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.

PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.

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