More consumers are adopting mobile payments compared to 2018 in Singapore, study shows

Monday 30 August 2021 11:54 CET | News

UnionPay has issued its Cashless Payment Adoption Study according to which 74% local Singapore residents surveyed used mobile wallet to make QR Code payment at least once in the past six months.

This was a 7% increase from UnionPay's last survey on cashless payment in September 2018, whereby 67% said they used their mobile wallet to make QR Code payments.

In the absence of card, categories where mobile wallets are ranked in the top 5 preferred payment methods include F&B, supermarkets, entertainment outlets, convenience stores and departmental stores. The survey results also showed that DBS PayLah!, Google Pay and GrabPay are the top three mobile wallet apps with the highest consumer awareness, and most often used. 

Credit card remained the most often used (47%) payment instrument among those surveyed, with Debit card (18%) and mobile wallet (13%) a distant second and third.

The UnionPay online survey on Cashless Payment Adoption was conducted by Nielsen, with over 1,200 Singapore residents aged 18 to 55 from January to February 2021. Those surveyed cited convenience, rewards, cashback, and discounts as the main reasons for using mobile wallets.

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Keywords: UnionPay, survey, study, mobile payments, QR code
Categories: Payments & Commerce
Countries: South East Asia
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Payments & Commerce

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