Shopify
Sell online, grow everywhere.
Shopify is an e-commerce platform that allows businesses to establish and manage online stores. In Singapore, Shopify Payments complies with the Payment Services Act 2019 (PSA) and MAS regulations, requiring enhanced identity and Know Your Customer (KYC) verification for users.
Singapore snapshot
Pricing (SGD incl. 9% GST)
S$1.47/mo
Free tier
Available
PSG grant eligible
Checking
PDPA compliant
Checking
SG / APAC data centre
No
SkillsFuture eligible
No
Stackd review
For personal use
Individuals, freelancers, students
Shopify enables individuals to quickly launch an online store with a free trial, offering integrated tools for building, selling, and managing their business. While comprehensive, new users should be aware of the detailed identity verification processes required for payment services in Singapore.
Pros
+Easy to start with a free trial for 3 days.
+Access to a comprehensive suite of tools for selling, marketing, and business operations.
+Integrated 'world's best checkout' optimized for conversion.
Cons
–Enhanced identity verification and KYC information required for Shopify Payments in Singapore.
–Requires providing personal details for connected parties and beneficial owners.
–Account impact (paused payments, termination) if requested information is not provided.
Singapore context
Personal users in Singapore must comply with local regulatory requirements for Shopify Payments, including enhanced identity verification via SingPass MyInfo or valid ID, ensuring secure and compliant online transactions.
For business & teams
SMEs, startups, MNCs
Shopify offers a robust e-commerce solution for businesses in Singapore, featuring comprehensive tools for building, selling, marketing, and managing operations. Its payment services adhere to the Singapore Payment Services Act 2019 (PSA) and MAS regulations, necessitating detailed identity and KYC information for regulatory compliance.
Pros
+Complies with Singapore's Payment Services Act and MAS regulations for payment processing.
+Enhanced identity verification and KYC processes provide regulatory certainty and consumer safeguards.
+Robust platform with features like the 'world's best checkout' and extensive app store for customization.
Cons
–Requires extensive KYC information for all directors and beneficial owners of the business.
–Account representatives must have authorized roles, possibly requiring letters of authorization.
–Failure to provide requested information can lead to paused payment processing or account termination.
Singapore context
Singaporean businesses using Shopify Payments are subject to strict MAS and ACRA regulations, requiring them to provide detailed information about their directors, beneficial owners, and account representatives to ensure compliance with AML/CFT requirements.
Pricing — Singapore view
Paid plan
From USD $1/mo
S$1.47/mo
incl. 9% GST
Free tier
Limited features
S$0
Alternatives
Singapore FAQ
Is Shopify available in Singapore?
Yes, Shopify Payments operates in Singapore and complies with the local Payment Services Act 2019, requiring specific identity and KYC verification.
Does Shopify support SGD pricing?
The provided search results indicate pricing in USD, and do not explicitly confirm support for SGD pricing or display prices in SGD. Users can start with a promotional rate of $1/month USD for 3 months.
Is Shopify PSG-eligible?
Based on the provided search results, there is no mention of Shopify being eligible for the Productivity Solutions Grant (PSG) in Singapore.
Is Shopify PDPA compliant?
The search results discuss compliance with Singapore's Payment Services Act (PSA) and MAS regulations for payment processing, but do not explicitly mention compliance with the Personal Data Protection Act (PDPA).
Does Shopify have a Singapore data centre?
The provided search results do not contain any information regarding the presence of a Shopify data centre in Singapore.
Ready to try Shopify?
Visit the official website to sign up or start a free trial.