Dublin, July 07, 2025 (GLOBE NEWSWIRE) -- The "Singapore Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to offering.

The prepaid card and digital wallet market in Singapore is projected to grow annually by 11.2%, reaching US$10.74 billion by 2025. Over the past few years, from 2020-2024, this market has demonstrated significant growth, achieving a CAGR of 14.6%. This trend is expected to continue with a CAGR of 9.6% during 2025-2029. By the culmination of 2029, the market is anticipated to expand from US$9.66 billion in 2024 to approximately US$15.51 billion.

Singapore's prepaid card market is rapidly transforming, driven by digital payment adoption, evolving consumer preferences, and business demand for streamlined financial solutions. With strong government backing and technological advancements, prepaid cards are becoming a critical component of the country's payment landscape.

Over the next few years, financial institutions and fintech companies are expected to introduce more customized and innovative prepaid card products. As the market matures, prepaid cards will play a key role in Singapore's transition to a fully digital and cashless economy.

Singapore's prepaid card market is on a strong growth trajectory, fueled by technological advancements, regulatory support, and increased consumer adoption of digital payment methods. The competition between traditional banks and emerging fintech players drives innovation and improved financial services, making prepaid cards an essential part of the country's payment ecosystem.

As the market matures over the next few years, financial institutions and payment service providers will continue to expand their prepaid card offerings, integrating them with digital wallets and mobile financial solutions. With strong regulatory oversight and ongoing technological advancements, prepaid cards are set to play a pivotal role in Singapore's transition to a fully cashless economy.

Report Scope

This report offers an in-depth, data-driven examination of prepaid payment instruments, focusing on expenditures via prepaid cards and digital wallets within both retail and corporate consumer sectors. It also presents an overview of consumer behavior and retail spending patterns in Singapore. The report includes a detailed breakdown of key market segments for each country.