Debit Card Usage Increasing in Singapore

by Mercator Advisory Group 0

A recent survey in Singapore suggests that consumers are using debit cards for their daily purchases more this time of global economic uncertainty.

Two out of three ATM- or debit-card holders here choose to pay for their daily purchases using PIN-based debit-payment methods such as Nets or Epins….More people are expected to turn to these payment methods in the light of a looming economic crisis.

The control and certainty of spending with using debit cards appear to have made them more popular today. And the expected arrival of proximity mobile payments believed to be largely debit-card-based is also driving debit’s popularity.

At least three mobile- payment services will be made available by the middle of next year, according to earlier reports.

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