DBS Aims to Double Cross-Border Consumer Market Share

DBS Aims to Double Cross-Border Consumer Market Share

Singapore-based DBS is looking to grow its market share in cross-border consumer flows with plans to deepen links with mainland China.

DBS is aiming to double its market share in cross-border consumer flows in its core markets – Singapore, Hong Kong, mainland China, India, Indonesia and Taiwan – from 10 percent to 20 percent by 2030, according to a «Business Times» report citing group head of consumer banking Sanjoy Sen.

This will involve boosting the volume of flows from transactions like remittances and travel spending to S$100 billion ($79 billion). Since 2022, the Singapore lender has grown this figure annually by 15 percent, which is double the industry average.

«We see cross-border [payments] being a very important part of our Asia business, and we want to be a dominant player in this area,» Sen said.

China Corridor

One major contributor to growth will be the China payment corridor, which Sen called a «huge opportunity» that is rapidly expanding.

The bank is keen to explore partnerships such as the tie-up it signed in November 2025 to have its payment platform PayLah! joined Ant’s Alipay payment ecosystem, enabling more than 3 million users to make QR code payments to over 150 million merchants in more than 100 markets. It is also introducing seamless same-day transfers for DBS customers in China in the second half of 2026 by digitizing the entire outbound remittance process.

«When the service is rolled out, we expect to be solidly placed at the forefront of China outbound remittances,» added P’ing Lim, regional head of ecosystems and cross-border payments at DBS' consumer banking group.