Extra consumers are paying digitally in Singapore’s heartlands, serving to retailers raise their Saturday earnings by 50% since DBS introduced again its PayLah! SG60 cashback marketing campaign final month.
The rise outpaces the 40% enhance seen in an analogous programme final yr.
The marketing campaign, launched on 12 July, affords as much as S$3 cashback for the primary 160,000 individuals who scan to pay with PayLah! each Saturday at greater than 22,000 collaborating outlets, moist markets and hawker stalls.
In its first month, over 400,000 Singaporeans and residents redeemed about 800,000 rewards, pointing to robust repeat use.
Moist market stallholders have seen the sharpest positive factors. The variety of prospects paying by way of PayLah! on Saturdays has tripled, whereas general spending has practically doubled, persevering with the development noticed throughout final yr’s marketing campaign.
The cashback programme is a part of DBS’s SG60 initiative, which units apart S$23 million in financial savings and help for patrons and beneficiaries in Singapore.
In contrast with the “POSB Assist Our Heartlands” marketing campaign in August 2024, the rewards pool has doubled, permitting extra redemptions every weekend.
To drive additional visitors, DBS has partnered with gamification platform Sqkii on the #HuntTheMouse – DBS SG60 Version.
Working from 14 August to 25 September, the sport hides 200 gold cash price S$120,000 in heartland areas, with native companies built-in as searching stops or in-game pop-ups.
Greater than 30,000 folks joined on the primary day, with Jurong, Toa Payoh and Bedok among the many busiest spots.
Past cashback, the financial institution can be working to assist small companies increase their attain.
In April, it grew to become the primary Singapore financial institution to help livestream promoting, launching workshops beneath its Heartland Service provider Banking Bundle with TikTok and Increase Media.
Two workshops and three stay periods skilled greater than 70 individuals in content material creation, stay presentation and buyer engagement.
Stallholders say the initiative has introduced in each regulars and new consumers, together with older prospects who’re extra keen to attempt digital funds.
Households have additionally been spending extra throughout weekend visits.
“As a homegrown financial institution, we’re devoted to supporting and celebrating the on a regular basis heroes of our heartlands – the retailers who’re an integral a part of Singapore’s tradition and heritage.
Via enjoyable and rewarding initiatives like our weekly SGD 3 cashback and newest Hunt The Mouse recreation, we goal to encourage extra Singaporeans to discover the distinctive allure of their neighbourhoods and, extra importantly, help the native companies that deliver vibrancy and life to our heartlands,”
stated Lim Him Chuan, DBS Singapore Nation Head.
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by thanyakij-12 by way of Freepik
