More shoppers are paying digitally in Singapore’s heartlands, helping merchants lift their Saturday earnings by 50% since DBS brought back its PayLah! SG60 cashback campaign last month.
The increase outpaces the 40% boost seen in a similar programme last year.
The campaign, launched on 12 July, offers up to S$3 cashback for the first 160,000 people who scan to pay with PayLah! every Saturday at more than 22,000 participating shops, wet markets and hawker stalls.
In its first month, over 400,000 Singaporeans and residents redeemed about 800,000 rewards, pointing to strong repeat use.
Wet market stallholders have seen the sharpest gains. The number of customers paying via PayLah! on Saturdays has tripled, while overall spending has nearly doubled, continuing the trend observed during last year’s campaign.
The cashback programme is part of DBS’s SG60 initiative, which sets aside S$23 million in savings and support for customers and beneficiaries in Singapore.
Compared with the “POSB Support Our Heartlands” campaign in August 2024, the rewards pool has doubled, allowing more redemptions each weekend.
To drive further traffic, DBS has partnered with gamification platform Sqkii on the #HuntTheMouse – DBS SG60 Edition.
Running from 14 August to 25 September, the game hides 200 gold coins worth S$120,000 in heartland areas, with local businesses integrated as hunting stops or in-game pop-ups.
More than 30,000 people joined on the first day, with Jurong, Toa Payoh and Bedok among the busiest spots.
Beyond cashback, the bank is also working to help small businesses expand their reach.
In April, it became the first Singapore bank to support livestream selling, launching workshops under its Heartland Merchant Banking Package with TikTok and Boom Media.
Two workshops and three live sessions trained more than 70 participants in content creation, live presentation and customer engagement.
Stallholders say the initiative has brought in both regulars and new shoppers, including older customers who are more willing to try digital payments.
Families have also been spending more during weekend visits.
“As a homegrown bank, we are dedicated to supporting and celebrating the everyday heroes of our heartlands – the merchants who are an integral part of Singapore’s culture and heritage.
Through fun and rewarding initiatives like our weekly SGD 3 cashback and latest Hunt The Mouse game, we aim to encourage more Singaporeans to explore the unique charm of their neighbourhoods and, more importantly, support the local businesses that bring vibrancy and life to our heartlands,”
said Lim Him Chuan, DBS Singapore Country Head.
Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik
