One in five Singaporean Visa cardholders buying online for the first time

Majority won’t revert back to using cash even after the pandemic is over.

One in five active Visa cardholders in Singapore are making their first e-commerce transactions for the first time this year, according to a Visa study.

Two-fifths (40%) in the Lion City are willing to increase their online purchases in the future. Three in five are now choosing to pay using cards or mobile payment apps rather than cash, with four-fifths (78%) intending to stick with contactless payments even after the pandemic is over.

E-commerce growth is likely to increase ten times faster than face-to-face transactions this year.

More than one-fifths (37%) said online shopping is a more positive experience than shopping at a physical store, similar to the global response (35%). Singaporean shoppers (65%) are also becoming more mindful of prices, compared to 63% in Asia Pacific and 59% globally.

Singaporeans are also most likely to be on the lookout for a bargain, with 51% paying more attention to products on sale, compared to their counterparts in Asia Pacific (47%) and around the world (45%).

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