Almost half of B2B companies in SG incur cross-border fees ranging US$10-US$25
The rate is above the average observed in other markets, including the US and the UK.
Four in 10 business-to-business companies in Singapore incur fees ranging from US$10 to US$25 per cross-border transaction, data from Rapyd showed.
Some even incur around US$25-US$50 (26%) and over US$50 (14%) per transaction.
According to Rapyd, Singapore’s average cross-border transaction fees are above the “average observed across its surveyed markets, which include the United States and the United Kingdom.
Across other surveyed markets, only 36% of businesses face cross-border transaction fees within the same US$10 to US$25 range.
Rapyd warned that “elevated costs can hinder growth, limit expansion opportunities, and strain resources, posing a direct challenge to firms striving to capitalize on cross-border commerce and highlighting larger inefficiencies in the system.”
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