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With the advent of Internet technology and its rapid growth during the last few years, electronic commerce has become an increasing reality. While e‐commerce still constitutes a small part of many countries’ economies, it is seen by many as an opportunity to reduce cost and improve productivity. This is true, as many economies are transferring themselves into knowledge‐based economies, where information and innovation are the competitive instruments. Singapore as a small country with limited natural resources realized the importance of the new economy and the need to position itself as an information and knowledge hub in Asia. The government has taken an active role in the establishment of an e‐commerce infrastructure. The government’s vision is to build a premier service hub in the region with global orientation, and focusing on new high growth hub services. This paper reviews the development of e‐commerce in Singapore and studies its impact on the development of the information society in Singapore.