DBS today (27 July) introduces its new function on DBS PayLah! a QR code payment method with partner, ComfortDelGro Taxi.
Passengers can instantly pay for their cab rides just by scanning a QR code on the taxi payment terminal using the new function on the PayLah! app.
600,000 PayLah! users are now able to make payment with this new method in all 16,000 ComfortDelGro taxis.
DBS spearheads its industry with this move, confident that it will make “60,000 QR code payment acceptance points available to customers by the end of the year[…] the largest in Singapore.”
Taking advantage of the growing e-payments trend in Singapore, the bank believes this move will further increase the number of cashless transactions as, according to Head of Consumer Banking Group (Singapore) Jeremy Soo, “[Customers] are taking to cashless payment in increasing numbers, and are withdrawing lower amounts of cash and less frequently from our ATMs.”
CEO of ComfortDelGro Taxi Ang Wei Neng expresses excitement with the partnership with DBS as part of their plan to give more cashless and cardless convenience to their passengers saying, “Cashless transactions account for one-fifth of all our taxi trips and we expect its volume to grow steadily as passengers become more accustomed to paying using such payment modes.”
82% Rise In Contactless Card Transactions
In their statement, DBS reported that contactless card transactions went up 82% and payment volumes increased by 76% from June 2016 to June 2017.
Its PayLah! transactions and payment volumes more than doubled to 110 per cent and 111 per cent respectively at the same time.
With the introduction of PayNow, majority of the users are the bank’s customers – about 175,000 of DBS’ customers registered as of 24 July 2017, making up about 40 per cent of the total number of registrations.
ComfortDelGro Taxi also saw about 45 per cent increase in cashless transactions in its taxis.
Cashback For Taxi Rides
To celebrate the launch, you can enjoy up to $15 cashback from 10 August 2017. This offer is limited to the first 60,000 DBS PayLah! customers who pay for their ComfortDelGro taxi ride.
On top of the cashback, from 10 August 2017, the first 1,000 unique passengers to book a taxi using the ComfortDelGro app and pay with DBS PayLah! will receive a $20 promotional code.
Administrative fees will also be waived from 10 August 2017 till the end of the year for all payments on ComfortDelGro taxi rides via DBS PayLah!.
Featured Image Credit: DBS