Last updated on January 12, 2020
SINGAPORE, 10 January 2020 – Following last year’s launch of the DBS QR Gift (then introduced as DBS QR Ang Bao), the world’s first loadable QR solution, DBS is back this Chinese New Year (CNY) with an enhanced version, boasting new features that deliver greater convenience and ease of use to customers.
First piloted during CNY 2019, DBS’ pioneering solution enabled users to ‘load’ desired cash values onto unique QR codes via DBS PayLah!, one of Singapore’s most popular mobile payment platforms with some 1.6 million users. With the dual objective of eliminating the use of cash whilst preserving the tradition of exchanging physical red packets, the DBS QR Gift was well received by the public, with over SGD 1.5 million loaded onto DBS QR Gift cards during the CNY 2019 period.
The acceptance of digital alternatives for gifting is also reflected in the growing use of DBS PayLah!’s eGifts (previously known as eAng Baos). eGift usage has been rising steadily year-on-year since they were first introduced in 2015 – the total number of eGifts sent during CNY 2019 was almost double that of CNY 2018. CNY 2019 also saw double the average number of eGifts sent per day as compared to CNY 2018.
Enhanced DBS QR Gift with new features
To deliver greater convenience, time savings and festive cheer to consumers this CNY, DBS is rolling out a suite of new features for the DBS QR Gift:
DBS PayLah! for teenagers: Teenagers can now access DBS PayLah! with their parents’ consent (the service was previously open only to those aged 16 years and above). This allows youths to redeem DBS QR Gift cards on their own, saving parents the hassle of doing so on their behalf.
Open to all PayNow users: Previously exclusive to DBS PayLah!, DBS QR Gift cards can now be redeemed by both DBS PayLah! and PayNow users. All Singapore bank account holders with SingPass and a PayNow-linked bank account can now conveniently scan and redeem funds from DBS QR Gift cards and have the loaded value credited directly into their accounts.
Bulk-loading: The new bulk-loading feature enables customers to save time by loading up to 10 DBS QR Gift cards at once, instead of having to scan and load each at a time. The 10 DBS QR Gift cards will feature the same loaded cash value, message and animation.
New design: The DBS QR Gift is made of environmentally-friendly paper and designed so they can be given out without the use of red packets, with space for users to pen personalised messages for their recipients.
Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank said, “We’re pleased that the public responded warmly to the DBS QR Gift last year and have been taking in feedback from consumers since then. Mindful that convenience and ease of use remain key for users, given how hectic preparing for CNY can be, we have since enhanced the DBS QR Gift by introducing bulk-loading features and making it accessible to more users. We hope this will make CNY celebrations more seamless and hassle-free for consumers, giving them more quality time with family and friends.”
DBS QR Gift cards come in packs of eight and are now available for free at all DBS/POSB full-service branches, DBS Treasures Centres and POSB Pop-up ATMs located island-wide. The DBS QR Gift cards will be valid for use from 9 January 2020 to 21 February 2020; funds not redeemed by 21 February 2020 will be refunded to the givers.
Businesses pledging to use DBS QR Gift in CNY 2020
According to the Monetary Authority of Singapore, up to 40 million of the slightly more than 100 million notes printed for CNY each year end up being incinerated. DBS has also built an in-house carbon calculator, which estimates that if all DBS customers reduced their cash withdrawal by 1%, the total carbon emissions saved would be equivalent to almost 600 trees.
By doing away with the need for cash, DBS QR Gift aims to lessen wastage caused by the printing of new notes and presents a more sustainable option to gifting. DBS is actively extending the use of DBS QR Gift cards to corporate partners, with SMRT Corporation, Chubb Insurance Singapore, Manulife, Tribal Worldwide Singapore and VICOM – who collectively have some 14,000 employees – pledging to adopt it for employee gifting this CNY, replacing traditional physical red packets and new notes.
“Real change takes a collective effort – one that requires individuals, organisations and nations to play their part. We are committed to our sustainability journey at DBS and have been looking to leverage digital technology and innovation to achieve greater progress on this front. We are heartened to have these companies’ support in our shift towards using digital alternatives for festive gifting, and to join us in building a more sustainable Singapore,” said Soo.
Recycle used red packets and DBS QR Gifts at DBS/POSB branches
DBS will also be bringing back its red packet recycling bins, which were first introduced during CNY 2019. Starting 28 January 2020, the recycling bins will be available at all DBS/POSB full-service branches all year round. Customers are encouraged to play a part in reducing waste by dropping off their used red packets and DBS QR Gifts in these bins. DBS was the first bank in Singapore to launch a dedicated recycling movement for red packets and is partnering Tay Paper Recycling for this initiative.
Win up to SGD 888 in the DBS TapLah! Contest
DBS will be rolling out “TapLah!”, a mobile game hosted on DBS PayLah!. Players are required to collect as many gold coins (+3 points) and red packets (+25 points) as possible within 30 seconds, whilst avoiding the bombs (-10 points). Top players’ points will be listed and ranked on a public scoreboard.
The game will be live on the DBS PayLah! app from 25 January to 8 February 2020 (“game period”). Throughout this period, daily prizes of SGD 88 will be awarded to the top 25 players with the highest game scores at the end of each day. The player with the highest score of the entire game period will walk away with the grand prize of SGD 800.
To participate in the DBS TapLah! Contest, DBS PayLah! users simply need to partake in a qualifying transaction – giving and receiving of a DBS QR Gift between a unique giver-receiver pair (i.e. multiple transactions between the same giver-receiver pair are counted as one transaction) that takes place by 8 February 2020 is considered as a qualifying transaction. DBS PayLah! users gain one chance to play for every qualifying DBS QR Gift given and received.
|DBS PayLah! user loads and gives a QR Gift to a unique receiver, who redeems it by 8 February 2020 *It counts as a qualifying transaction for the giver regardless of whether the receiver redeems a QR Gift via DBS PayLah! or PayNow||1 Chance|
|DBS PayLah! user redeems a QR Gift from a unique giver by 8 February 2020||1 Chance|
Table 1.1 – Qualifying transactions for DBS TapLah! Contest
For more details on DBS QR Gift and the DBS TapLah! Contest, please visit: go.dbs.com/sg-qrgift