DBS Bank has extended its hawker meal subsidy programme which will now run until 26 July 2024, offering cashback incentives for customers using the PayLah! app for meal payments. The extension means a total of 7.5 million meals will be subsidised over 18 months.

This initiative is a part of the 5 Million Hawker Meals campaign launched in February 2023 with the aim to alleviate the financial burden on consumers by subsidising up to SGD 3 for meals purchased at over 11,600 hawker stalls across Singapore every Friday.

The initiative has been particularly beneficial to senior citizens and those earning below SGD 2,500 monthly, with a notable portion of the nearly five million redeemed subsidies going to these groups. Hawker stalls have also experienced increased customer traffic and sales.

In addition to economic support, DBS’s initiative aligns with efforts to promote digital literacy. Collaborating with the Infocomm Media Development Authority (IMDA), the bank has conducted over 400 digital literacy workshops, benefiting around 59,000 individuals. These workshops, often held in hawker centers, educate residents on digital banking, cashless payments, and scam awareness.

The program’s extension comes against the backdrop of ongoing economic challenges, including core inflation and food price increases. It aligns with broader governmental efforts to ease the cost of living, such as the recent Great Budget Meal Hunt initiative by the Housing & Development Board and Government Technology Agency.

Han Kwee Juan, Acting Chief Information Officer and Singapore Country Head at DBS 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. Our hope is that the subsidies will continue to provide some relief to those looking to better manage their everyday expenses and support our hawkers.”

Featured image credit: Edited from Unsplash 

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• Source: https://fintechnews.sg/83822/financial-inclusion/dbs-extends-s3-hawker-meal-subsidies-on-fridays-until-26-july/