DBS Inks Taxi Tie-Up
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DBS and ComfortDelgro, which operates a fleet of about 10,000 taxis in Singapore, have entered into a strategic partnership to enhance payment services for their customers in Singapore, the bank announced on Thursday.
With the partnership, ComfortDelGro is the first public transport operator to be integrated into DBS’ «PayLah!» ecosystem, which serves 1.7 million users in Singapore. Customers can access and pay for their taxi bookings directly and seamlessly on the platform.
«This marks a significant milestone in our journey to inject dynamism into our mobile ecosystem platform, where we leverage technology and artificial intelligence to proactively piece together individual journeys for our customers. In doing so, we can provide personalized nudges and contextualized offers which they will welcome as thoughtful reminders,» Jeremy Soo, DBS’ Singapore head of consumer banking, said in the announcement.
The two parties previously partnered to introduce QR code payment for taxi rides in 2017, which helped pave the way for consumers in Singapore to use QR code payments widely in everyday transactions. According to the bank, 20 percent of QR code transactions took place within the transport segment before the Covid-19 pandemic.
Questions & Answers
Q.What is the primary goal of the strategic partnership between DBS and ComfortDelgro?
What is the primary goal of the strategic partnership between DBS and ComfortDelgro?
The partnership aims to enhance payment services for customers in Singapore. It allows customers to access and pay for taxi bookings directly and smoothly on the DBS PayLah! Platform, integrating ComfortDelgro into the ecosystem.
Q.How does this new partnership relate to previous collaborations between DBS and ComfortDelgro?
How does this new partnership relate to previous collaborations between DBS and ComfortDelgro?
The two parties previously partnered in 2017 to introduce QR code payment for taxi rides. This earlier collaboration helped establish widespread consumer use of QR codes for everyday transactions in Singapore.
Q.How many users does DBS's PayLah! Ecosystem currently serve in Singapore?
How many users does DBS's PayLah! Ecosystem currently serve in Singapore?
DBS's PayLah! Ecosystem currently serves 1.7 million users in Singapore. ComfortDelgro is the first public transport operator to be integrated into this platform, expanding its utility for these users.
Q.What percentage of QR code transactions were transport-related before the pandemic?
What percentage of QR code transactions were transport-related before the pandemic?
Before the Covid-19 pandemic, 20 percent of all QR code transactions took place within the transport segment. This highlights the existing use of digital payments for travel-related services.
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