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Payment Platform Rewards in Singapore

In this article we delve into some of the reward and benefit schemes offered by some of the major payment platforms in Singapore. They serve to attract potential customers and satisfy current users of these wallets. However each of them have different types of rebates, benefits and platform rewards. Below is a list of them for readers to mould their opinions on the value of said platform rewards.

1) GrabPay

GrabPay has an intricate rewards system that makes use of GrabPoints to attain rewards. With every purchase you make via the GrabPay wallet, you gain some points that you can accumulate to redeem benefits.


As more and more points are accumulated by the user, they also get access to tier levels, from a normal member up until the platinum tier. The higher the tier access, the better and broader the platform rewards. This is one way that GrabPay uses to keep their customers on their payment platform.

These points also go hand in hand with the overall services offered by Grab, which involves services such as transportation, food delivery etc.


GrabPay also makes use of ‘challenges’; Grab offers live challenges, such as using Grab for transportation 10 times, or ordering via GrabFood five times. Successful completion of said challenges will also provide you with points to use.

Some of the items and places you can use your points for

With the many services provided on the Grab app, extensive merchant partnerships and good on offer, the GrabPay wallet provides strong and attractive platform rewards for potential users.

2) FavePay

FavePay is a payment platform that has its core idea based on a benefits system. Theapp focuses on providing users various discounts, cashbacks and deals with the merchants they have partnered with.

Some ways to use FavePay

FavePay offers discounts and up to 50% cashback at over 10,000 merchants in service sectors such as F&B takeaway or delivery, shopping, leisure etc. It also provides 1-for-1 promotion deals in restaurants if you use FavePay.

Similar to GrabPay in this regard, FavePay also offers certain ‘challenges’ that customers can complete so as to attain cashback. Challenges may range from completing your first purchase via FavePay to purchasing from a merchant a certain number of times. The more FavePay transactions you make, the more platform rewards you stand to get.

Examples of available discounts

Another merit of the platform rewards offered by FavePay is the availability of ‘eCards’. They are provided by FavePay at a discounted price and can be used in several merchants. The cashback you attain via eCards are higher than usual and can go up to $100.

Example of a FavePay eCard

However, the cons of the FavePay platform rewards system is that merchants can choose to provide a discount or a cashback. Many merchants typically offer cashbacks whose amounts are also controlled by them.

Hence, this makes the availability of the GrabPay wallet on the FavePay platform a very big advantage. By using GrabPay to fuel purchases of eCards and completing challenges, not only can users experience the benefits on FavePay but also the plentiful rewards that come with using GrabPay, too.

GrabPay wallet on FavePay

Thus, FavePay is excellent when it comes to it’s platform rewards and stands a very good chance of keeping its’ current users well-pleased.

3) Singtel Dash

SingTel Dash, another popular payment platform, has a myriad number of platform rewards as one can expect. Let us take a look at what they offer.


SingTel Dash has partnered with many popular merchants and offer many necessary services. If that is not enough, they also enable users to refer people toward using Dash. Referrers can share a referral code that when once used, will provide a reward of $2.

Top referrers will stand the chance to win up to $128 in Dash credits and can be used to transact with merchants or access the services provided on the platform.

SingTel Dash referral page

Various discounts and cashback deals are also offered by Dash. Examples may range from 5% off an F&B outlet or 5% discount on Foodpanda, to getting $2 cashback on your first Dash transaction.

As SingTel Dash has many partnered merchants and services, one can expect to put their deals and cashback to good use.

Some deals for retail on Dash

While you need not be a user of SingTel services, you will definitely experience the best of Dash if you are a SingTel user. For example, if you have a SingTel phone number, you can use Dash to pay your prepaid or postpaid bills and get cashback! Paying for groceries can also net you a 5% cashback.

Lastly, you can also attain other rewards, such as 1GB free mobile data whenever you pay your bills with Dash (Note that certain deals are valid till a certain date.)


There are many other benefits and deals offered on Dash that are constantly being updated. This freshness and constant availability of rewards mean that SingTel Dash is one of the very best when it comes to its platform rewards.

4) DBS PayLah!

DBS PayLah! is a mobile eWallet by DBS that comes with its own share of rewards and benefits for its users. Let us delve into a deeper look at them.

Services on PayLah!

Firstly, PayLah! allows you to earn card points such as DBS Points or POSB Daily$ which can help you to offset any bills that you have, or redeem any rewards.

This is just scratching the surface though, as there are discounts and promo codes that can be used for selected popular merchants, like three to five dollars off on transport services Gojek and ComfortDelGro, up to $18 off on the food delivery app Foodpanda, discounts on movie tickets for Golden Village, and many more.

Examples of rewards on PayLah!

PayLah! also has an initiative with CapitaStar to also allow users to gain STAR$® that can be used to redeem digital CapitaVouchers or eDeals that can help save up to 90% on the offer.

There are also great cashback offers on the PayLah! payment platform, too. Examples include an instant $200 cashback when a user has successfully applied for a DBS/POSB credit card, or a certain possible amount whenever a customer uses PayLah! for the first time.

To surmize, PayLah! does hold its own with the types of benefits and rewards that it offers its users and potential customers. It is little wonder as to why it is so popular in Singapore, though it certainly can improve itself.

5) Carousell Protection

Carousell Protection is a payment gateway for use within the Carousell app. It is more security oriented and is focused toward the app’s services itself.


We must understand that Carousell is a platform whereby non-merchants can sell new or used products that they own, very unlike FavePay or SingTel Dash. The introduction of Carousell Protection serves to ensure secure transactions.

One way to use it is to top up their eWallet on the app. By doing so, buyers and sellers are able to utilize the protection offered e.g money released only when customer receives product, possible proof that seller is not cheating etc.

The eWallet also allows for purchase of Carousell Coins, which can be used for advertisements, marketing and listing bumpings. This maintains the focus solely on the service offered by Carousell themselves.

Example of Carousell coin bundles offered

To boost the popularity of the Carousell coins, Carousell has implemented its own rewards system for those who purchase coins for Bumps, Spotlight, Listing Fees etc. They constitute of cashbacks in the form of Carousell coins.

There are three tiers of rewards; Bronze, Silver and Gold. The better the tier, the higher the coin cashback.


The downside is that Carousell coins can only be used to improve one’s listings. You are unable to use them to purchase goods from other sellers.

To counter this, Carousell has implemented DBS PayLah! into their system for use of Carousell Protection. So, you can either use your credit/debit cards or use PayLah!and enjoy the many platform rewards that PayLah! provides.

In conclusion, while Carousell Protection itself may be lacking in benefits due to it’s nature and use purely for Carousell services, the integration of DBS PayLah! is sure to give users a great uplift due to their own offered benefits.

6) NETSPay

NETSPay is arguably the most common and popular payment gateway in Singapore. It can be found and used in almost everywhere, from hawker centres to your favourite high-end retailers. Let’s take a closer look at how they provide their rewards.


One way to pay via NETSPay is to scan the available QR codes and then pay. You are able to use DBS PayLah! to scan the codes and transact. This allows you to experience said rewards and benefits over on the PayLah! platform.

That’s not all though, as NETSPay has implemented one of their loyalty solutions for users to enjoy. This is put in place by vendors and merchants who accept NETS as a form of payment and is meant for their customers.

These customers can activate their Retailer Stored Value Programme (RSVP) wallets and enjoy various offered discounts by merchants. This ensures that both the customer and merchant benefit.


Also, users with their NETS FlashPay cards have also been able to enjoy rebates and cashback when they use them for public transit like in MRTs or public transport buses.

However, while NETSPay is a popular choice due to its extensive list of partnered merchants and its easy availability, it is somewhat lacking in terms of it’s platform rewards. With the rise of other payment gateways and potentially many other different types in the future, it may be possible that people will start drifting towards these other eWallets.

Why so many types of rewards?

We must understand that there is a demand for payment gateways and platforms. This sector of the Fintech industry is booming with many competitors trying to come up with the best payment gateway.

Part of the solution to create the best platform for people to use is the type of rewards and benefits it is willing to provide its customers. There is little sense in using a particular payment gateway for transaction, when a similar gateway is also offering you discounts or cashback offers and rebates for the same purchase.

These rewards are also bettered when these platforms are also partnered with popular go-to merchants, whether in retail or F&B. To distinguish themselves from the competition, the entities behind these payment platforms are continuously expanding their partnerships to more vendors so that their offered benefits have more power behind them and potential for use.

Ultimately, consumers do want an all-in-one package for themselves and this applies to Fintech too. Competitors definitely want to establish themselves as the payment platform, and having a strong rewards system will only serve to help them in their goals.

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