DBS launches Programmable Rewards, bringing blockchain-powered digital vouchers to DBS PayLah!
Programmable Rewards is a simple, cost-effective and scalable digital voucher solution, powered by DBS Token Services
As an initial offering, customers can redeem DBS points for Flexi eVouchers on DBS PayLah!, usable at 40,000+ acceptance points with NETS QR
For a limited time, DBS will offer a special SG60 promotion in celebration of local businesses
Digital vouchers simplified for all
Programmable Rewards is part of DBS Token Services, the bank’s suite of services integrating tokenisation and smart contracts capabilities with its award-winning transaction banking services.
The solution simplifies the creation, maintenance and scalability of digital voucher programmes, while enabling the introduction of new customer experiences. By integrating with DBS PayLah! and existing national payment infrastructures such as NETS QR with SGQR label, Programmable Rewards provides issuers of digital vouchers direct access to over 2.9 million wallet users and over 40,000 acceptance points in Singapore.
Smart contract technology allows vouchers to be programmed with specific conditions, such as redemption at approved merchants or within campaign periods. When a customer uses the voucher, its conditions are automatically verified. Then, cash payments are made to merchants through existing payment rails like NETS, automating voucher settlement and streamlining reconciliation.
Han Kwee Juan, Group Head of Institutional Banking at DBS, said: “Programmable Rewards showcases the potential of DBS' one-bank proposition. By integrating our consumer and institutional banking capabilities with smart contracts and blockchain technology, we have created a transformative platform to rapidly launch and scale digital voucher programmes. This platform's extensive reach, connecting millions of consumers with a vast network of merchants across Singapore, establishes a powerful ecosystem for impactful and scalable digital interactions.”
“Programmable Rewards is a highly versatile solution. We are exploring its potential to support a wide range of applications, including government initiatives and enabling businesses to launch employee reward programmes and targeted marketing campaigns,” he added.
DBS Rewards Flexi eVoucher: Celebrating SG60 and supporting local businesses
As part of the first Programmable Rewards launch, DBS/POSB credit cardholders can redeem their DBS Points and POSB Daily$ for DBS Rewards Flexi eVouchers on DBS PayLah! and spend at any merchant with a valid NETS QR with SGQR label. NETS QR with SGQR label is widely adopted by more than 40,000 small and medium-sized enterprises across Singapore, including neighbourhood hawkers and businesses.
From 1 August to 30 September 2025, DBS will be running an SG60 special: Double the value of your DBS Points. Participants who redeem 6,000 DBS Points in exchange for an SGD60 DBS Rewards Flexi eVoucher will receive an additional SGD60 cashback.
Programmable Rewards builds on DBS' multi-year participation in the Monetary Authority of Singapore-led digital money project, Project Orchid[1], which explores use cases for Purpose Bound Money (PBM) and a digital Singapore dollar in Singapore.
In 2022, DBS completed Singapore’s first programmable money use case for government vouchers in partnership with Open Government Products, where pilot users trialled the use of PBM for vouchers to be spent at multiple designated merchants, akin to a digital voucher. DBS further expanded its application to programmable grants disbursement in a 2024 pilot for Enterprise Singapore’s Local Enterprise and Association Development (LEAD) Trade Fairs and Business Missions programme.
[1] Project Orchid is a multi-year multi-phase project led by the Monetary Authority of Singapore to develop the technology infrastructure and technical competencies necessary for a digital Singapore dollar. As part of Project Orchid, the Purpose Bound Money (PBM) protocol is developed to investigate the potential benefits of programmability in digital money. PBM is a protocol which specifies the conditions upon which funds can be disbursed when conditions are met.
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visitwww.dbs.com.
