DBS/POSB announced today (February 1) that it will subsidise five million hawker meals over the next 12 months. This initiative will provide relief to consumers who are facing inflationary pressures and rising food prices.
The subsidy of S$3 per meal will be available for the first 100,000 users every Friday, from 10 February 2023 to 19 January 2024, when they use DBS PayLah! to scan and pay for their meals at one of the 11,600 SGQR-enabled hawker stalls across the island.
With persistent inflation and rising cost of living, we understand the concerns among Singaporeans and residents that their money is not going as far as before. So we want to do what we can to provide some relief to those looking to better manage their everyday expenses.
With the ‘DBS 5 Million Hawker Meals’ scheme, we are also supporting the livelihoods of our hawkers, who are an integral part of our daily lives. As a key member of the community and a bank defined by a strong sense of purpose, we hope this small gesture can provide some encouragement as we ride out these tough times together.
– Shee Tse Koon, the Country Head of DBS Singapore
Minister Indranee Rajah, joined DBS staff and SG Digital Office digital ambassadors at Tiong Bahru Market to raise awareness of the ‘DBS 5 Million Hawker Meals’ initiative.
The group met with hawkers who have adopted digital payments, interacted with participants at a pop-up digital literacy workshop, and distributed red packets and oranges in celebration of the Lunar New Year.
This initiative is a positive step towards providing relief to consumers and supporting the livelihoods of the hawkers who are an integral part of the community.
Driving digital inclusion for all
Singapore’s efforts to drive nationwide digital adoption have led to an increase in the use of digital payments at hawker centers.
The government’s Hawkers Go Digital Program, launched in 2020, has seen a growth in SGQR transactions at participating stalls. Despite this progress, some in the community still lack the knowledge and confidence to use digital payments.
To address this, DBS/POSB is collaborating with government agencies such as the Infocomm Media Development Authority (IMDA), and grassroots organisations to offer workshops to the less tech-savvy.
The workshops aim to help individuals become more comfortable with digital banking and payments and learn how to stay safe online. The collaboration highlights the significance of public-private partnerships in supporting the country’s Digital for Life (DfL) movement.
Last November, the DBS Foundation has contributed S$500,000, with the government’s dollar-for-dollar matching, to the DfL fund to support digital inclusion projects. The effort aims to reach out to some 100,000 Singaporeans by end 2024, including senior citizens, youths, hawkers, and special needs individuals.
In 2021, DBS also launched a DBS Adopt-A-Hawker Center initiative, aimed to support hawkers’ livelihoods during the pandemic.
The bank worked with IMDA to rally community partners and grassroot leaders to sustain these businesses by organising group buys, boosting discoverability through social media and other platforms, and equipping hawkers with the tools and know-how to digitalise their businesses. To date, 10 hawker centers islandwide have benefited from this initiative.
Featured Image Credit: DBS