SINGAPORE: DBS said on Wednesday (Jan 17) that it will extend its 5 Million Hawker Meals initiative by another six months, with the bank noting its "positive impact" over the past year.
The initiative, which began on Feb 10 last year, allows some patrons of hawker stalls who use the DBS PayLah! app to get up to S$3 (US$2.23) off their meals every Friday.
It was scheduled to end on Jan 19, but customers will now get to enjoy this discount until Jul 26. Close to five million hawker meal subsidies have been redeemed so far, said DBS.
With the extension, a total of 7.5 million hawker meals will be subsidised in the span of 18 months, the bank added.
The S$3 subsidy is available for the first 100,000 PayLah! users at any of the 11,600 SGQR-enabled hawker stalls in Singapore, with no minimum spending needed to qualify.
The subsidised amount will be credited to the user's PayLah! account on the same day and is limited to one redemption per person every Friday from 6am.
02:01 Min
DBS is making good on its promise to subsidise 5 million meals to help people stretch their dollar. Hawkers and diners unaware of the initiative were surprised by the S$3 subsidy, and DBS says PayLah! transactions at hawker centres tripled on Friday (Feb 10) compared to normal weekdays.
DBS noted that consumers expect a "slight negative impact" on Singapore's economic growth over the next 12 months, given the uncertainties stemming from geopolitical conflicts, global growth prospects and general cost-of-living pressures.
"Against this backdrop, the extension of weekly hawker meal subsidies seeks to ease Singaporeans and residents’ cost of living pressures, and is in line with the government’s focus on doing the same," said the bank.
On Tuesday, the Housing and Development Board (HDB) and Government Technology Agency (GovTech) announced the Great Budget Meal Hunt initiative, allowing the public to search for available budget meals at nearby coffee shops.
Acting Chief Information Officer and Singapore country head at DBS, Han Kwee Juan, said: "We’re heartened that the weekly hawker meal subsidies have made a positive impact on our customers and hawkers over the past year."
"While we do see cautious signs of recovery on the horizon for 2024, we’re aware that ongoing economic uncertainties and inflation continue to be a concern for many."
The initiative has not just been a success with patrons. Co-founder of Tian Kee Carrot Cake at Marine Parade Central Market and Food Centre, Elayne Ang, said hawkers like herself have seen tangible benefits.
"We’re seeing a 10 per cent to 15 per cent jump in crowd traffic at the hawker centre every Friday, which has benefitted our business," added Ms Ang.
Continue reading...
The initiative, which began on Feb 10 last year, allows some patrons of hawker stalls who use the DBS PayLah! app to get up to S$3 (US$2.23) off their meals every Friday.
It was scheduled to end on Jan 19, but customers will now get to enjoy this discount until Jul 26. Close to five million hawker meal subsidies have been redeemed so far, said DBS.
With the extension, a total of 7.5 million hawker meals will be subsidised in the span of 18 months, the bank added.
The S$3 subsidy is available for the first 100,000 PayLah! users at any of the 11,600 SGQR-enabled hawker stalls in Singapore, with no minimum spending needed to qualify.
The subsidised amount will be credited to the user's PayLah! account on the same day and is limited to one redemption per person every Friday from 6am.
02:01 Min
DBS is making good on its promise to subsidise 5 million meals to help people stretch their dollar. Hawkers and diners unaware of the initiative were surprised by the S$3 subsidy, and DBS says PayLah! transactions at hawker centres tripled on Friday (Feb 10) compared to normal weekdays.
INITIATIVE AIMS TO "EASE COST OF LIVING PRESSURES"
DBS noted that consumers expect a "slight negative impact" on Singapore's economic growth over the next 12 months, given the uncertainties stemming from geopolitical conflicts, global growth prospects and general cost-of-living pressures.
"Against this backdrop, the extension of weekly hawker meal subsidies seeks to ease Singaporeans and residents’ cost of living pressures, and is in line with the government’s focus on doing the same," said the bank.
On Tuesday, the Housing and Development Board (HDB) and Government Technology Agency (GovTech) announced the Great Budget Meal Hunt initiative, allowing the public to search for available budget meals at nearby coffee shops.
Acting Chief Information Officer and Singapore country head at DBS, Han Kwee Juan, said: "We’re heartened that the weekly hawker meal subsidies have made a positive impact on our customers and hawkers over the past year."
"While we do see cautious signs of recovery on the horizon for 2024, we’re aware that ongoing economic uncertainties and inflation continue to be a concern for many."
Related:
The initiative has not just been a success with patrons. Co-founder of Tian Kee Carrot Cake at Marine Parade Central Market and Food Centre, Elayne Ang, said hawkers like herself have seen tangible benefits.
"We’re seeing a 10 per cent to 15 per cent jump in crowd traffic at the hawker centre every Friday, which has benefitted our business," added Ms Ang.
Continue reading...