Singapore-based online payment platform Internetworks has joined a growing list of companies offering digital payments in the country, joining a growing number of other major tech firms.
The company has already signed up more than 300,000 customers to the digital payments service, which provides free online shopping, credit cards, loyalty cards, travel and insurance products.
Internetworks is the largest e-commerce company in Singapore, according to the latest report by the Internet Industry Association (IIA), a trade group.
The Singapore-listed company has a market capitalization of more than US$5 billion, according the IIA report.
InternetWorks, which is also known as ESI, says it is the only payment network offering mobile payments for customers to use in Singapore.
The payments service is available in over 100 cities, including Singapore, Hong Kong, Singapore, Malaysia and the United States.
The announcement follows other moves by major tech companies to expand their presence in the Southeast Asian country.
Google recently added digital payments to its Android operating system, while Facebook recently announced it will expand its services to Singapore.
Google, Facebook and Amazon are among the companies already participating in the e-payment platform, which offers free online travel, insurance, and travel and accommodation products.
Internetworks has been one of the few companies that have not only offered online shopping services, but also offered loyalty cards for its customers.
The loyalty cards are designed to be redeemed online for various discounts and rewards, according a company spokesperson.
The service has more than 40 million customers, the spokesperson added.
The digital payments company has also started accepting credit cards.
Its mobile payments have been accepted in more than 150 cities in Southeast Asia, according its website.
Internetworks is also the third largest ecommerce company and one of only two listed companies in Singapore with total annual sales of more, the IIa report showed.
The country is a major hub for online commerce, with online shopping accounted for more than 80% of total sales in 2016.
The country’s economy is forecast to grow to $9.6 trillion by 2021.