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DBS Reached Out To 3,000 Businesses To Accept Cashless Payments

Since the announcement of its Smart Nation Ambassador Programme (SNAP) on 5 May 2017, DBS Bank has reached out to nearly 3,000 cash-based merchants here less than a month after the launch of the SNAP cashless payment drive. Some 400 merchants are coming onboard and more are in the process of getting started.

DBS Bank has since recorded 3,000 QR code transactions processed via DBS PayLah! since the launch of its QR code function on the app. As part of the SNAP initiative, it will also partner ComfortDelGro Taxi to implement QR code payments in its fleet of 16,300 taxis by 3Q 2017. Altogether, the bank aims to have more than 60,000 QR code payment acceptance points available to customers by the end of 2017.

Moving ahead, the convenience of making cashless payments with QR code is poised to expand swiftly in Singapore. OCBC Bank has introduced the QR code payments feature on its OCBC Pay Anyone app, which allows its customers to use this quick and secure cashless mode of payment at more than 1,000 merchants from 1 June 2017. The bank is also targeting to make QR code payments available at more than 50,000 NETS terminals across Singapore by the end of the year.

Read more on this Lianhe Zaobao story here.