DBS has introduced Programmable Rewards, a digital voucher solution powered by smart contracts and the bank’s private blockchain.
The feature is now available through the DBS PayLah! app and can be used at over 40,000 NETS QR acceptance points across Singapore, including many small and neighbourhood businesses.
The solution is part of DBS Token Services, which integrates tokenisation and smart contract capabilities into the bank’s transaction banking offerings.
It allows organisations to issue and manage digital vouchers with specific rules, such as merchant eligibility or validity periods.
These conditions are automatically verified at the point of use, and payments are processed through existing infrastructure such as NETS, simplifying settlement and reconciliation.
As part of the launch, DBS and POSB credit cardholders can redeem DBS Points or POSB Daily$ for DBS Rewards Flexi eVouchers through PayLah!.
These vouchers can be used at any merchant with a valid NETS QR with SGQR label.
From 1 August to 30 September 2025, customers who redeem 6,000 DBS Points for an S$60 voucher will receive an additional S$60 cashback as part of an SG60 promotion.
The product builds on DBS’ involvement in Project Orchid, a multi-year initiative by the Monetary Authority of Singapore exploring programmable money and a potential digital Singapore dollar.
DBS has previously trialled programmable government vouchers and business grant disbursements in partnership with public agencies.
Han Kwee Juan, Group Head of Institutional Banking at DBS, said,
“Programmable Rewards showcases the potential of DBS’ one-bank proposition. By integrating our consumer and institutional banking capabilities with smart contracts and blockchain technology, we have created a transformative platform to rapidly launch and scale digital voucher programmes.
This platform’s extensive reach, connecting millions of consumers with a vast network of merchants across Singapore, establishes a powerful ecosystem for impactful and scalable digital interactions. Programmable Rewards is a highly versatile solution.”
Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik
