PayPal launches Complete Payments to boost Singapore trade

PayPal has introduced PayPal Complete Payments for businesses in Singapore, offering a full-stack payments platform aimed at facilitating global sales and streamlining financial operations for merchants of various sizes.

The newly launched solution allows local companies to accept payments from customers in over 200 markets, settle transactions quickly, hold multi-currency balances, and implement enhanced fraud protection measures. PayPal Complete Payments is designed to support both small and medium-sized businesses (SMBs) and large enterprises with a single, customisable integration.

One of the core features of the solution is the acceptance of a wide range of payment methods. Merchants using PayPal Complete Payments can enable customers to pay with PayPal, Apple Pay, Google Pay, Visa, Mastercard, American Express, as well as popular local alternatives such as Alipay, iDEAL, and BLIK. This broad acceptance aims to increase conversion rates by giving consumers the flexibility to use their preferred payment option.

PayPal cites internal data showing that globally, businesses using the solution have seen an average increase of 4.7 percentage points in card authorisation rates. The company also references industry research indicating that combining PayPal Wallet and Apple Pay at checkout can drive up to a 17 per cent higher conversion rate.

Rapid settlement and multi-currency support are features intended to help Singapore businesses reduce their foreign exchange exposure and optimise cash flow. Transactions can reportedly be settled in minutes, and companies can manage balances in multiple currencies directly within the PayPal system.

To facilitate repeat purchases, PayPal Complete Payments supports secure storage of multiple payment methods in the PayPal vault, including a real-time account updater that refreshes card details if they are lost, stolen, or have expired. This functionality is intended to create a seamless shopping experience for customers and potentially reduce transaction declines for businesses.

Amid rising concerns of e-commerce fraud—PayPal notes recent attacks in Singapore have risen to more than five times the global average—the solution aims to offer businesses advanced tools for fraud protection. Fraud and Seller Protection are available on eligible transactions. The platform is also integrated with several e-commerce platforms, including Adobe Commerce, Big Commerce, and WooCommerce, to help businesses implement these services efficiently.

Nadia Syed, Senior Vice President, International Cross Border Trade and General Manager Asia Pacific at PayPal, said: "PayPal Complete Payments will give businesses here access to an extensive suite of new tools which will help them sell more effectively to global customers, in just one integration. It will also help businesses optimize their cash flow by enabling rapid settlement for transactions in minutes instead of days while also allowing them to hold multi-currency balances, reducing foreign exchange exposure."

She added, "Our latest product for businesses in Singapore is designed to help businesses boost customer conversion, drive revenue growth, and streamline operations—all while enhancing fraud protection, improving cost efficiencies, and simplifying cross-border transactions."

Businesses in Southeast Asia have faced an increasingly complex global trade environment, with higher tariffs and rising protectionism prompting many to reassess supply chains and explore new market opportunities. The ability to transact in a variety of locally preferred payment methods is becoming essential, as 70 per cent of consumers deem availability of their favourite payment option critical when choosing where to shop, according to PYMNTS research cited by PayPal.

G2G (Gamer2Gamer), a digital goods and services provider in the gaming industry, has already adopted PayPal Complete Payments to expand its global reach. Ken Chee, Group CEO and Co-Founder of G2G, commented: "PayPal Complete Payments with its transparent fees, instant settlements, and multi-currency support, empowers G2G to deliver a seamless and secure payment experience. Its advanced fraud protection minimizes risks in our cross-border transactions, enhancing operational confidence. This integration fuels G2G's expansion, fostering trust and stronger connections with our global gaming community."

PayPal states that its Complete Payments platform is intended to support local Singapore businesses in accessing international markets and responding to current e-commerce and security challenges through one streamlined payment solution.