DPM Heng Swee Keat announced on 26 May 2020 that the government has set aside over $500 million to support businesses in its digital transformation.
Infocomm Media Development Authority (IMDA), National Environment Agency (NEA), JTC, Housing Development Board (HDB) and Enterprise Singapore will provide a bonus of S$300 per month over five months to stallholders.
This bonus aims to encourage more stallholders in hawker centres, wet markets, coffee shops and industrial canteens to use e-payments and avoid having to handle cash.
A Digital Resilience Bonus will also be introduced to help businesses take their next step to digitalise, starting with F&B and retail sectors.
With the advent of COVID-19, digital solutions have now become more important.
There will be a bonus of $300 per month over 5 months if a business chooses to take up e-payment as a form of digital transformation
Digital Resilience Bonus: Up to $5,000 to help businesses take their next step towards digitalisation (eg. PayNow Corporate, e-invoicing, e-commerce solutions in the F&B and retail sectors)
Additional $ 5,000 if they adopt more advanced solution like Data Mining & Analytics.
Total payout of $ 1,1500 if all 3 solutions are adopted by the F&B and retail sectors.