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DBS launches QR code-based B2B payments and collections solution

Stanislaus Jude Chan
Stanislaus Jude Chan1/20/2020 01:39 PM GMT+08  • 4 min read
DBS launches QR code-based B2B payments and collections solution
DBS' QR code-based B2B payments and collections solution is expected to save one F&B operator up to 3,300 manhours a month.
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SINGAPORE (Jan 20): DBS Bank has launched a QR code-based solution to help food and beverage (F&B) operators with the largely cash and paper-based payments and collections with their suppliers and vendors.

SG5, a wholesale distributor of beer and stout, which was one of the first to pilot the business-to-business (B2B) payments and collections solution, expects to save up to 3,300 manhours a month from this initiative.

“On average, our frontline staff spend around 3.5 hours every day traveling to different parts of the island to collect cash and cheque payments,” says Alvin Chua, CEO of SG5.

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