DBS launches cashback transactions and strengthens AI support for small and medium-sized businesses

[SINGAPORE] DBS is donating S$10 million to help Singaporeans with their living expenses.

The funds will be used to “intensify efforts to help Singaporeans cope with cost pressures” amid “lingering uncertainty and rising costs”, the financial institution said on Saturday (25 April).

From August to December, cashbacks of “over 3 million rupees” will be offered on payments made with DBS cards, POSB cards and DBS PayLah. App found in hawker centres, Heartland shops and supermarkets.

Speaking at a Mother’s Day event at Tengah Community Club on Saturday, Acting Transport Minister Geoffrey Siow said DBS and POSB cardholders will get S$3 off on household items at select supermarkets in August.

Get S$3 cashback when you pay with PayLah from September! hawker centers and Heartland shops, added Mr Siow, who is also the Chua Chu Kang GRC MP.

Redemption details are expected to be announced in July.

“We are also increasing support for small and medium-sized enterprises (SMEs) to build long-term resilience and invest in capabilities for the future,” DBS said.

The lender will provide “more structured guidance” to local businesses as well as “broader access” to artificial intelligence solution providers through its recently enhanced Spark GenAI program.

Meanwhile, the new Implementing AI for Impact handbook “provides an accessible introduction to AI, empowering companies to deploy AI with more confidence while enhancing business resilience.”

DBS Singapore’s country head Lim Him Chuan said the financial institution’s move was aimed at “bringing dollars to more people, while strengthening small and medium-sized enterprises, which are the backbone of the economy.”

“We know that some people are feeling the strain more acutely than others as prolonged uncertainty drives up prices,” he added. “We hope that this sense of encouragement will go some way to providing practical support to those in need as we move through this time together.”

DBS previously pledged S$40 million in 2023 as part of a support package to help Singaporeans cope with cost of living pressures. As part of this, we have launched a weekly hawker meal subsidy through PayLah! App.

In 2025, the lender provided more than S$6 million in subsidies for daily necessities and food for hawkers in the heartland of the republic.

“Of those who took advantage of cashback benefits last year, 36% were seniors with a monthly income of less than S$2,500,” DBS said.

“Participating hawkers, wet market vendors and downtown shops also saw a 50% increase in Saturday revenue through PayLah! transactions last year, surpassing the 40% growth recorded during a similar cashback campaign in 2024.”