Stripe Adds GCash, Touch ’n Go, and PromptPay for Singapore Businesses
Stripe has expanded its payment offerings for Singaporean businesses, adding six Asian payment methods including GCash, Touch ’n Go, and PromptPay. This move coincides with Stripe's tenth anniversary in Singapore, where over 80,000 businesses currently use its platform. More than 60% of these businesses engage in international sales. Stripe also introduced Managed Payments, allowing digital businesses to sell in 195 countries without local entities, handling taxes, disputes, and fraud protection. The company plans to launch its full Treasury service in Singapore by early 2027, enabling businesses to manage and spend funds in multiple currencies.
Stripe's expansion of payment methods and cross-border services in Singapore points to a clear strategy: deepening its infrastructure for Southeast Asian digital commerce. The addition of local payment options like GCash and PromptPay directly addresses the fragmented payment landscape in markets such as the Philippines, Malaysia, and Thailand. This move simplifies transactions for Singaporean businesses selling into these regions, potentially boosting cross-border revenue by an average of 17.8% as Stripe claims with its Adaptive Pricing tool. The real story is not just about new payment methods, but Stripe's long-term play in enabling global sales for Asian SMEs without the burden of local entity setup. The Managed Payments service, covering taxes and fraud, removes significant friction for businesses looking to expand internationally from Singapore. The upcoming 2027 launch of Stripe Treasury in Singapore, allowing multi-currency balances and supplier payments, further solidifies its role as a comprehensive financial platform for regional businesses, positioning it against traditional banking services for digital-native companies.
