DBS Bank has witnessed a spike in the number of companies that are choosing QR gift cards over traditional red packets.
Such QR gift cards can be used by companies that want to provide one-off remuneration to staff over the festive season.
In 2020, only five companies adopted DBS QR gift cards for Chinese New Year (CNY).
There was 37 in 2021.
In 2022, a total of 71 companies in various industries are now using QR gift cards for CNY.
To go green
Companies that responded to Mothership's queries highlighted their intent to go green with the use of the QR gift cards.
Cleaning and conservancy company LS 2 Services said it has integrated sustainable living as part of their corporate social responsibility.
They cited the Singapore Green Plan 2030 as its motivation to save resources and reduce carbon footprint.
This is why the company has transited to the use of DBS' QR gift cards, LS 2 Services said.
Real estate company, ERA Realty Network, hopes to "take the lead" in encouraging sustainable giving by reducing the use of bank notes and red packets after knowing about the environmental impact in printing new notes and red packets.
Insurance service provider Singapore Life and food manufacturer EB Food also echoed the same sentiment.
People are now more receptive to e-angpows
As a result of living with Covid-19 for quite a while, those in Singapore have grown accustomed to using the QR code scanner on their phones and many have transitioned to online shopping.
Food manufacturer EB Food, which has launched an online store on Shopee, said the increase in the use of contactless payments and e-commerce during the pandemic period has made people more receptive to e-angpows.
Unlike pre-Covid period when the company had roadshows and food sampling, EB Food now uses customised DBS QR gift cards to interact and engage CNY shoppers online.
For ERA Realty Network, this is the second consecutive year for them to be using DBS QR gift cards.
The agency said many Singaporeans, including their staff, are now familiar with digital banking.
Therefore, it is "a natural progression" to go digital with CNY e-angpows, with the use of QR gift cards well-received by employees and management.
"In time to come, ERA believes that QR gift card will be the new norm in future," the agency added.
Dedicated team to help elderly staff redeem QR angpows
As compared to other companies, LS 2 Services took a step further to have a dedicated team to help guide and educate its staff on the use of QR gift card.
Being in the cleaning industry, a large proportion of its staff is elderly.
LS 2 Services added it is aware that the seniors may have a more traditional mindset and prefer receiving things in their physical form, such as cash.
The QR gift card serves as a welcome alternative to e-angpows, since it comes in the form of a physical card.
The company is committed to help these seniors embrace digitalisation and ensure the token of appreciation is well received by them.
This is why a team was created to assist the senior staff in redeeming their QR angpows so that they can have a peace of mind.
A growing trend
In response to this growing trend among corporates, Diane Chang, DBS' Head of Ecosystems and Marketplace, Consumer Banking, said more customers have come to appreciate QR gifting as "a safe, convenient, and more sustainable alternative" that still preserves the meaningful tradition of gifting angpows.
Chang added that the bank is heartened to see more sustainability-conscious corporates in opting for QR gifting.
She also encourages companies to use DBS QR Gift for other occasions such as townhall prizes and incentive programmes, beyond festive seasons.
More about DBS QR angpows
This article was made possible with the support of DBS Bank.
Through this partnership, we hope to inspire more people to take small but important steps towards a sustainable lifestyle, and raise awareness of purpose-driven businesses and individuals that are leading the way in driving positive change.
Discover more about DBS Bank’s sustainability initiatives here.
Top image by Andrew Koay and via DBS Facebook