Under a partnership with DBS, every primary, secondary school, junior college, and the Millennia Institute will have digital payment terminals by 2025
By 2025, all primary and secondary schools, junior colleges, and the Millennia Institute in Singapore will be equipped with digital payment terminals, under a new agreement between the Ministry of Education (MOE) and DBS. These terminals will be installed in school canteens and bookstores, offering convenient tap-and-pay options for students.
The initiative is an extension of a project that began in 2017, where DBS and POSB started installing digital payment terminals in select schools. The expansion is part of a three-year memorandum of understanding to broaden students’ access to contactless and digital payments. The new terminals will support payment methods including POSB Smart Buddy smartwatches and cards, School Smart Cards, and EZ-Link Cards.
Additionally, POSB Smart Buddy smartwatches will be provided to students at schools that have not yet participated in the digital payment programme. Launched in 2017, this programme helps students manage their payments and track their spending and savings habits through a mobile app.
DBS’s Managing Director and Head of Consumer Banking, Jeremy Soo, explained that this partnership with MOE aims to help students become familiar with digital payments, fostering financial literacy and responsible spending habits. MOE’s Clarence Tang added that offering cashless payment options in schools ensures a safe and convenient environment for students to learn about e-payments.
Currently, around 40,000 students from about 80 schools are already using the POSB Smart Buddy programme to make digital payments.
