Digital payments make for better money management: PayPal

SINGAPORE (Aug 29): New research conducted by online payments company PayPal has revealed that while cash remains king for transactions in Singapore, going digital may be the way to get locals to pay their bills.  

Entitled Digital Payments: Thinking Beyond Transactions, the study surveyed 500 consumers and 200 merchants in Singapore, out of which only 23% of consumers who used digital payments reported to have experienced difficulty with bill payments compared to 43% of consumers who used cash.

Cash is still the preferred mode of payment in Singapore, with 90% of survey respondents using it for transactions with 43% citing it as the most often used payment option. 

---

Related Stories

• Australian government drops bill on social media misinformation
• Competitors PayPal, Adyen publicly collaborate for the first time
• Why wealth management needs a high-touch, high-tech approach

---