DBS becomes first Singapore bank to help merchants accept card payments on smartphones

New cashless collection capability on DBS MAX app helps merchants reach a wider pool of customers, including tourists, with ease

Payment solutions for businesses and pop-up stalls

As the first Singapore bank to offer such a feature, DBS is now able to provide a full suite of digital payment solutions to merchants – including contactless cards and QR code payments via DBS PayLah! and PayNow – through one application, helping them streamline their banking and payment channels.

Customers can simply tap their physical or contactless card on a merchant’s phone that is installed with the DBS MAX app to complete a transaction. Popular NFC-based payment systems like Apple Pay, Google Wallet and Samsung Wallet are accepted.

In contrast to existing solutions, the feature also includes a simplified set-up process to help merchants scale their points-of-sale quickly, conveniently and with greater flexibility. For example, merchants setting up pop‑up stalls can enable the ‘tap-to-phone’ service in three simple steps through the DBS MAX app.

Another benefit to merchants is the ability to transact with new customer segments, including overseas visitors who may lack access to compatible digital wallets or prefer card payments over cash. This gives businesses the opportunity to tap different customer streams, especially as tourism receipts in Singapore reached new highs in 2025, topping SGD 23.9 billion in the first nine months alone^[2].

Tesy Mathew, Group Head of Cash Product Management, Global Transaction Services at DBS, said: “Amid a dynamic business landscape, the ability to streamline operations and reach more customers are key components to build more resilient businesses. Convenient, secure and reliable payments and collections form the bedrock of any merchants’ operations. With ‘tap-to-phone’, we are thrilled to add a new collection mode to the DBS MAX app. Businesses can transact in a more efficient and cost-effective manner and scale confidently to capture new opportunities. Retail customers benefit too, as they now have more avenues to use their preferred contactless payments across Singapore.”

DBS MAX was first introduced in 2018. It is designed to be a one-stop cashless collections solution that integrates funds collections and automated book-keeping into a single mobile app.

^[1] Payments’ state of play 2026 (PwC): Cashless transactions are accelerating in Singapore, with the digital payments market projected to grow at an 18.3% compound annual growth rate to USD 480.6 billion by 2030. Credit and debit cards remain the dominant payment method, commanding a 72% share of transaction value in 2024

^[2] Record Singapore tourism receipts from January to September 2025 (Singapore Tourism Board)

<sup>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 17 consecutive years from 2009 to 2025.

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 uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.

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 visit www.dbs.com.</sup>