In this world of technology, digital transformation is very important and at DBS bank, it pervades every part of the bank from people and processes, to the products and services for individuals, businesses, and communities.
DBS launched PayLah!’s QR code feature in April and recruited a group of ambassadors under its new Smart Nation Ambassador Program to encourage small cash-based merchants, such as those at Maxwell Food entre, to adopt the QR code option as an alternative payment method.
Ng Kok Hua, 60 years old, who owns the popular Hokkien-Style fritters (also known as ngoh hiang) at Maxwell Food Center is one of the 30 hawkers at the food centre who has decided to go cashless with this new program, despite his old school learnings.
“Even though I’m at this age already, I understand that this is a new trend. It doesn’t mean (just because) I sell traditional food, I can only do the traditional form of cash transaction. If we don’t follow (this trend), we will lose out to everybody,” says the 60-year-old.
Mr Ng also mentioned about some of the difficulties that they faced with cash payment, such as customers paying with big notes at the start of the business when they might not have enough change to provide. Collecting money and returning change from table to table can be a hassle to them, especially when they are running at their peak period.
With the use of DBS PayLah! QR Code, customers can simply just scan the QR code displayed at the merchant store using their PayLah! application and merchants will receive a payment notification immediately.
Interested in getting the latest banking innovations and insights? Visit DBSinnovates.com as they provide regular updates on the latest banking innovations and insights. 🙂
This post is brought to you in collaboration with DBS Singapore.