Payments & Digital Banking · Singapore

Payment Gateways for Singapore SMEs (2026)

From PayNow to cross-border cards — how 5 popular payment gateways compare for accepting payments in Singapore.

How you accept payments affects your cash flow, customer experience, and how much of every sale you actually keep. With digital payment penetration in Singapore reaching 57% — the highest in Southeast Asia — and 80% of consumers and businesses using PayNow, choosing a gateway with strong local payment method support isn’t optional anymore.

Below is a comparison of 5 payment gateways commonly used by Singapore SMEs, freelancers, and e-commerce sellers — from local-first platforms to global standards.

Compare Payment Gateways Side-by-Side

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Not sure which to pick? Quick guide:
• SG-first, no monthly fees, PayNow-native → HitPay
• E-commerce/SaaS, global standard → Stripe
• Need a multi-currency business account too → Airwallex
• Scaling fast, enterprise-grade needs → Adyen
• Customer trust/brand recognition matters most → PayPal

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Provider	Type	Monthly Fee	PayNow Support	Best For
HitPay	SG Payment Gateway	S$0	Yes — native	SMEs wanting zero fixed cost
Stripe	Global Payment Gateway	S$0	Yes	E-commerce, SaaS, developers
Airwallex	Multi-Currency + Payments	S$0 (account-dependent)	Yes	Cross-border SMEs, FX-heavy businesses
Adyen	Enterprise Payments Platform	Custom/volume-based	Yes	Scaling SMEs, high transaction volume
PayPal	Global Wallet + Gateway	S$0	No	Cross-border customer trust

Transaction fees vary by provider, payment method, and volume — figures above show monthly/fixed fee structure only. As of June 2026; always verify current rates directly with each provider. This is not financial advice.

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A Closer Look at Each Provider

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HitPay

SG Payment Gateway

A Singapore-headquartered, MAS-licensed gateway built specifically for SMBs, supporting 50+ payment methods including PayNow, GrabPay, and BNPL — with zero monthly or setup fees and next-business-day SGD settlement.

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Stripe

Global Payment Gateway

The global standard for online payments — supports PayNow, GrabPay, and cards in Singapore, with deep integrations for Shopify, WooCommerce, and custom-built sites. Strong choice if you’re already in the Stripe ecosystem or building custom checkout flows.

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Airwallex

Multi-Currency + Payments

Combines a multi-currency business account with payment acceptance — useful if you collect revenue in multiple currencies or pay overseas suppliers regularly, not just a checkout tool.

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Adyen

Enterprise Payments Platform

A payments platform rather than a simple gateway — built for businesses with growing transaction volume that need more sophisticated routing and reporting. Note it doesn’t offer multi-currency accounts as a standalone product.

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PayPal

Global Wallet + Gateway

One of the world’s most recognised payment brands, operating in 200+ markets. Doesn’t support PayNow directly, but the brand trust factor can help convert international or first-time customers who already use PayPal elsewhere.

A Real Scenario

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An SME owner selling locally and overseas asked me whether to switch from PayPal to something else. The answer wasn’t “switch entirely” — it was “add HitPay alongside it.” PayPal kept the cross-border customer trust they’d built, while HitPay picked up the local PayNow transactions that PayPal couldn’t handle, lowering their overall transaction costs. Sometimes the right move is running two gateways for two different customer segments, not replacing one with another.

Frequently Asked Questions

What’s the difference between a payment gateway and a digital bank?

A payment gateway (like HitPay or Stripe) processes transactions between your customer and your bank account — it doesn’t hold your money long-term. A digital bank (like GXS or Aspire) is where your business funds sit and from which you pay bills, suppliers, and payroll. Many SMEs use both: a gateway to collect payments, and a digital bank or business account to manage the funds afterward.

Do I need PayNow support for my business?

If most of your customers are in Singapore, yes — PayNow is now used by the vast majority of local consumers and businesses for payments. A gateway without native PayNow support may cost you conversions from customers who prefer not to use a credit card.

Can I use more than one payment gateway?

Yes, and many SMEs do — for example, using a local gateway for domestic PayNow transactions and a global gateway like Stripe or PayPal for international customers. This can reduce overall transaction costs and improve conversion across different customer segments.

How long does it take to get approved for a payment gateway?

This varies by provider and your business type, but local SME-focused gateways like HitPay typically approve within 1–3 business days. Global platforms may take longer if additional compliance checks are required, especially for higher-risk business categories.

Can you help me set this up?

I’m a former banker, not a licensed financial adviser — so I don’t give financial advice or charge you fees. What I do is point you toward the option that fits your business model and, where relevant, make a warm introduction. Message me on WhatsApp with your situation and I’ll point you the right way.

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Tell me how and where you sell — I’ll point you to the gateway (or combination) that actually fits.

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+65 9067 7703 · Ex-banker · EN / 中文