Ready to let your customers pay by card? It's a game-changer for any business, and getting started is easier than you think. Accepting cards opens the door to mobile wallets like Apple Pay and captures sales you might have otherwise lost.

Your Fast Track to Accepting Card Payments

For businesses in Singapore, card payments are essential for survival and growth. Customers expect the convenience of a quick tap or swipe for any purchase. If you can't offer that, you're leaving money on the table.

The numbers prove it. In 2024, card payments made up SGD 148.91 billion at points of sale in Singapore. Credit cards accounted for SGD 55.14 billion and debit cards followed closely at SGD 54.54 billion.

This is a huge market share you could be missing. People love using cards for everything, and you can learn more about these trends in PwC's fantastic payments report.

Card Acceptance Methods at a Glance

So, how do you get started? The main choice is between a traditional hardware terminal and a modern, software-based solution. Each option has different costs, speeds, and mobility.

A traditional terminal is like a reliable delivery van—it gets the job done but stays parked at your counter. A software solution is like a scooter, perfect for making sales on the fly with a fast setup.

This table breaks down the main differences to help you choose.

Choosing how your customers pay by card should make your life easier. The right solution is out there, whether you run a cafe or a weekend market stall.

Think Card Payments Are Just a ‘Nice to Have’? Think Again.

When a customer enters your shop, they often look for the Visa and Mastercard logos. It’s more than a payment option; it's a sign of trust and professionalism. It shows you’re a serious business ready to serve them.

Without it, you put up a "closed" sign to a huge group of potential customers. Think about international tourists and business travellers who rely on credit cards. To them, a "cash-only" sign means you're not an option.

You also shut out savvy local shoppers who collect points and love contactless convenience. For them, not being able to pay by card is a deal-breaker. They will simply find a competitor who accepts their card.

The Tap-and-Go Revolution is Here

The way people pay in Singapore has completely changed. Customers now expect to tap their card or phone for everything. Cash is quickly becoming obsolete for daily spending.

This is a massive behavioural shift. A staggering 80% of consumers in Singapore now regularly use contactless payments. In 2024, cash accounted for just 13% of face-to-face transactions.

You can learn more about this payment revolution in Antom's comprehensive Singapore guide.

Accepting card payments is no longer about staying ahead of the competition. It's about meeting the absolute basic expectation of today's customer.

Stop Seeing Fees as a Cost. Start Seeing Them as an Investment.

It’s easy to view the small transaction fee on card payments as a cost. That mindset holds your business back. That fee isn't a loss; it's an investment to secure a sale you would have otherwise missed.

Here’s what you get for that small fee:

• Bigger Sales: Customers spend more when not limited by cash.

• Simpler Operations: Less cash means less counting, fewer bank trips, and better security.

• More Customers: Tourists, corporate clients, and cashless locals can all buy from you.

When you see card acceptance as a tool for growth, the fee becomes the small price for bigger sales. It is a direct investment in your business's success.

Choosing Your Path to Card Payments

You're convinced that accepting cards is a must-have for your business. The next step is deciding how to let customers pay by card. The technology isn't as intimidating as it sounds.

There are a few main choices, each with a different mix of cost and convenience. Let’s look at the three main ways you can get set up.

The Classic Route: Traditional EDC Terminals

These are the familiar, chunky machines you see on counters everywhere. The traditional Electronic Data Capture (EDC) terminal is a workhorse, built to handle high transaction volumes reliably.

But that reliability comes with downsides. EDC terminals often involve rental fees, long applications, and are tethered to your counter. They are a solid option for fixed storefronts but offer no mobility.

The Mobile Bridge: mPOS Card Readers

Next is the mobile Point of Sale (mPOS). This solution pairs a small, separate card reader with your phone or tablet via Bluetooth. This frees you from the sales counter.

mPOS systems are popular with mobile businesses like food trucks or pop-up stalls. The only catch is that it's one more piece of hardware to charge, pair, and carry. It’s a good middle-ground option.

The best payment solution is the one you already have with you. Modern technology now lets you accept payments directly on your phone, making separate hardware a thing of the past for many small businesses.

The Game-Changer: Software POS (SoftPOS)

This is where things get exciting for small business owners. Software POS (SoftPOS), or Tap to Phone, turns your smartphone into a secure payment terminal.

That's right: no extra hardware is needed. Customers simply tap their contactless card or mobile wallet on your phone to pay. This is a massive leap forward in payment technology.

This approach gives you total freedom with almost zero friction.

• Zero Hardware Costs: Use the device you already own.

• Ultimate Mobility: Accept payments anywhere with a phone signal.

• Instant Setup: Digital signup is incredibly quick.

For freelancers and market vendors, this is a total game-changer. It removes the final barrier, making it easy to start accepting card payments immediately. See how it works in our deep dive into Tap to Pay on iPhone.

Decoding the True Cost of Card Payments

What will it really cost to let customers pay by card? The answer is simpler than it seems once you understand the components.

Think of it this way: each payment travels on a secure digital highway from the customer's bank to yours. The fee you pay is the "toll" that keeps this highway running smoothly and securely. Understanding this toll helps you find a fair payment partner.

The Main Fee: The Merchant Discount Rate

The most important fee is the Merchant Discount Rate (MDR). This is the main fee you'll pay on every card transaction, charged as a small percentage of the sale.

For example, if your MDR is 2% and a customer spends $100, the fee is $2. You receive the remaining $98 in your bank account. This single rate covers all associated costs.

The MDR is essentially the all-in-one fee that makes card payments happen. It’s the price you pay for convenience, top-notch security, and locking in a sale you might have otherwise lost.

Watch Out for Hidden Costs

While the MDR is the main fee, some providers add extra charges. This is especially true for traditional terminal providers. Be aware of what to look for.

Stay alert for these common extras:

• Setup Fees

• Monthly Terminal Rental

• Lock-in Contracts

• Minimum Volume Fees

Modern Tap to Phone apps are changing the game. Most come with zero setup fees, no monthly costs, and no lock-in contracts. Our guide to payment processing fees can help you spot honest pricing and avoid surprises.

Using PayNow and Cards for Maximum Sales

The winning move for a Singapore business isn't choosing between PayNow and cards. It's embracing both as a powerhouse team. Each plays a crucial role in helping you grow.

PayNow is brilliant—it's free, instant, and popular with locals. But relying only on PayNow means turning away customers who can't or prefer not to use it. This is where letting customers pay by card becomes your secret weapon.

The Perfect Payment Partnership

Think of it as having the best of both worlds. You get the zero-cost benefit of PayNow for local customers. At the same time, you open your doors to a new crowd who prefer to use cards.

Without card payments, you might miss out on:

• Tourists and International Visitors: They have credit cards but no access to local banking apps.

• Corporate Clients: Business expenses almost always go on a company card.

• Points-Chasing Shoppers: These customers actively seek places to earn rewards.

Offering both shows you’re a flexible, customer-first business. You are ready for anyone who walks through your door and never have to turn down a sale.

From PayNow-Only to All Payments

Many small businesses skipped cards and moved from cash straight to PayNow. That made sense when card payments were expensive and complex. Things have changed.

Adding card payments is now simple and affordable with Tap to Phone solutions. You can start accepting cards on your smartphone in a single day. Keep your PayNow QR code and just add another way for customers to pay.

You don't have to overhaul your entire workflow. Just add the ability to pay by card as another convenient option for your customers. This one small adjustment can unlock a massive new slice of the market.

This approach lets you capture every sale, from a local transfer to a larger purchase from a visitor. If you need a refresher on PayNow, check our guide on using PayNow QR codes for your business. Combining its strengths with cards creates a flawless experience.

So, How Does nashi Make Card Payments Radically Simple?

Tired of saying "no" when a customer asks to pay by card? That's why we created nashi. We believe every Singaporean business deserves to make every sale.

We've removed the usual hassles—no clunky hardware, confusing contracts, or long waits. Nashi turns your phone into a card terminal so you can let customers pay by card. Instantly.

Get Up and Running in a Single Day

Forget the old way of filling out paperwork and waiting weeks for a terminal. With nashi, the entire sign-up process is digital and done from your phone.

You can decide to accept cards in the morning and take your first payment by the next day. This is a game-changer for pop-ups and any business that needs to get selling fast. We’ve cleared the hurdles so you can focus on your business.

We built nashi to finally give small businesses a fair shot. Traditional card payment systems are often too complicated, too slow, and way too expensive. We think accepting cards should be as easy as downloading an app from the App Store.

Freedom From Fees and Clunky Hardware

This is the best part. nashi liberates you from the costs and commitments of old-school payment providers. Here’s what you get:

• Zero Hardware Costs: Your smartphone is all you need.

• No Monthly Fees: You only pay a small fee when you make a sale.

• No Lock-in Contracts: Stay with us because it works, not because you’re stuck.

Our pricing is simple: a single, transparent rate per transaction. No hidden fees, no surprises. You'll always know exactly where you stand.

Built For Your Hustle, Wherever It Takes You

nashi is the perfect partner for mobile businesses, freelancers, and solo entrepreneurs. Are you a personal trainer, a home baker at a weekend market, or a tutor? Nashi goes where you go.

Letting customers pay by card professionalises your operation. In Singapore's cashless society, it’s essential. The local payments market is predicted to grow from USD 24.12 billion in 2025 to USD 50.37 billion by 2033.

That's a wave you can't afford to miss. You can explore the forecast on MarketDataForecast.com to see the numbers yourself.

FAQ: Your Pay By Card Questions Answered

Is it expensive for a small business to accept card payments?

Not anymore. While traditional terminals had rental fees and hidden costs, modern solutions have changed the game. Tap to Phone apps like nashi have no monthly fees or hardware costs, just a small, transparent fee per transaction.

How quickly can I get set up to accept cards?

It depends on the method. Traditional bank terminals can take days or weeks with paperwork and delivery. In contrast, a modern SoftPOS app allows for digital signup, with approval often within one business day.

Are payments on a phone as secure as a traditional terminal?

Yes, absolutely. Tap to Phone technology uses the same secure, encrypted payment networks as traditional terminals. These apps are fully certified to meet global security standards, and no card data is ever stored on your phone.

Can I accept both card payments and PayNow?

Yes, and you should. Offering both PayNow and cards gives customers maximum flexibility. You can cater to locals who prefer PayNow and also capture sales from tourists and business clients who rely on cards.

What kinds of cards and payments can I accept?

Most modern solutions allow you to accept all major contactless credit and debit cards, like Visa, Mastercard, and American Express. They also seamlessly process payments from mobile wallets such as Apple Pay and Google Pay.

Ready to stop turning away customers and make your sales smoother? nashi turns your smartphone into a payment terminal in minutes—no hardware and no monthly fees. Get started with nashi today.