Unleash the power of Singapore’s thriving payments market
As of 2021, Mexico had 89.5 million internet users, which accounted for 75.7% of the population over six
Cash remains a major payment method in Mexico. In 2021, it was the most commonly used payment method for purchases under MXN500 ($24.79), with 90.1% of Mexicans (75.4 million people) using cash, 6.2% using debit cards, 1.2% using credit cards, and 2.1% using other payment instruments.
Security concerns and a large informal sector are obstacles to Mexico's digital ecosystem
Mexico's internet users predominantly use smartphones to access the internet, with 98% relying on them for connectivity
Only 22% of Mexico's internet users buy goods online, and just 17.6% conduct banking operations online
30% of Mexico's internet users are concerned about online fraud, and 28% are not willing to share banking information online
 |
Singapore has one of the highest internet penetration rates globally–96.9% (or 5.81 million people) at the beginning of 2023–meaning the vast majority of the population has access to the internet. This widespread internet usage has created a conducive environment for eCommerce growth. |
|
As one of the most affluent countries in Asia, per capita income is $65,000. The eCommerce market has an exceptional value of its own: it’s expected to reach US $10 billion by 2026. |
|
Singapore has the highest basket size among all Southeast Asian countries at $67.40. This represents an exciting opportunity for eager merchants to capitalize on. |
|
Mobile commerce is a significant driver of eCommerce in Singapore. With the increasing adoption of smartphones and mobile devices, consumers increasingly use mobile platforms for online shopping, leading to the growth of mobile commerce. |
|
With over three million eCommerce users, 58% of Singapore residents make online purchases. |
|
Shopee is the top eCommerce platform in Singapore, followed by Lazada and Amazon. |
Global Payments
Insights Report
Ready to streamline your payment and payout processes?
Download our free Global Payments Insights
Report and discover how the latest trends - and big picture changes / strategies (not sure what word here) - can help you optimize your payment and payout strategy and operations.
Seamless integration with local and international payment channels
Advanced security measures ensuring safe and trustworthy transactions
Payout preferences (in SGD and 70+ other currencies)
To offer a genuinely hyper-localized and comprehensive payment experience, MassPay offers payout solutions in Singaporean Dollars (SGD) and 70+ other currencies. This allows your customers to receive payments in the currency they prefer and trust.
Real-time payouts
MassPay’s real-time payouts mean you can rest assured knowing customers will receive their payments quickly and securely. With high-speed transfers, we ensure your customers have access to their money when needed.
Secure and compliant transactions
Your customers’ data—and yours—is secure with us with 24/7 monitoring from our dedicated security team.
We provide two-factor authentication, requiring customers to enter a unique code sent to their mobile device or email address in addition to their username and password for account access. MassPay also utilizes advanced fraud detection measures, including machine learning algorithms, to identify and prevent fraudulent transactions.
In terms of compliance, MassPay complies with international security standards and regulations, including GDPR and PCI DSS Level 1. This ensures our solutions fit into your payment and payout processes seamlessly.
Payment processing
Regarding payment processing, MassPay provides a fast, reliable solution with no middlemen and low fees. This allows you to accept payments easily from customers around the world.
Local and international redundancy
One of the most time-consuming parts of international payments is dealing with multiple payment providers. MassPay solves this by offering both local and international redundancy, so you don’t have to worry about finding the right provider or getting hit with unexpected fees.
Forex tools
International businesses often find themselves dealing with the complexities of exchanging currencies. MassPay’s Forex tools help you manage foreign exchange risk and get the best rates for currency conversions.
The Singapore Payout Market
To thrive in Singapore’s payout market, merchants must offer customers fast and secure payments. MassPay’s suite of tailored payment solutions helps you meet the needs of this dynamic eCommerce landscape, allowing you to provide a convenient and reliable service for your customers.
With our comprehensive payout solutions, you can give Singaporeans the localized experience they expect from their preferred payment provider. Whether it’s cash pickups or digital wallets, MassPay has the tools to ensure every customer is taken care of—and every transaction is secure and compliant.
Tax Processes
Built For The Gig Economy.
Our frictionless contractor tax process includes everything you need to meet IRS 1099 & 1042-S requirements.
SINGLE PANE OF GLASS
FOR YOUR PAYOUT OPERATIONS
All of your payout operations are accessible from an easy to access, easy to use dashboard that is available wherever you are with whatever device(s) you prefer.
Cards
According to recent statistics, over 73% of Singaporeans have at least one credit card. Merchants need a payment platform that supports significant card networks such as Mastercard, Visa, American Express, and Discover. MassPay makes it easy to accept these credit cards with our secure payment solutions.
Cash
Although cards lead the way in popularity, many Singaporeans still use cash for everyday purchases. MassPay supports cash pickups, allowing recipients to collect funds from a designated location conveniently. To use this method, you provide the recipient’s name and pickup location, and the transfer will typically be available for pickup within a few hours.
Digital wallets
Singaporeans are increasingly using mobile wallets for their day-to-day payments. With MassPay’s digital wallet payment solutions, you can give customers the convenience of paying with major eWallets like GrabPay, Google Pay, and Singapore’s most popular platform: DBS PayLah!.
Bank transfers
Our bank transfer solution allows customers to make payments via their local banks in SEPA countries, ASEAN countries, and more. You’ll also be able to simultaneously process funds from multiple banking sources—without switching between countries or currencies.
Cross-border payments and remittances
Especially when it comes to eCommerce, cross-border payments are becoming more and more popular. MassPay facilitates this by allowing customers to pay in their local currency, eliminating the risk of exchange rate fluctuations. You’ll also have access to our network of banking partners for quick and secure international remittances.
Detailed Reporting
COMPREHENSIVE DATA
Immediate access to real-time reporting provides comprehensive visibility into your operations. No matter what you're looking for, or where you're looking for it, it's right at your fingertips.
Ready To Grow
Your Business In Singapore?
