|
|
|
|
Singapore’s credit and charge card payments market is projected to grow by 9.2% to reach SGD116.8 billion ($88.4 billion) in 2026. This growth is being driven by a confluence of factors including widespread card acceptance, a near-100% banked population, and increasing adoption of contactless cards, according to GlobalData, a leading intelligence and productivity platform.
GlobalData’s Payment Cards Analytics reveals that the credit and charge card payment value in Singapore registered an estimated growth rate of 7.6% in 2025, to reach SGD107 billion ($80.9 billion), driven by the rise in consumer spending.
Poornima Chinta, Senior Banking and Payments Analyst at GlobalData, comments: “While debit cards also enjoy strong usage, especially in everyday transactions, credit and charge cards have pulled ahead through superior value-added benefits, instalment options, cashback, and rewards programs. Regulatory backing, high public awareness of payment cards, robust merchant acceptance, and infrastructural enhancements including broader contactless card penetration are all reinforcing their lead.”
Rewards, discounts, and flexible payment schemes play a key role in driving credit and charge card usage in Singapore. Banks such as UOB offer instalment plans for online purchases over three, six, 12 or 24-month periods with 0% interest at partner merchants, while Citibank’s Citi SMRT card delivers up to 5% cashback on purchases in stores and online.
A well-developed POS infrastructure is also supporting the rise of credit and charge cards. Singapore boasts one of the highest number of POS terminals per million inhabitants in the Asia-Pacific region, which stood at 62,551 in 2025, significantly higher compared to some of its peers such as Malaysia (29,093), Hong Kong (27,992), and Thailand (13,017).
Regulatory and policy developments are also enhancing the environment for credit and charge card payments. Initiatives such as the Productivity Solutions Grant support SMEs with subsidized POS installations (up to 50% funding from April 2023), increasing merchant acceptance.
Chinta concludes: “Credit and charge card payments in Singapore are poised for steady growth over the next five years, underpinned by the expanding e-commerce adoption, a well-developed payment infrastructure, attractive rewards and instalment offers, and robust regulatory support. The credit and charge card market is expected to grow at a CAGR of 7.8% between 2025 and 2029 to reach SGD144.2 billion ($109.1 billion) in 2029.”
Notes
Quotes provided by Poornima Chinta, Senior Banking and Payments Analyst at GlobalData
Information is based on GlobalData’s Payment Cards Analytics
About GlobalData
GlobalData operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change. By uniting proprietary data, human expertise, and purpose-built AI into a single, connected platform, we help organizations see what’s coming, move faster, and lead with confidence. Our solutions are used by over 5,000 organizations across the world’s largest industries, delivering tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth.
Airways New Zealand has today announced its interim results for the half year ending 31 December 2025, reporting strong safety and operational performance alongside a stable financial result.
Airways safely managed 243,785 flight movements across the airspace it controls during the period, with no Category A serious air proximity events attributable to Airways and no WorkSafe notifiable safety events involving its people.
The air navigation services provider recorded a net operating profit after tax of $12.2 million for the half year. The financial result reflects lower expenditure for the period, with operating costs reduced through lower employee related, equipment, travel and corporate expenses. Capital expenditure was also below budget, primarily due to timing delays across several major programmes. These timing shifts are expected to ease as key milestones are reached early in 2026, bringing spend back in line with budget.
Airways Chair Darin Cusack says performance over the reporting period demonstrates continued progress against long-term strategic priorities.
“Safety remains at the centre of everything we do and our performance over the last six months is a testament to the professionalism of our people and the strength of our safety systems.
“We are pleased to report a stable financial result supported by prudent cost management. These foundations position us well as we continue investing in the capabilities needed for a resilient, future ready aviation system,” he says.
Alongside strong operational performance, Airways continued to advance the ‘build’ phase of its 10‑year Safe Skies Today and Tomorrow strategy, Airways CEO James Young says.
Key initiatives underway include the development of a remote aerodrome flight information service for Milford Aerodrome, the rollout of enhanced tower surveillance capability, and a clean slate review of managed airspace architecture to leverage modern surveillance and air traffic management technologies.
“We are making strong progress across our future services programme and broader strategic initiatives. These include enhancements to system resilience, modernisation of our airspace architecture, and continued development of our people and technology capabilities,” Mr Young says.
Collaboration with industry partners and government agencies continues to be central to this work, ensuring we can meet the evolving needs of all airspace users.”
Airways International Limited (AIL), the Group’s commercial subsidiary, also advanced its growth strategy during the period, including strengthened partnerships and new multi‑year agreements for training and simulation services.
The report is available to read here: https://www.airways.co.nz/assets/Uploads/Airways-New-Zealand-Interim-Report-December-2025.pdf
New modelling suggests green hydrogen will play a very limited role in cutting New Zealand's industrial emissions before 2050.
Green hydrogen could help cut New Zealand's industrial emissions, but University of Auckland modelling suggests it's unlikely to make a dent by 2050, with electrification doing most of the heavy lifting.
This is mainly due to costs, infrastructure, policy and behavioural factors, according to research led by Business School masters student Geordie Reid.
“New Zealand has committed to net-zero greenhouse gas emissions by 2050,” he says. “One of the toughest elements of this commitment is decarbonising industrial process heat; the coal- and gas-fired heat used to produce things like milk powder, steel and cement.”
It's in this area that green hydrogen can play a role, albeit a limited one, according to Reid and the co-authors.
Under realistic assumptions, says Reid, green hydrogen doesn't emerge as a cost-effective option.
“However, if technologies rapidly develop and become more cost-competitive relative to alternatives, such as electrification, our results show a shift towards green hydrogen for supplying high-temperature process heat.”
Even then, the role of green hydrogen would be limited according to the modelling, potentially supplying about 12 percent of industrial process heat energy by 2050 in the most optimistic scenario.
The researchers point out that because green hydrogen is expensive, it becomes more attractive when carbon prices are higher, renewable electricity is cheaper, and hydrogen technology costs decline. In those scenarios, they say hydrogen can play a complementary role in helping New Zealand reach net zero emissions. “But in most other cases, electrification is still the key.”
Co-author and Business School research fellow Selena Sheng says, compared to direct electrification, hydrogen technologies exhibit lower overall efficiency due to energy losses occurring at multiple stages across production, storage, transport, and end use.
“There are three main ways to bring green hydrogen costs down in the future. Firstly, we've got to have cheaper renewables, possibly through increasing wind and solar power.”
The second avenue, says Dr Sheng, is to develop more affordable methods for producing green hydrogen through a process called electrolysis. This can be achieved by scaling up manufacturing, improving efficiency, reducing reliance on rare, costly materials, and sourcing lower-cost renewable electricity.
“Third, we need to achieve greater economies of scale in production; larger projects will further reduce costs.”
Adding to this, energy economist Professor Basil Sharp says the modelling helps clarify what needs to change for hydrogen to grow into a meaningful part of the energy system.
“Green hydrogen is like the new kid on the block in terms of technology, so the unit costs are high relative to other forms of hydrogen.
“Practically, what governments can do is remove the barriers to adoption. One of the barriers early on was the absence of industrial standards regarding the transportation of hydrogen. Providing appropriate industry standards creates room for growth.”
Co-author and senior economics lecturer Le Wen points out that New Zealand's high share of renewable electricity gives it an advantage in producing green hydrogen.
“Green hydrogen is 'green' because it's produced using energy from renewables. New Zealand is well placed in terms of green hydrogen because more than 80 percent of our electricity is already renewable, but cutting national emissions also means tackling industry, which still relies heavily on coal and gas for process heat.”
Dr Wen says that if New Zealand invests in and scales up its green hydrogen production, the country could become a leader in genuinely low-emissions hydrogen.
“It may not solve everything on its own, but it could give the country a strong new export opportunity.”