SINGAPORE - With Chinese New Year around the corner, the hongbao - or red packets - traditionally exchanged during this period are on the minds of many Singaporeans.
In a statement on Monday (Jan 11), the Monetary Authority of Singapore (MAS) encouraged Singaporeans to opt for e-hongbao this Chinese New Year. They will help to reduce queues for physical notes and are more environmentally friendly, MAS said.
One way to send e-hongbao is via PayNow.
Those who bank with Citibank, DBS Bank, OCBC Bank, Standard Chartered Bank, UOB and Maybank will soon be able to add Chinese New Year greetings when they do so. The messages can be sent via WhatsApp or SMS.