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CARDS & PAYMENTS | Staff Reporter, Singapore

DBS unveils loadable QR Ang Bao for Chinese New Year

They will be available from 25 January and can be used until 15 March.

DBS rolled out the pilot launch of what it claims to be the first loadable QR Ang Bao where users of its mobile wallet DBSPayLah! can give and receive the traditional red packets in a digital way.

Users of DBS PayLah! need only scan a unique QR code on a DBS QR Ang Bao to ‘load’ a cash value of up to $999. Receivers of the DBS QR Ang Bao can then scan the QR code with their own DBS PayLah! App to receive the loaded amount.

Armed with a unique QR code and serial number for extra level of security, users can opt to cancel a particular DBS QR Ang Bao’s loaded funds via the DBS PayLah! app in the event that it gets lost or stolen.

DBS revealed that limited quantities of DBS QR Ang Baos will be available from 25 January and can be used until 15 March. Amounts not redeemed by 15 March will be refunded to the givers.

“The DBS QR Ang Bao is ideal for time-starved customers who hope to forgo the usual hassle of obtaining new notes for Chinese New Year (CNY), or for those who embrace the spirit of being early adopters and appreciate having conversation-starters during family gatherings,” Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, commented.

It was in 2015 when DBS launched PayLah’s eAngBaos. Since then, eAng Baos hit a record number of transactions in 2018, with the number of eAng Baos sent in 2018 being six times higher than that of 2017.

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