Passengers of ComfortDelGro taxis can now choose to pay for their fare using a quick response (QR) code, in a tie-up between the taxi company and DBS Bank.
This is the first time QR code payment – a type of barcode read by devices – is being introduced for taxis in Singapore, DBS said in a press release on Thursday (Jul 27).
Starting Aug 10, users of the bank’s mobile wallet DBS PayLah can scan the QR code on the cashless payment terminal of any of the 16,000 ComfortDelGro taxis, and the app will automatically process the payment.
ComfortDelGro taxi CEO Ang Wei Neng said the move is part of the company's plan to provide more cashless and more convenient payment options for passengers.
"Cashless transactions account for one-fifth of all our taxi trips. We expect its volume to grow steadily as passengers become more accustomed to paying using such payment modes,” he added.
DBS said it has witnessed "a dramatic shift" in the behaviour of consumer's payments, who are becoming more inclined to cashless payments and withdrawing lower amounts of cash from ATMs.
Between June 2016 and June this year, the number of DBS PayLah transactions and payment volume more than doubled, DBS said