What are e-wallets? How they can benefit you? What are the best e-wallets in Singapore? We have covered your all queries regarding e-wallets.
Carrying a bundle of cash or pile of credit cards is going to be history in Singapore.
Thanks to the introduction of e-wallets which have made the transaction easier and convenient like never before.
Paying in cash has been a part of Singaporean culture. Then, it is easy and familiar to most Singaporeans, especially elders.
However, it can’t be denied that Singapore presents a bright landscape for e-payment. 8 in 10 Singaporeans use e-payments while three in five merchants accept e-payments.
The nation was primary Southeast Asia’s launch pad for the popular digital wallets like Samsung Pay, Apple Pay and Android Pay.
The government is aiming to make Singapore a “cash free nation” by 2025.
So, What are E-Wallets?
E-Wallets, also known as digital wallets, lets you securely store credit cards, debit cards and other payment methods in one digital purse to be used through an app or online. With e-wallet, you can pay or transfer funds using your smartphone without requiring credit cards.
Generally, it is available as a mobile app you can download. Unlike cash or wallet, there is no risk of misplacing or pick-pocketing with e-wallet.
It is a digital way to make payments and send/receive funds.
How Having E-Wallets Can Benefit You
1. Easy to Use:
It is easy to use an e-wallet. Just download the app and follow onscreen instructions to set your account and add your payment details. When you are ready to make your first payment at most retailers, you just have to hold your phone near the point or scan the QR code. The payment will be made. Besides, you can transfer the fund or pay via feeding the amount. Simple like that!
2. Easy to Load Money:
Add money to your wallet easily via credit card, debit card and net banking. You can connect all your cards and mobile money account to an e-wallet. This way, you can avoid the hassle of entering the card details every time you make a transaction. And there is no need to fill your actual wallet with plenty of credit cards.
3. Variety of Uses:
From paying dinner bills, data recharge to buying air or bus tickets, e-wallet can be used for a variety of transactions. It means that the power of making payment is just at a few swipes and taps. The reach of digital wallets has gone far and wide across Singapore.
Also Read: 5 Trending Food Apps for Foodies in Singapore
4. Fast:
With an e-wallet, you can make payment in a simple wave of a phone. It is fast and easy! Modern days’ digital wallet apps store your card details to process your payment in a few and easy steps. There is no need to go through lengthy payment details forms every time you make payment. Once the payment is done, you can view the recorded transactions.
5. Incentives:
Most of the wallets offer a set of incentives like discounts, cash back, offers and rewards. For example, you can get reward or cashback on shopping via the wallet.
Which E-Wallet App to Start With….
After exploring the benefits of e-wallets, you must be eager to download the one right now. Isn’t it?
There are plenty of e-wallet apps to choose from. Here we have handpicked the best e-wallet apps in Singapore for you…
- Apple Pay
- Samsung Pay
- Dash
- mWalletSingtel
- LoopPay
- Google Wallet
E-Wallet is the Future of Transactions. Are You Ready?
With the rising popularity of e-wallets and government’s initiative for a cashless economy, Singapore is on the way to become a cashless nation. Therefore, to adopt the later changes and make the most of digital payment landscape, turning to e-wallets is a wise and nice thing to do.
How’s been your experience with e-wallet? Or you want to know more about e-wallets? Please let us know by commenting below…
