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The moves are aimed at helping more Singaporeans \u2018stretch their dollar\u2019 and future-proofing local firms<\/p>\n
[SINGAPORE] DBS is putting S$10 million towards cost-of-living support for Singaporeans.<\/p>\n
The funds will be used to \u201cintensify efforts to help Singaporeans manage cost pressures\u201d amid \u201cprolonged uncertainty and escalating costs\u201d, the lender said on Saturday (Apr 25).<\/p>\n
From August to December, \u201cmore than three million\u201d cashback redemptions will be offered for payments made via DBS cards, POSB cards and the DBS PayLah! app in hawker centres, heartland shops and supermarkets.<\/p>\n
Speaking at a Mother\u2019s Day event at Tengah Community Club on Saturday, Acting Minister for Transport Jeffrey Siow said that DBS and POSB cardholders can get S$3 off for household essentials bought at selected supermarkets in August.<\/p>\n
From September, S$3 cashback will be awarded for payments made via PayLah! at hawker centres and heartland shops, added Siow, who is also Member of Parliament for Chua Chu Kang GRC.<\/p>\n
Further details on the redemptions will be made available in July.<\/p>\n
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DBS said that it is also \u201cstepping\u00a0up\u00a0support for\u00a0small\u00a0and\u00a0medium-sized\u00a0enterprises\u00a0(SMEs)\u00a0to build\u00a0long-term\u00a0resilience and invest in capabilities for the future\u201d.<\/p>\n
The lender will provide \u201cmore structured guidance\u201d for local businesses, as well as \u201cwider access\u201d to artificial intelligence solution providers through its recently enhanced Spark GenAI programme<\/a>.<\/p>\n Meanwhile, a new\u00a0\u201cImplementing AI for Impact\u201d playbook will provide an \u201caccessible introduction to AI, helping businesses adopt AI more confidently while fortifying their business resilience\u201d.<\/p>\n DBS Singapore country head Lim Him Chuan said that the lender\u2019s moves are aimed at \u201cenabling\u00a0more people to stretch their dollar, while strengthening our SMEs, which are\u00a0the backbone of the economy\u201d.<\/p>\n \u201cAs the\u00a0prolonged uncertainty drives up prices, we know that some are feeling the strain more acutely than others,\u201d\u00a0he added. \u201cWe hope this gesture of encouragement will go some way in providing practical support to those who need it as we\u00a0tide\u00a0over\u00a0these times together.\u201d\u00a0<\/p>\n DBS previously committed S$40 million in 2023 as part of a support package to help Singaporeans deal with cost-of-living pressures. As part of this, it launched weekly hawker meal subsidies through the PayLah! app. <\/p>\n