Local banks dangle perks to get customers to go cashless

Cashback, discounts at food outlets among ways to promote contactless payments

OCBC Bank encourages its customers to use cashless payments for receipts below $30 by partnering merchants.
OCBC Bank encourages its customers to use cashless payments for receipts below $30 by partnering merchants. PHOTO: REUTERS

From cashback to sale promotions, banks are using a variety of ways to encourage their customers to go cashless as part of Singapore's Smart Nation drive.

Since March, DBS Bank has been offering a cashback incentive of up to $50 a month for customers who withdraw $400 or less from its automated teller machines or branches. The money is automatically credited into the customer's account.

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A version of this article appeared in the print edition of The Straits Times on August 20, 2018, with the headline 'Local banks dangle perks to get customers to go cashless'. Subscribe