Singapore is now the fastest growing Visa payWave market globally, announced Visa in a press statement today.
In August 2013, more than one million Visa payWave contactless transactions were made, representing 14 percent of all domestic face-to-face transactions.
Ooi Huey Tyng, Visa country manager for Singapore and Brunei, said the growth is the result of increased acceptance by retailers as well as increased consumer acceptance.
There are now more than 1.5 million Visa payWave cards issued in Singapore and more than 12,000 Visa payWave retail acceptance points across the republic.
"With strong support from the industry, the increase in the number of Visa payWave cards issued and acceptance points has provided consumers in Singapore with a more convenient payment option than cash. This upward trend will continue to gain momentum as we expand Visa payWave acceptance among small ticket merchants like food courts, fast food chains and cafes," said Ooi.
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