Razorpay, the Indian fintech giant, launches its world-class payment solutions in Singapore. Businesses in Singapore can access Razorpay Singapore’s suite of services, which includes payment gateway, cross-border transaction solutions, and real-time financial analytics. This will strengthen Razorpay's presence in the Southeast Asian market, besides its significant business presence in Malaysia. 

As the digital economies of Southeast Asian nations are set to emerge, Razorpay aims to capitalize on this emergence and subsequent growth to empower its business endeavors. Its presence will empower a seamless and bold innovation in the payment gateways market. 

Emerging Opportunity in Singapore

Southeast Asia's digital payments market is approaching a boom. It is set to exceed US$2T by 2030. Singapore, a leader in this shift, boasts 97 percent digital payment penetration, with real-time payments driving 40 percent of Southeast Asia's online transactions in 2024 alone. The country's digital payments market is set to reach US$180B by 2029, growing 2X.

At the same time, its e-commerce sector is projected to hit US$40B by 2028, solidifying its position among APAC’s top digital markets. Looking at a booming payments market set to emerge in Singapore, Razorpay aims to fulfill its business endeavors in the same pursuit.

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Opportunity in Singapore 

Singapore businesses face 4-6 percent cross-border payment fees, hindering growth in a digital-first market. Small and Medium Enterprises (SMEs) struggle with fragmented systems, high costs, and limited real-time access, restricting scalability and global reach.

Razorpay’s Solution 

Razorpay has introduced a suite of payment solutions to help Singaporean businesses scale faster with real-time payments, lower cross-border transaction fees by 30-40 percent, and drive multi-market expansion for the next generation of global-first businesses.

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With this launch, Razorpay seeks to close the technology gap between local and international payment gateways, allowing Singaporean businesses to transact smoothly across borders while enhancing business connections between India and Singapore.