DBS partners GovTech, Nets, HPB to launch digital payment method for healthier F&B options

LOCAL bank DBS is partnering the Government Technology Agency (GovTech), the Health Promotion Board (HPB) and Network for Electronic Transfers (Nets) to introduce a new digital payment feature in HPB’s Healthy 365 mobile app. It can be used at over 500 participating local food and beverage (F&B) merchants at launch.

App users who have collected “Healthpoints” from participating in HPB’s activities can convert these points into credits, known as HPB Credit$, from Monday (Apr 25), said the bank in a press statement on Thursday.

These credits can then be used to purchase select healthier options at participating F&B outlets across the island, by scanning the Nets QR code or SG QR code at the stores using the Healthy 365 app.

Over 2,500 F&B merchants are expected to be onboarded into the programme and start accepting the credits by end-March 2023.

To aid merchants in keeping track of sales through this cashless option, all sales will be automatically consolidated into a report at the end of each day. Funds received from these sales will be credited to the merchant’s bank account by the next business day.

DBS said that through this initiative, which is part of Singapore’s Smart Nation efforts, the lender aims to encourage more merchants to go cashless and paperless.

“It is increasingly relevant for merchants to embrace digital forms of payment as the pandemic has dramatically boosted the use of contactless payment options,” said Lim Soon Chong, DBS’s group head of global transaction services.

Lawrence Chan, Nets’ group chief executive officer, said the initiative comes as more merchants adopt QR codes as a means of payments. “Usage (of QR codes) has accelerated significantly in the last 2 years across the extensive Nets merchant network,” he added.