DBS/POSB commits S$10 million to help S'poreans & SMEs with costs, including 3 million cashback redemptions

DBS/POSB has committed S$10 million towards cashback rewards to help consumers "defray the cost of everyday items" amid prolonged uncertainty.

On Apr. 25, 2026, the measures were announced at a community event graced by Acting Minister for Transport and Senior Minister of State for Finance, Jeffrey Siow and MP for Choa Chu Kang GRC, Choo Pei Ling.

According to a press release, the bank said that it was intensifying efforts to help Singaporeans mitigate cost pressures and help small and medium-sized enterprises (SMEs) to build long-term resilience.

From August to December, DBS and POSB cardholders and PayLah! users can get more than three million cashback redemptions for everyday items purchased at hawker centres, heartland shops and supermarkets.

DBS said: "These deals will include the S$3 cashback at hawker stalls and heartland shops every Saturday."

More details will be announced in July.

Expanding support

DBS said its efforts come after the Singapore government announced the S$1 billion support package in early April.

DBS noted, "The bank's efforts are aimed at expanding the support to those grappling with mounting cost pressures."

DBS Singapore Country Head Lim Him Chuan said, "Through this support package, the bank is committed to enabling more people to stretch their dollar, while strengthening our SMEs, which are the backbone of the economy."

"We hope this gesture of encouragement will go some way in providing practical support to those who need it as we tide over these times together."

DBS said: "Today, 50 per cent of payments made via PayLah! Scan to Pay are for food and groceries from heartland shops and hawker stalls."

The bank added that 36 per cent of those who redeemed cashback rewards in 2025 were senior citizens and/or earning less than S$2,500 a month.

Saturday earnings for participating hawkers, wet market stallholders and heartland merchants also increased by 50 per cent via PayLah! transactions last year.

AI for businesses

DBS said it will also be expanding support to help local SMEs by providing "structured guidance and wider access to AI solution providers".

"The programme helps businesses overcome barriers to AI adoption and take practical steps to fast track their transformation."

DBS added that businesses will receive advisory and training support, including complimentary workshops by the Infocomm Media Development Authority (IMDA) through DBS's enhanced Spark GenAI programme.

Through IMDA's Open Innovation Platform, SMEs can also gain access to a global network of over 16,000 solution providers.

DBS has also rolled out the "Implementing AI for Impact" playbook that helps businesses adopt AI more confidently.

Top photo from DBS/Instagram and POSB/Instagram