Best Payment Gateways for Ecommerce in Singapore

Singapore has more payment gateways per capita than any other Southeast Asian market — and the fee difference between the best and worst choice is larger than most sellers realize.

A Singaporean ecommerce seller processing S$50,000/month pays between S$1,146 and S$2,181 in gateway fees depending on which provider they use. That spread of S$1,035 per month is S$12,420 per year, enough to fund an entire marketing campaign or an additional hire. We compared HitPay, Stripe, Tazapay, Checkout.com, and PayNow-integrated options on fees, payment method coverage, cross-border capability, and settlement speed.

How We Evaluated

We compared five payment gateway options across six criteria specific to Singapore’s ecommerce environment:

1. Transaction fees — percentage and fixed fee for domestic cards, international cards, and PayNow/NETS
2. PayNow and SGQR support — integration with Singapore’s national payment infrastructure
3. Cross-border capability — multi-currency support, international card acceptance, and FX conversion costs
4. Settlement speed — business days from transaction to payout to your Singaporean bank account
5. Platform integrations — Shopify, WooCommerce, BigCommerce, and custom API support
6. PCI DSS compliance and fraud protection — security certifications and risk management tools

All fees verified against official pricing pages and merchant documentation as of March 2026.

Quick Comparison

Rates shown are standard published rates for Singapore-registered businesses. Verified March 2026.

HitPay: The Homegrown All-in-One

HitPay is Singapore’s fastest-growing local payment gateway, built specifically for Southeast Asian sellers. It combines online payments, point-of-sale, and invoicing in a single platform.

Key strengths:

• Lowest overall fees for Singaporean sellers — 2.8% + S$0.50 for domestic cards, 0.65% + S$0.30 for PayNow (over S$100)
• Native PayNow QR integration with the lowest PayNow rate among gateway providers
• Built-in point-of-sale feature — accept in-person payments with the same merchant account
• Shopify, WooCommerce, and Magento plugins with self-serve setup

Limitations:

• International card acceptance rates are lower than Stripe and Checkout.com
• Limited multi-currency support — primarily SGD-focused
• Fraud detection tools are basic compared to Stripe Radar
• Smaller developer community and less extensive API documentation

Pricing: Domestic cards at 2.8% + S$0.50. International cards at 3.65% + S$0.50. PayNow at 0.65% + S$0.30 for transactions over S$100 (0.9% with minimum S$0.20 for transactions under S$100). Settlement is T+1 for both cards and PayNow. No monthly fee, no setup fee. Pricing is publicly listed on HitPay’s website.

Best for: Singapore-focused SME sellers who want the lowest transaction fees and native PayNow integration without technical complexity.

Stripe: The Global Standard

Stripe is the most widely used payment gateway globally and has strong presence in Singapore. Its API-first approach and extensive feature set make it the default choice for developer-led teams and scaling businesses.

Key strengths:

• Best-in-class API documentation and developer experience — supports every major programming language
• Stripe Radar for machine learning-based fraud detection, customizable risk rules
• Multi-currency support for 135+ currencies with automatic FX conversion
• Supports subscriptions, marketplace payments (Stripe Connect), and invoicing natively
• PayNow integration available for Singaporean merchants

Limitations:

• Most expensive major gateway for domestic card transactions: 3.4% + S$0.50
• International cards at 4.4% + S$0.50 (no separate FX fee, rolled into the rate)
• Settlement at T+7 is significantly slower than HitPay’s T+1
• PayNow fee (1.3%) is higher than HitPay’s 0.65% + S$0.30

Pricing: Domestic cards at 3.4% + S$0.50. International cards at 4.4% + S$0.50. PayNow at 1.3%. GrabPay at 3.3%. Settlement is T+7 (standard for Singapore). No monthly fee. Volume discounts available for businesses processing over USD 80,000/month — contact Stripe Singapore for custom pricing.

Best for: Ecommerce businesses selling internationally, SaaS companies with subscription billing, and developer-led teams that value API quality and ecosystem integrations above cost.

Tazapay: The Cross-Border Specialist

Tazapay, a Singapore-headquartered fintech, focuses on cross-border trade payments with built-in escrow protection. It is particularly strong for B2B ecommerce and wholesale transactions across Southeast Asia.

Key strengths:

• Built-in escrow for cross-border transactions — funds held until buyer confirms receipt
• Competitive FX rates for multi-currency transactions — often better than Stripe’s 2% conversion fee
• Supports 173 countries and 80+ currencies from a single integration
• Designed for high-value B2B transactions where buyer protection matters

Limitations:

• Not designed for high-volume B2C ecommerce with small order values
• No PayNow or SGQR integration as of March 2026
• Fewer ecommerce platform plugins compared to Stripe and HitPay
• Settlement times for escrow transactions can reach T+5

Pricing: Standard card processing at 3.8% + US$0.50 (note: Tazapay prices in USD, not SGD). Escrow transaction fees vary by corridor and amount (typically 1-3%). No monthly fee for standard plans. Custom pricing for enterprise volumes.

Best for: Singapore-based B2B sellers, wholesale exporters, and cross-border traders who need escrow protection and competitive FX rates for high-value transactions.

Checkout.com: The Enterprise Gateway

Checkout.com is a global payment platform primarily targeting mid-market to enterprise ecommerce businesses. Its Singaporean presence focuses on high-volume merchants and cross-border commerce.

Key strengths:

• Competitive FX spreads for multi-currency processing — often 50-70% lower than Stripe’s conversion fees
• Network tokenization for higher card acceptance rates on recurring payments
• Intelligent payment routing — automatically routes transactions through optimal processing paths
• Strong fraud detection with behavioral analytics and 3D Secure support

Limitations:

• Custom pricing only — no publicly listed rates, requires a sales conversation
• Minimum volume expectations (typically S$50,000+/month to qualify for competitive rates)
• No PayNow or SGQR integration
• Onboarding takes 2-4 weeks with KYC review

Pricing: Custom pricing based on monthly volume, transaction count, and payment method mix. Contact Checkout.com for a quote. Generally competitive with Stripe for merchants processing S$100,000+/month.

Best for: Established ecommerce businesses processing S$100,000+/month with significant cross-border volume, where Checkout.com’s FX rates and intelligent routing provide meaningful cost savings over Stripe.

PayNow Direct Integration

PayNow is Singapore’s national real-time payment system operated by the Association of Banks in Singapore. While not a traditional payment gateway, sellers can accept PayNow payments directly through their business bank account.

Key strengths:

• Zero or minimal transaction fees — most business accounts include PayNow at no additional charge
• Instant settlement — funds arrive in your bank account immediately
• High trust among Singaporean consumers — PayNow is backed by MAS-regulated banks
• SGQR support for in-person and online payments

Limitations:

• No automated reconciliation with ecommerce platforms
• Manual payment verification required unless you build custom integration
• No credit card acceptance — PayNow only
• No fraud protection or chargeback handling
• Not practical for high-volume automated ecommerce without custom development

Best for: Low-volume sellers, social commerce sellers on Instagram or Carousell, and businesses that can manually verify payments. Not suitable as a primary gateway for automated ecommerce stores.

The Real Cost: Fee Comparison at Scale

Here is what each gateway actually costs at different volumes, assuming S$120 average order value with a 40% PayNow / 60% card mix (typical for Singapore ecommerce):

At S$100,000/month, switching from Stripe to HitPay saves S$520/month, or S$6,240/year. Tazapay is significantly more expensive for domestic transactions because it prices in USD and has no PayNow support. PayNow Direct is cheapest but requires manual reconciliation.

Payment Method Coverage Comparison

For most Singapore-focused B2C sellers, HitPay covers the essential methods: cards, PayNow, GrabPay, and Apple/Google Pay. Stripe adds broader cross-border card acceptance for international sales.

Our Verdict

If you sell primarily to Singaporean customers: Choose HitPay. The lowest card fees, the cheapest PayNow rate, T+1 settlement, and built-in POS capability make it the best value for domestic Singapore ecommerce. The fee savings over Stripe are significant, around S$6,240 per year at S$100,000 monthly sales.

If you sell internationally or need developer tools: Choose Stripe. The higher fees buy you the best API, multi-currency support, and fraud detection in the market. Worth the premium if more than 30% of your revenue comes from international customers.

If you do high-value B2B cross-border trade: Choose Tazapay. The escrow protection and competitive FX rates are built for wholesale and trade transactions that other gateways do not handle well.

If you process S$100,000+/month with significant cross-border volume: Talk to Checkout.com. Their custom pricing and intelligent routing can undercut Stripe’s rates at scale, especially on international transactions.

For most Singaporean SME ecommerce sellers: HitPay is the clear starting point. Low fees, PayNow integration, and no minimums. Add Stripe as a secondary gateway if you expand internationally.

For Malaysian sellers looking for equivalent recommendations, see our best payment gateways for Malaysia comparison. If you are considering adding buy-now-pay-later to your checkout, our BNPL guide for sellers covers the merchant economics.