Tazapay Review: Features, Pricing & Benefits for Singapore Businesses in 2025

Looking for a payment solution to help your Singapore business go global? Tazapay might be on your radar. This Singapore-based fintech has been gaining attention for its cross-border payment capabilities designed specifically for businesses operating in emerging markets.

Singapore's position as a global trade hub means many local businesses are expanding internationally, particularly into fast-growing markets across Southeast Asia, India, and beyond. However, these expansions often come with big payment challenges: currency conversion costs, unfamiliar local payment methods, and the risk of fraud or non-payment when dealing with new partners.

These challenges are exactly what Tazapay aims to solve. Founded during the pandemic when cross-border commerce became even more complex, Tazapay has developed solutions to help businesses navigate international payments securely and efficiently.

In this Tazapay review, we'll break down its features, fees, and benefits to help you determine if it's the right fit for your business needs. Plus, we'll introduce another financial solution - Wise Business - that can complement Tazapay or serve as a standalone option for managing international payments with greater ease and fewer fees.

What is Tazapay?

Tazapay is a Singapore-based fintech company that provides cross-border payment solutions for businesses. It began in 2020 as a payment gateway, but has evolved into a comprehensive platform designed to simplify international transactions and reduce risks for both buyers and sellers - for businesses that don’t rely on online transactions, as well as those that do.

The company offers several key services:

1. Credit cards available in 170+ countries
2. Local payment methods available in 100+ countries
3. Global collection accounts in 35+ currencies
4. Payouts to 70+ markets¹
5. Payment gateway for accepting payments from 173+ countries²
6. Escrow services for secure transactions
7. Buyer protection features

Put simply, Tazapay aims to solve the challenges that might hold many promising businesses back in these regions.

The No.1 challenge for businesses trading internationally? Trust.

By providing secure payment infrastructure alongside verification and escrow services, Tazapay has positioned itself as more than just a payment processor - it’s grown rapidly as a facilitator of safe cross-border commerce.

🔍 If you're exploring payment gateway options for your Singapore business, you might also be interested in our reviews of other popular solutions:

• Airwallex Singapore Review
• Stripe vs PayPal Singapore Comparison
• Payoneer Singapore Review
• Adyen Payment Review

How Tazapay works

Payment Gateway

Tazapay's payment gateway processes transactions through multiple payment methods, including major cards (Visa, Mastercard, American Express) and local payment options. This is particularly useful for businesses targeting customers who prefer local payment methods.

Some key local payment methods supported include:

• PIX for Brazil
• UPI for India
• GrabPay for Southeast Asia

While Tazapay advertises coverage across 173+ countries, it's worth noting that local payment method availability is limited to 100+ countries.

Global Collection Accounts

For Singapore businesses, Tazapay provides virtual accounts for receiving payments in 35+ currencies. These accounts allow your customers to pay you as if they're making a domestic transfer, which can significantly reduce their costs and improve conversion rates.

To access these accounts, your business must complete a verification process. Settlement cycles and maintenance fees vary depending on the country and currency pair.

Payouts

Tazapay supports both SWIFT and local bank transfers to 80+ markets. This gives you flexibility in how you pay suppliers, partners, or employees across the globe.

The fees for these services vary:

• SWIFT transfer fees: USD 5 to USD 35
• Local transfer fees: USD 2 to USD 5 per transaction

Processing times vary by destination and transfer method, but local transfers are generally faster and cheaper than SWIFT transfers.

Escrow Services

One feature that will be particularly attractive for businesses is Tazapay’s escrow service. It's simple - Tazapay holds your money until both you and your trading partner fulfil your obligations.

This is helpful when you're working with new partners or handling large transactions. The seller doesn't ship until the buyer pays, and the buyer's money isn't released until they confirm they've received what was promised.

If something goes wrong Tazapay will also help sort it out, which is much easier than trying to resolve issues across borders on your own. They also verify who's on both sides of the deal, adding an extra layer of security to your international transactions.

Tazapay pricing

Tazapay's fee structure varies depending on the service and payment method. Here's a summary of their main fees:

Details accurate as of 18th March 2025

As Tazapay’s foreign exchange rates are quote-based, rather than displayed live, you'll need to request a quote for each currency conversion, making it less transparent than some other alternatives.

Avoid high currency conversion fees with Wise Business

When managing international transactions, currency conversion fees can quickly add up, impacting your bottom line. Wise Business account offers a multicurrency account solution by providing currency conversion at the mid-market exchange rate, which is often more favourable than the rates offered by traditional banks or payment platforms.

Learn more about Wise Business

What type of Singapore business stands to benefit most from Tazapay?

Tazapay is versatile - but it specifically targets its services to:

• E-commerce businesses selling to emerging markets
• SaaS and digital service providers with global customers
• Import/export traders seeking secure transaction methods
• Singapore SMEs expanding into international markets
• Freelancers working with international clients

For example, you might like to use Tazapay if you're a Singapore e-commerce business looking to accept local payment methods from customers in emerging markets like India, Brazil, or Southeast Asia. Or you may want to use the services if you're an exporter or importer who needs the security of escrow services when dealing with new international partners. Because Tazapay supports both traditional and local payment methods across 170+ countries, it can be a good fit for many globally-minded Singapore businesses.

Conclusion

Tazapay has some great features for Singapore businesses, particularly those targeting emerging markets. We can summarise these as:

• Global reach: Accept payments from 170+ countries and make payouts to 80+ markets
• Local payment methods: Support for regional payment options makes it easier for international customers to pay
• Multi-currency support: Reduce foreign transaction costs with collection accounts in 35+ currencies
• Enhanced security: Escrow services and buyer protection features build trust in cross-border transactions
• Simplified compliance: Tazapay handles many of the complex cross-border payment regulations

However, there are some potential drawbacks to consider:

1. Limited transparency in foreign exchange rates due to the quote-based system
2. Manual processes required for certain services like FIRC requests
3. Varying user experiences with the interface and verification processes

These drawbacks are unlikely to be dealbreakers, depending on the scale of your business. But it is still recommended that you investigate the full nuanced fee structure, including potential foreign exchange markups, before you go ahead. A seemingly small rate change can have an impact on your margins. Remember to also consider the preferred local payment methods of your target market.

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