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Singapore’s cheque volumes have fallen 80% but some users aren’t writing them off yet
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The number of cheques denominated in Singapore dollars declined about 80 per cent, from 61 million in 2016 to fewer than 14 million in 2023.
PHOTO: TNP FILE
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SINGAPORE – Writing cheques has become a thing of the past for most people in Singapore as the country increasingly adopts digital payment methods such as PayNow and mobile wallets.
The number of cheques denominated in Singapore dollars declined about 80 per cent, from 61 million in 2016 to fewer than 14 million in 2023, noted the Monetary Authority of Singapore (MAS) in December.
