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Friday, July 21, 2017

DBS INNOVATES : The Joyful of QR Code Cashless Payment

Digital payment has been going around us. It is easier and hassle-free to use electronic payment than using cash and save the hassle of carrying heavy coins in our wallet especially when you are going to those shops that only accept cash.

When I read about DBS Innovates, I was a little surprised that even Hawker Centre has implemented cashless payment now. With the advancement of financial technology such as
cashless payment, it brought us closer together to everything.

So far I always need to use cash to pay for the food and drinks at the Hawker Centre. And I only came across a few stores accepting electronic payment via Nets FlashPay. I prefer to visit their stall more because of the ease of payment and I don't need to headache to find ATM to withdraw money when I don't have enough cash.


DBS has come out with an app called PayLah!
It has brought the technology and traditional means of payment together.
As a customer, all we need is our phone. With DBS mobile wallet installed, use the app to scan
the QR code displaying at the merchant counter, input the amount and pay! Immediately the money will be transferred.
As a merchant, then they will receive a payment notification immediately.

One of the owners at Maxwell Hawker Centre found out about this initiative and have always
wanted to reduce the inconvenience of looking for small change to customers, has opted
for cashless payment as an alternative way to receive money.


Sharing article of Making Banking Simpler, Faster, Smart, and DBS News to read more about PayLah App.

The Paylah! QR code payment has low barriers to entry. Both consumers and merchants
only need a Singapore bank account to send or receive funds and at no cost.

We can also use it to collect or make payments to our friends with the QR code!.
Furthermore, PayLah! users can transfer money to others who do not have the PayLah! App
via their mobile number or NRIC/FIN, as long as they are customers of 7 participating banks

According to DBS, paying for taxi fare for ComfortDelGro will be available in the third quarter of this year.