DBS becomes first bank in Singapore to introduce QR code payment for taxis

Commuters can now pay instantly with QR codes using DBS PayLah! across all 16,000 ComfortDelGro taxis – no credit/debit cards required

In another industry first, users of DBS PayLah! – Singapore’s leading mobile wallet at 600,000 users – can now make instant QR code payments in all 16,000 ComfortDelGro taxis here. This development means that DBS/POSB is on track to have 60,000 QR code payment acceptance points available to customers by the end of the year – by far the largest in Singapore. To mark this occasion, the first 60,000 customers who use DBS PayLah! to pay for their ComfortDelGro taxi ride will also enjoy up to SGD 15 in cashback from 10 August 2017 onwards.

DBS/POSB is seeing growing momentum in e-payments adoption in Singapore as a result of its multiple initiatives, with the bank’s customers taking to digital and cashless payments in rapidly rising numbers.

From June 2016 to June 2017, contactless card transactions grew 82%, while payment volumes rose by 76%. In the same period, DBS PayLah! saw its transactions and payment volumes more than double, with a growth of 110% and 111% respectively. The bank also has the lion’s share of customers registering for PayNow, with some 175,000 customers who have registered for PayNow as of 24 July 2017 – around 40% of the total number of registrations. From 2012 to 2016, ComfortDelGro Taxi also saw cashless transactions on board its taxis increase by some 45%.

Said Jeremy Soo, Head of Consumer Banking Group (Singapore), DBS Bank, “We are delighted to be providing commuters a simple and fast way to go cashless with ComfortDelGro Taxi. DBS has been leading the way in providing customers seamless and innovative options to go cashless for most aspects of their daily lives, across sectors such as transport, F&B, retail and education. As a result, we have witnessed a dramatic shift in our customers’ payment behaviours. They are taking to cashless payment in increasing numbers, and are withdrawing lower amounts of cash and less frequently from our ATMs. With the introduction of user-friendly digital payment modes such as the QR code for day-to-day activities such as taxi payments, we expect cashless payment adoption to accelerate.”

Ang Wei Neng, Chief Executive Officer of ComfortDelGro Taxi said, “We are excited to partner with DBS as the first bank to roll out the direct QR code payment mode – DBS PayLah! – on board our taxis.  This is part of our plan to provide more cashless, more cardless and more convenient payment options for our passengers. 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.”

In addition to the cashback, starting 10 August 2017, administrative charges for payment of ComfortDelGro taxi rides via DBS PayLah! will be waived till the end of the year[1], and the first 1,000 unique passengers to book via the ComfortDelGro App and pay using DBS PayLah! will receive an SGD 20 promo code.

Paying taxi fares with DBS PayLah! is instant and does not require the use of credit/debit cards. Customers simply need to scan the QR code on the taxi’s cashless payment terminal and the app will automatically process the payment. Visit go.dbs.com/paylah for more details.

The partnership with ComfortDelGro is one of many initiatives DBS has implemented in recent months as it leads the way in driving cashless payments across the transport, F&B, retail and education sectors with innovative and user-friendly services. Here are some recent highlights:

  • In May 2017, the bank introduced the “Smart Nation Ambassador Programme” (SNAP), with DBS ambassadors fanning out across the island to encourage small, cash-based merchants – primarily hawker stalls, wet market vendors and neighbourhood stores –  to adopt DBS PayLah! QR codes as a payment method. DBS has since reached out to 8,000 merchants, of which more than 900 have already been onboarded. This includes Michelin Guide-listed outlets such as Alliance Seafood at Newton Food Centre and Depot Road Zhen Shan Mei Claypot Laksa.
  • In April 2017, DBS/POSB was the first bank in Singapore to launch QR code payments via DBS PayLah!. Since then, some 8,000 QR code transactions have been processed.

Since its launch in 2014, DBS has enhanced DBS PayLah! with several trailblazing features. Besides sending money, users can also request for payment from others, make payments to over 43 billing organisations, donate money to more than 26 charitable organisations and top up mobile prepaid SIM cards. Users can also shop and pay with DBS PayLah! at selected online merchants, including Qoo10.sg, comGateway, AXS and MSIG.

DBS PayLah! is also widely accepted as a payment option in another of the bank’s unique solutions for F&B businesses in Singapore, DBS FasTrack. The DBS FasTrack solution is the first of its kind to be introduced by a bank in Singapore. It provides a seamless ‘self-service’ ordering and payments solution for businesses while eliminating or drastically shortening customers’ wait time.

Businesses in turn can use the solution to enhance their productivity and reduce reliance on manpower. Old Tea Hut, Five Star Restaurant, Koufu, Boon Tong Kee, Miam Miam, Aloha Poke, Wolf Express, Tiong Bahru Bakery, FoodCity SG and Li Xin Fishball Noodles are among the popular eateries – with many more in the pipeline – who have apps powered by DBS FasTrack, that customers can download in iOS and Android.

Find out more about DBS FasTrack at go.dbs.com/dbsfastrack.