SGD 1.3 Million Were Loaded in DBS’ QR Ang Baos This Chinese New Yearby Fintech News Singapore February 15, 2019
DBS Qr Ang Baos launched on the 25 January, was a twist to an old tradition, it provide users with the ability to ‘load’ their desired cash values onto unique QR codes and hand them out as ang baos.
The novel solution has proved to be popular among its customers, with SGD 1.3 million being loaded in the Ang Bao within two weeks with 64% of sum being above SGD 6.
Unsurprisingly, the 1st day of Chinese New Year saw the highest amount of money loaded into the QR angbaos. The bank also shared that the largest demographic using the services are between the age of 30-49.
The number of eAng Baos sent in 2018 was six times higher than that of 2017. The average number of eAng Baos sent per day this CNY is double that of last year. In addition, the bank has seen a jump of more than 40,000 new DBS PayLah! eAng Bao users during this period.