Digital ambao is growing in popularity in Singapore, with DBS/POSB reporting that the number of customers using digital gifting services will double in 2024 compared to the previous year.
More than 70% of these customers were first-time users of the bank’s QR Angbao and e-gift services, and they remitted a total of S$39 million during the Lunar New Year period.
For the upcoming Year of the Snake, DBS/POSB is enhancing its digital gifting options with an updated QR Ang Bao design and personalized e-gifts.
Customers can choose from a new POSB version featuring the smiley mascot while maintaining the classic DBS design and the familiar slot-in design that mimics the traditional red packet.
The QR Ang Bao service also includes a ‘click and delivery’ option, allowing customers to order QR Ang Baos online and have them delivered directly to their doorstep.
The service gained popularity last year, with 150,000 QR ambaos distributed.
The eGift service includes the option to upload a photo from the user’s gallery along with a festive greeting sticker, allowing for an even more personal touch.
The shift to digital gifts also contributed to a 7% year-over-year decline in cash withdrawals.
Nevertheless, DBS/POSB continues to cater to customers who prefer traditional red packets.
fit notesUsed and new banknotes, which are quality-tested and suitable for recirculation, can be reserved online from January 7th to 19th, with customers able to select their preferred denomination and collection time.
The booking limit is set at S$800 for new notes and S$1,400 for fit notes, with one booking slot allowed per customer.
For added convenience, 72 pop-up ATMs across 48 locations will dispense Fit and new notes from January 14th to 28th.
This year, the number of pop-up ATMs offering fit notes has increased by 50%, supporting the Monetary Authority of Singapore’s efforts to reduce the environmental impact of new banknote issuance.
Real-time queue updates and seating options for selected ATM locations will also be available via DBS heatmaps on the bank’s website.
To better serve seniors, dedicated pick-up slots will be available during branch business hours for those who reserve their banknotes online, while walk-in exchanges for Fit and new banknotes will be available to customers aged 60 and over or Restricted to customers with disabilities.
DBS/POSB cardholders can access Lunar New Year sales, including discounts at Paradise Group and Yu Sheng at Din Tai Fung, and up to 25% off festive meals at select hotels.
Mr. Calvin Ong, Managing Director and Head of Consumer Banking Group; DBS Singaporesaid,
“Our enhanced QR Ang Bao and eGift options enable personalized gifts with convenience and reduced environmental impact.
It’s heartening to see more and more customers embracing digital gifting year after year, and we continue to provide seamless, easy-to-access gifting solutions and exciting promotions to help you celebrate your Lunar New Year. We will continue to focus on making it even more special. ”
Featured image credit: Edited from freepic
