DUBLIN–(BUSINESS WIRE)–The “Top Mobile Payment Service Providers in Singapore 2020 and their Reaction to the COVID-19 Crisis “ report has been added to ResearchAndMarkets.com’s offering.
The value of E-commerce is predicted to significantly increase by 2021 in Singapore
Singapore has one of the most developed E-Commerce markets in Southeast Asia as reported in several studies conducted in 2019 that are cited in the new publication. Due to the pandemic in 2020 and its associated precautions, Singaporeans have preferred to make contactless payments. Therefore, Singaporean E-Commerce keeps growing as merchants strive to shift to an online business model, which boosts E-Payment methods.
New partnerships of the top E-Payment service providers boost cashless payment
Top three online payment platforms of Singapore, DBS PayLah!, GrabPay and FavePay, partnered with merchants, transportation and lodging enterprises and banks to promote digital paying methods and support consumers with greater options of retail outlets, goods and services during the pandemic. This collaboration widened each of the platform’s merchant and user base during the coronavirus health crisis, according to sources cited in the report.
Businesses were supported by the Singaporean government after the COVID-19 outbreak
Due to the financial challenges faced by businesses because of the health crisis, the government of Singapore initiated several supporting measures and grants to assist enterprises monetarily. The report tells how the governmental organization that supports Singaporean companies’ development also launched a program to help enterprises convert from a brick-and-mortar model to online sales or services.
Report Coverage
Report Structure
Key Topics Covered:
1. Management Summary
2. Overview
3. DBS PayLah!
4. GrabPay
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/r6vnmx
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