Up to S$3 cashback for PayLah! users at hawker stalls, heartland shops on Saturdays under new scheme by POSB
The Support Our Heartlands initiative, which also extends to participating wet markets, will run from Aug 1 to Dec 31.
Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong making payment at a bakery using PayLah! (Photo: POSB)
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SINGAPORE: POSB on Saturday (Jul 27) announced its new Support Our Heartlands initiative, which gives users of the DBS PayLah! app up to S$3 (US$2.23) cashback at participating heartland shops, wet markets and hawker stalls.
The POSB initiative will run from Aug 1 to Dec 31, and is an expansion of DBS' 5 Million Hawker Meals scheme, which ended on Jul 26. The scheme offered S$3 cashbacks at hawkers for up to 100,000 users on Fridays.
Under the Support Our Heartlands initiative, the first 75,000 people who scan to pay with the PayLah! app every Saturday will be able to receive the cashback. They can do so at over 22,000 participating heartland shops, wet markets and hawker stalls.
On any day of each month, shoppers at Sheng Siong supermarkets can get S$3 off eggs and rice respectively if they use their POSB debit or credit cards when purchasing. This is capped at the first 50,000 redemptions for each essential item per month.
The 5 Million Hawker Meals scheme has helped to subsidise about 8 million hawker meals, POSB added.
"Today, over 70 per cent of payments made via PayLah! scan to pay are on food and groceries from heartland shops and hawker stalls," POSB, which is part of the DBS Group, said in a statement.
"Among those who have used PayLah! to redeem the hawker meal subsidies, 33 per cent were seniors and/or earning less than S$2,500 a month. Participating hawkers also saw their weekly earnings increase by more than 15 per cent."
Mr Han Kwee Juan, DBS Singapore country head, said that the bank hoped to help Singaporeans and residents save more on their everyday spending with the Support Our Heartlands initiative, while also encouraging patronage of heartland businesses.
Both POSB and DBS added the bank would scale its digital and financial literacy programmes to more neighbourhoods, with more roadshows to bolster anti-scam awareness and financial planning literacy among seniors, families, and young children.
The Support Our Heartlands initiative was announced at a community event at Teck Whye Shopping Centre on Saturday, where Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong was present.
