Heartland businesses in Singapore have reported a 50% increase in average Saturday earnings since the launch of the DBS/POSB PayLah! SG60 cashback initiative, according to DBS. The initiative, introduced on July 12, offers up to SGD 3 cashback for the first 160,000 people who use PayLah! to pay at over 22,000 participating heartland shops, wet markets, and hawker stalls each Saturday.
In the past month, more than 400,000 Singaporeans and residents redeemed about 800,000 cashback rewards. This figure indicates strong repeat engagement with digital payments among customers and growing support for local merchants.
Wet market stallholders have seen significant gains. The number of customers paying via PayLah! on Saturdays has tripled compared to previous periods, and total spending has nearly doubled. These trends are consistent with last year’s campaign results.
The SG60 PayLah! cashback rewards form part of a broader effort by DBS to provide SGD 23 million in savings and support for customers and beneficiaries in Singapore. The current programme features double the number of Saturday cashback redemptions compared to the “POSB Support Our Heartlands” campaign from August 2024.
“As a homegrown bank, we are dedicated to supporting and celebrating the everyday heroes of our heartlands – the merchants who are an integral part of Singapore’s culture and heritage. Through fun and rewarding initiatives like our weekly SGD 3 cashback and latest Hunt The Mouse game, we aim to encourage more Singaporeans to explore the unique charm of their neighbourhoods and, more importantly, support the local businesses that bring vibrancy and life to our heartlands,” said Lim Him Chuan, DBS Singapore Country Head.
To further boost traffic in heartland areas, DBS partnered with gamification platform Sqkii to launch #HuntTheMouse – DBS SG60 Edition. From August 14 through September 25, players can search for gold coins worth a total of SGD 120,000 hidden across various neighbourhoods. Heartland businesses participate as hunting stops or appear in-game via information pop-ups.
On its first day live, over 30,000 people played #HuntTheMouse. Most activity occurred between 9pm and 10pm. Popular locations included Jurong, Toa Payoh, and Bedok.
Minister for Social and Family Development Masagos Zulkifli attended the launch event at Tampines on August 16 along with Dr Charlene Chen from Tampines GRC Grassroots Organisations.
Beyond direct cash incentives for shoppers using digital payment options like PayLah!, DBS is also working with small- and medium-sized enterprises (SMEs) as well as heartland merchants to help them adopt new sales channels such as livestream selling. In April this year, DBS launched workshops under its Heartland Merchant Banking Package in partnership with TikTok and Boom Media. More than seventy participants received training in content creation and live presentation skills during these sessions.
Allan Lee from Fresh Mart at Tampines Street 81 commented: “Saturdays have become much busier, and sales have definitely gone up too. Some families even come together to do their grocery shopping, buying more than usual, whether it be dried goods to keep or everyday essentials. In the past, it was mostly younger customers using PayLah! but with the recent cashback rounds, more older customers are giving digital payments a try. It is fast, convenient, and the cashback initiative has helped bring in both regulars and new shoppers. Each time DBS brings back the cashback, my customers and I are all very happy.”
Amy Ang from Baker Talent at Blk 828 Tampines added: “Before 9am on Saturdays, we already see a steady stream of people coming in for the SGD 3 cashback – both regulars and new faces. It used to be mostly older customers at this hour but now even younger shoppers are showing up early. On the first day of the cashback relaunch, the turnout was amazing. Some older customers even bring their kids along to teach them how to use PayLah!. Overall we’re seeing more customers and better sales – the cashback initiative really makes a difference.”
DBS states that these programmes reflect ongoing efforts not only toward immediate financial rewards but also long-term capability building among small businesses through technology adoption.