DBS has launched Programmable Rewards, a digital voucher answer powered by good contracts and the financial institution’s personal blockchain.
The characteristic is now accessible via the DBS PayLah! app and can be utilized at over 40,000 NETS QR acceptance factors throughout Singapore, together with many small and neighbourhood companies.
The answer is a part of DBS Token Companies, which integrates tokenisation and good contract capabilities into the financial institution’s transaction banking choices.
It permits organisations to problem and handle digital vouchers with particular guidelines, equivalent to service provider eligibility or validity durations.
These circumstances are mechanically verified on the level of use, and funds are processed via current infrastructure equivalent to NETS, simplifying settlement and reconciliation.
As a part of the launch, DBS and POSB credit score cardholders can redeem DBS Factors or POSB Each day$ for DBS Rewards Flexi eVouchers via PayLah!.
These vouchers can be utilized at any service provider with a sound NETS QR with SGQR label.
From 1 August to 30 September 2025, prospects who redeem 6,000 DBS Factors for an S$60 voucher will obtain an extra S$60 cashback as a part of an SG60 promotion.
The product builds on DBS’ involvement in Mission Orchid, a multi-year initiative by the Financial Authority of Singapore exploring programmable cash and a possible digital Singapore greenback.
DBS has beforehand trialled programmable authorities vouchers and enterprise grant disbursements in partnership with public businesses.
Han Kwee Juan, Group Head of Institutional Banking at DBS, stated,
“Programmable Rewards showcases the potential of DBS’ one-bank proposition. By integrating our shopper and institutional banking capabilities with good contracts and blockchain know-how, we now have created a transformative platform to quickly launch and scale digital voucher programmes.
This platform’s intensive attain, connecting hundreds of thousands of shoppers with an unlimited community of retailers throughout Singapore, establishes a robust ecosystem for impactful and scalable digital interactions. Programmable Rewards is a extremely versatile answer.”
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by thanyakij-12 by way of Freepik
