S'poreans want online payments to overseas merchants simplified

But survey shows sellers struggle to identify payment modes that best cater to shoppers

- Prisca Ang

Consumers face friction when they buy items online from overseas merchants, according to a new survey.

Almost 80 per cent of Singaporeans feel the process of paying for goods and services online from international sellers should be simpler, showed the survey of 1,000 Singaporeans aged 18 and over conducted in June.

Merchants find it difficult to identify payment methods that best cater to customers and to determine what prices to set across various currencies, said Ms Eeke de Milliano, head of global product at payments giant Stripe, which commissioned the survey.

"You don't want to show your customers a hundred payment methods when they are checking out," she said. "You want to give them the one or the two or three payment methods - that are most relevant to them." Firms can look at factors such as the customer's location, basket size or past payments to determine the methods that work best, said Ms de Milliano, who was speaking at Stripe's annual conference in Singapore on Aug 28.