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Annual number of credit card transactions in Singapore 2013-2022, per capita
Credit card payments in Singapore grew by nearly 70 million transactions in 2022, as the per capita use also grew. The payment method plays a significant role and is part of a much wider movement of payment digitalization. Credit cards ranked as Singapore's most used in-store payment method, for example, but they were slowly losing terrain to mobile wallets. In 2020 , Singapore had the highest penetration rate for cashless payments in Southeast Asia.