DBS commits S$10 million to cashback deals, boosts AI adoption support for SMEs

[SINGAPORE] DBS is putting S$10 million towards cost-of-living support for Singaporeans.

The funds will be used to “intensify efforts to help Singaporeans manage cost pressures” amid “prolonged uncertainty and escalating costs”, the lender said on Saturday (Apr 25).

From August to December, “more than three million” cashback redemptions will be offered for payments made via DBS cards, POSB cards and the DBS PayLah! app in hawker centres, heartland shops and supermarkets.

Speaking at a Mother’s Day event at Tengah Community Club on Saturday, Acting Minister for Transport Jeffrey Siow said that DBS and POSB cardholders can get S$3 off for household essentials bought at selected supermarkets in August.

From September, S$3 cashback will be awarded for payments made via PayLah! at hawker centres and heartland shops, added Siow, who is also Member of Parliament for Chua Chu Kang GRC.

Further details on the redemptions will be made available in July.

DBS said that it is also “stepping up support for small and medium-sized enterprises (SMEs) to build long-term resilience and invest in capabilities for the future”.

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

Meanwhile, a new “Implementing AI for Impact” playbook will provide an “accessible introduction to AI, helping businesses adopt AI more confidently while fortifying their business resilience”.

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DBS Singapore country head Lim Him Chuan said that the lender’s moves are aimed at “enabling more people to stretch their dollar, while strengthening our SMEs, which are the backbone of the economy”.

“As the prolonged uncertainty drives up prices, we know that some are feeling the strain more acutely than others,” he added. “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 previously committed S$40 million in 2023 as part of a support package to help Singaporeans deal with cost-of-living pressures. As part of this, it launched weekly hawker meal subsidies through the PayLah! app.

In 2025, the lender provided subsidies totalling more than S$6 million for everyday items and hawker meals in the Republic’s heartlands.

“Among those who redeemed the cashback rewards last year, 36 per cent were senior citizens and/or earning less than S$2,500 a month,” DBS said.

“Participating hawkers, wet-market stallholders and heartland merchants also saw their Saturday earnings increase by 50 per cent via PayLah! transactions last year, surpassing the 40 per cent growth recorded during a similar cashback campaign in 2024.”