DBS introduces QR code payments for Singapore taxis
By Digital News Asia July 28, 2017
- DBS PayLah! saw transactions and payment volumes grow 110% and 111% respectively in a year
- From 2012 to 2016, ComfortDelGro Taxi saw cashless transactions increase by some 45%
DBS in partnership with ComfortDelGro Taxi enables users of DBS PayLah! to make instant QR code payments in all 16,000 ComfortDelGro taxis in Singapore.
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.
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 S$15 in cashback from Aug 10, 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%.
DBS Bank Consumer Banking Group (Singapore) head Jeremy Soo said, “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.”
ComfortDelGro Taxi chief executive officer Ang Wei Neng 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 Aug 10, 2017, administrative charges for payment of ComfortDelGro taxi rides via DBS PayLah! will be waived till the end of the year, and the first 1,000 unique passengers to book via the ComfortDelGro App and pay using DBS PayLah! will receive an S$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.
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