PayCly Blog

Payment Gateway Providers in Singapore

PayCly is one of the best payment gateway providers in Singapore. A payment gateway is a medium that transfers payment details between the merchant's web or app payment portal and acquiring bank. It secures the payment details through several security checks, including encryption, 3DS authentication, etc. A payment gateway must comply with the highest level of PCI DSS certification. A payment gateway allows you to take online payments for your goods and services in domestic & international currencies.


Why Do You Need a Payment Gateway in Singapore?

The economy of Singapore is highly developed. It has been regarded as the most open and business-friendly economy globally. Singapore has the 2nd highest GDP (per capita) in the world. Similarly, it ranked 2nd in the ease of doing business index by the World Bank. As per the World Economic Forum, Singapore is the 3rd most innovative economy in the world.

Singapore's e-commerce sector was worth USD 7 billion in 2021 and is expected to grow to USD 12 billion by 2025. In Singapore, 98% of people have access to the internet, and 58% of people make online purchases. The adaptation of online buying was accelerated by the COVID-19 pandemic, which significantly changed consumer preferences. Six Southeast Asian nations (Singapore, Indonesia, the Philippines, Malaysia, Thailand, and Vietnam) have seen an increase of 70 million people shopping online since the start of COVID-19, according to Bain & Company and Facebook.

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An international payment gateway is a fundamental need for any online retailer. It enables online retailers to accept payments through various methods, including ACH, credit or debit cards, bank transfers, cryptocurrency, and more. Since the COVID-19 outbreak, the majority of consumers now opt to purchase online due to how handy it is to have access to the entire market via a computer or mobile device. It makes home delivery of goods and services possible, enables price comparison, and offers the best savings. Additionally, internet shoppers make significant time savings. Moreover, the online marketplace makes it simple to launch a business.

Types of Payment Gateways

Payment gateways are divided into three groups, and PayCly provides you with all of them. These groups are as follows:

How Does a Payment Gateway Work?

For easy understanding, we provide a shortened illumination of the procedure.

How PayCly is the Best Payment Gateway Provider in Singapore?

In Singapore, several PSPs offer payment gateways, including recognized brands like Paypal, DBS, Stripe, Worldpay, Amazon Pay, Braintree, etc. Each of them, however, has its drawbacks. These payment gateways are expensive, some don't provide ready-to-use plug-ins for quick integration, and some only accept a small number of payment types. Furthermore, none of them customize their services to your needs and requirements. Additionally, they are restricted to solely providing their services to regulated sectors.

On the other hand, PayCly is a PSP with the lowest rates in the nation and provides a variety of pricing models, so you may select one that best suits your requirements. We accept 100+ payment options, including credit cards and cryptocurrencies. PayCly also has PCI-DSS compliance (level 1) certification and offers the greatest level of security using AI & ML and 3D security authentication. We consider our merchants to be partners and provide them with a lot of support. Because we fulfill our goal of giving you the finest service possible, PayCly is becoming a leader in the payment sector. The following are some noteworthy qualities that we possess:

Benefits You Get by Acquiring PayCly’s Payment Gateway

Frequently Asked Questions (FAQ)

What are the Differences between Payment Gateways and Merchant Accounts?

A payment gateway is a technology that enables payment transactions by transmitting payment details securely. On the other hand, a merchant account act similarly to a bank account that accepts, holds, and withdraws the payment credited by the buyer for your goods and services. PayCly offers you all payment solutions, including international payment gateways and high-risk merchant accounts.

What Other Payment Solutions Does PayCly Provide in Addition to its Payment Gateway?

PayCly provides you with every payment solution that your business needs. In addition to payment gateways, we offer a complete range of payment services, including credit card processing (card not present payment), high-risk merchant accounts, and offshore merchant accounts. PayCly supports all regulated or unregulated industries, and we've developed a few merchant accounts with high-risk characteristics and industry-specific features. We are entirely experienced in providing payment gateways and merchant accounts to the following sectors:

Casino Merchant Account Forex Merchant Account
E-Commerce Merchant Account Fantasy Gaming Merchant Account
Escort Merchant Account Adult Toys Merchant Account
IPTV Merchant Account E-Cigarettes Merchant Account
Tobacco Merchant Account SMM Panel Merchant Account