Chart of the Day: Check out which bank has the most number of credit card users in Singapore

Around 1 in 4 uses a credit card from DBS.

Online shoppers pay with credit cards to maximise savings and rewards. Several payment methods are available to online shoppers in Singapore. However, in a recent survey by SingSaver and Shopback, 79% of those surveyed prefer to use credit cards, followed by Paypal at 12% and eNETS at 3.8%. Cash-based payments like cash on delivery (2.30%) and direct bank transfers (2.04%) were found to be the least popular methods.

The survey revealed that among credit card users, 67% prefer Visa, while 27 % use Mastercard and 6% use American Express. The most widely-used credit cards were from DBS (26%), OCBC (22%), Citibank (17%), and UOB (15%). Besides being convenient, shoppers use credit cards because of the savings or rewards they can earn from their purchase. 83% of those surveyed say they pay with a credit card that gives them discounts or points for online purchases.

For flights and hotels, only 72% of respondents use a card that gives rewards for online travel bookings, likely because most air miles credit cards have high minimum income requirements. However, all major card issuers generally have discounts for hotel booking sites like Agoda and hotels.com.