates in-store and online payments for a seamless customer experience.
Risk management Tools: Advanced fraud detection and prevention mechanisms.
Support for local payment methods: Includes options like PayNow and GrabPay, catering to Singaporean consumers.

Best for: Large enterprises seeking a comprehensive payment solution with global reach and robust security features.

➡️ Read our in-depth review of Adyen here

Opn Payments

Opn Payments, formerly known as Omise, provides secure and scalable payment solutions tailored for businesses in the Asia-Pacific region, offering multi-currency support, advanced fraud detection, and seamless integration with e-commerce platforms and financial institutions.

Pricing and fees

Major cards: 3.3% + S$0.30 per transaction for both domestic and international
Alternative payment methods: Fees ranging from 1% + S$0.15 to 5.50% + S$0.15.

Special features

Regional focus: Deep understanding of the Asian market, supporting local payment methods.
Seamless integration: APIs and plugins for easy integration with various platforms.
Real-Time reporting: Access to detailed analytics and transaction reports.

Best for: Businesses operating in the Asia-Pacific region seeking a payment gateway with local expertise.

Eway

Eway is an Australian-based payment gateway that provides secure and reliable payment solutions for businesses operating in Singapore, featuring fraud protection, multi-currency support, and integration with major e-commerce platforms and accounting software.

Pricing and fees

Transaction Fees: 1.5% + AUD 0.25 (approximately S$0.21) per transaction.

Special features

Rapid Setup: Quick integration process suitable for businesses of all sizes.
24/7 Technical Support: Assistance available to address any technical issues promptly.
Security Measures: PCI DSS compliant, ensuring secure transactions.

Best for: Small to medium-sized enterprises seeking a straightforward and cost-effective payment solution.

➡️ If you're an SME just starting out, check out our extensive Review of the Best Singapore Bank Accounts for SMEs here

What to look out for in a payment gateway provider

When selecting a payment gateway in Singapore, there are a few key factors to consider:

Accepted payment methods: Ensure the gateway supports various payment options, including credit/debit cards and local payment methods like PayNow and GrabPay.
Fees and pricing structure: Evaluate transaction fees, setup costs, and any additional charges to understand the overall cost.
Supported integrations and platforms: Check compatibility with your existing e-commerce platform or website.
Security: Confirm that the provider is PCI DSS compliant and offers robust fraud detection tools.

Payment gateway providers are not just for ecommerce businesses

For business owners looking for a payment gateway in Singapore, fortunately, there are several great providers to choose from. While e-commerce businesses are their main clients, there are many other types of companies here that can benefit from payment gateway solutions.

These include but are not limited to:

Service-based businesses: Facilitate online payments for services rendered.
Healthcare providers: Enable patients to pay for appointments and treatments online.
Educational institutions: Collect tuition fees and other payments digitally.
Event management companies: Sell tickets and manage registrations through online payments.
Utility providers: Allow customers to pay bills conveniently online.
Digital content creators: Monetise content by accepting payments for digital products.

💡 No matter what type of business you’re in, if you’re selling online, there’s a good chance of entering new markets in future. Why not consider Wise Business to ensure your international financial transactions stay cost-effective?

Wise Business can help you keep more of your profits.
🚀 Always Get the Mid-Market Rate No more hidden markup fees or foreign transaction fees - We give you the exact mid-market exchange rate + a transparent, low conversion fee.	🌍 Global Multi-Currency Account that Feels Local Send money to over 70 countries and manage multiple currencies without breaking a sweat. Get account details to receive payments in GBP, EUR, AUD and more currencies just like a local
💸 Pay Once, Unlock Forever Forget about monthly charges or annual fees. With Wise Business, you can unlock the full suite of features for a one-time fee of 99 SGD	💼 Batch Payments Brilliance Too many invoices? Power through up to 1,000 invoices in just one click with our Batch Payments Tool
💳 Command Your Cash Flow with Wise Business Cards Give your team their own corporate debit cards to keep expenses clean and easy to monitor. Need more control? Approve payments, set spending limits, and freeze your card if you've lost it.	📄 Free Invoicing Tool Level up your invoicing game with our free tool. Create and send professional invoices that not only get noticed but get paid.

Get Started with Wise Business today

Sources:

Sources checked on 28.02.25

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.