Singapore Digital Payments Growth Seen Lifting Volumes to USD113.7bn by 2030

Singapore digital payments growth is projected to lift transaction volumes to USD113.7bn by 2030, up from USD39.4bn in 2023, as the city leads Southeast Asia in adoption and funding and younger consumers accelerate the shift to cashless transactions, according to a report by the Singapore FinTech Association and PwC.

The report said Singapore’s payments sector raised more than USD319m in the first nine months of 2025, exceeding the combined funding of several regional peers.

It added that Singapore-dollar-pegged stablecoins accounted for over 70% of regional transaction volumes in the second quarter of 2025.

Domestically, FAST processed more than 500m transactions in 2024, up 31% year on year, and about 98% of adults use digital wallets.