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DBS to introduce cashless options through mobile app to F&B outlets in Singapore
DBS has ambitions to introduce cashless options through a first-of-its-kind mobile application to hawker centres and quick-serve restaurants in Singapore, a senior bank executive said on Tuesday.
The bank announced it would soon launch an application that allows customers of F&B businesses to place orders and make payments to the F&B outlet, before picking up the orders at a specified time. Payments must be made through a DBS or POSB card. This application, known as FasTrack, will be made available at cost price for now, to interested F&B businesses by December.
"We will disrupt the need for a terminal," said Jeremy Soo, head of consumer banking group Singapore, at DBS, at a media briefing. "One day, truly, Singaporeans will not have to stand in line."
Mr Soo noted that this would help F&B businesses that are dealing with a manpower crunch, and is in line with Singapore's SmartNation and productivity aims. The application has been tested with one F&B outlet, and the bank is now in talks with a few more restaurants to roll out the service.