DBS introduces QR code payment for taxis in Singapore
From July 27, commuters can pay for their taxi rides through a simple scan of the QR code on the taxi’s cashless payment terminal via the DBS PayLah app. This is available on all 16,000 ComfortDelGro taxis in Singapore. No credit or debit cards are required for the transaction.
Launched in 2014, DBS PayLah is a mobile app that functions as a mobile wallet and is Singapore’s leading mobile wallet at 600,000 users. Users have to top up funds into their account in DBS PayLah in order to use it. The app can be used by both DBS/POSB bank account holders and non-DBS/POSB bank account holders, as long as they have a savings or current account with a bank which offers FAST (Fast and Secure Transfers) services. Through the app, users can pay for items by scanning merchants’ QR codes, or generate their own QR codes to receive payment from others.
The first 60,000 customers who use DBS PayLah to pay for their taxi ride will enjoy up to S$15 cashback from 10 August onwards, and the first 1,000 passengers to book via the ComfortDelGro App and pay using PayLah will receive a S$20 promo code to be used on their next ride. In addition, the S$0.30 administrative charges for payment via PayLah will be waived until the end of the year.
Jeremy Soo, Head of Consumer Banking Group (Singapore), DBS Bank 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.”
Ang Wei Neng, Chief Executive Officer of ComfortDelGro Taxi 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.”
About FOMO Pay Pte. Ltd
FOMO Pay is the first authorized WeChat Pay & Baidu Wallet partner in Southeast Asia, and was selected as one of the TOP 100 Asian Companies by E27, TOP 100 Startups by Red Herring Asia, and Top 8 by DBS’ FinTech Accelerator Program. FOMO Pay provides a one-stop solution for local merchants by facilitating payment collection from the China market, including Chinese tourists. This comprises of online/offline Chinese payment modes, such as WeChat Pay, Alipay and Union Pay. FOMO Pay’s business solution serves clients from a wide range of industries, including the telecom, publishing, tourism and hospitality, F&B, education and retail industries.