Latest News

DBS PayLah! Users Can Continue Getting Up To S$3 Cashback At Hawker Stalls On Fridays Until July 2024

DBS/POSB Extends PayLah! 5 Million Hawker Meals Cashback Initiative Until July 2024

DBS/POSB will extend its 5 Million Hawker Meals initiative for another six months in light of the rising costs of living, the bank said on Wednesday (17 Jan).

The initiative allows PayLah! users to get up to S$3 cashback when they’re among the first 100,000 to pay for their meals with the app every Friday at over 11,600 hawker stalls by scanning SGQR codes.

Image courtesy of DBS/POSB

According to the findings of a Singapore Index of Inflation Expectations (SInDEx) survey, inflation is still high and expenses will “increase slightly” over the next 12 months amid a slight negative impact on Singapore’s economic growth.

DBS/POSB extends hawker meal subsidies via PayLah! cashback to July 2024

In a press release, DBS/POSB stated the initiative will continue until 26 July 2024.

It estimates that a total of 7.5 million hawker meals will be subsidised over the 18 months since the start of the initiative.

The bank explained that hawker food inflation had slowed in November 2023 compared to a year ago but remained at 4.3% year-on-year.

Singaporeans are still affected by general cost-of-living pressures along with geopolitical conflicts.

“We’re heartened that the weekly hawker meal subsidies have made a positive impact on our customers and hawkers over the past year,” said Han Kwee Juan, Acting Chief Information Officer and Singapore Country Head at DBS.

“While we do see cautious signs of recovery on the horizon for 2024, we’re aware that ongoing economic uncertainties and inflation continue to be a concern for many.”

Our hope is that the subsidies will continue to provide some relief to those looking to better manage their everyday expenses and support our hawkers.

Almost 5 million subsidies redeemed since launch in February 2023

First launched in February 2023 as part of a batch of support measures for customers, the 5 Million Hawker Meals initiative was supposed to last a year.

 

DBS/POSB also noted that close to five million hawker meal subsidies have been redeemed so far.

33% of those who received the subsidies are either senior citizens and/or people who earn less than S$2,500 a month.

DBS/POSB revealed that the three most popular hawker centres where people made redemptions were:

  • Amoy Street Food Centre
  • Pasar 216 Bedok Central
  • Boon Lay Place Food Village

Meanwhile, the three most popular stalls were:

  • Hup Lee Cooked Food (Toa Payoh West Market & Food Centre)
  • Tian Bo Shui Kueh Pte Ltd (84 Marine Parade Central Hawker Centre)
  • Hawstar (Kampung Admiralty Hawker Centre)

Benefits both customers & hawkers

Ms Elayne Ang, co-founder of Tian Kee Carrot Cake at Marine Parade Central Market and Food Centre, said that they have seen a 10% to 15% jump in crowd traffic every Friday thanks to the initiative.

She added that it’s heartening to see how the initiative has indirectly encouraged more seniors to learn how to use digital payments.

“We do see more seniors using the subsidy at our stall, which sometimes sparks others in the queue to want to learn how to redeem it too!” she shared.

Image courtesy of DBS/POSB

Echoing Ms Ang, DBS/POSB said the initiative has helped equip the less digitally savvy with key skills.

Other community efforts by the bank include DBS Foundation’s strategic partnerships with SG Enable (SGE) and the Ministry of Social and Family Development (MSF).

They are working together “to improve the lives and livelihoods of persons with disabilities and lower-income families respectively” and “equip them with the support, know-how and opportunities to face the future with greater confidence”.

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image courtesy of DBS/POSB.

Jonathan Yee

Jonathan is a bedroom headbanger. His Kobo is never far from him.

Recent Posts

British man allegedly verbally abuses airline staff at Changi Airport after losing phone, will be charged

He allegedly became abusive when told that he would be taken off the flight if…

17 Mar 2025, 1:06 am

70-year-old motorcyclist sent to hospital after accident with car in Bartley, driver arrested

The female car driver, 30, was arrested for careless driving without due care and attention…

17 Mar 2025, 12:15 am

Ex-national runner Renuka Satianathan dies aged 37, represented S’pore at 2 SEA Games

She was cremated at Mandai Crematorium on Sunday (16 March).

16 Mar 2025, 10:58 pm

4-year-old boy in Japan dies from falling off 3rd-floor hotel window, father left him to go late-night shopping

His father found him on the street and reported the incident to the police.

16 Mar 2025, 5:42 pm

Malaysia Airlines flight forced to turn back after engine catches fire mid-air

The incident is believed to be due to a bird strike.

16 Mar 2025, 5:26 pm