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SINGAPORE - More people are giving hongbao (red packets) to their loved ones through digital channels, with banks seeing a surge in e-hongbao adoption last weekend.
DBS Bank said more than 9,000 DBS eGift transactions were made over the first two days of Chinese New Year - last Friday and Saturday (Feb 12 and 13) - and this was a 108 per cent surge from the same period last year.
The total amount transacted also spiked 215 per cent to $595,000.
DBS also saw higher usage of its QR Gift cards, which are physical gift cards that substitute traditional red packets.
They allow users of the DBS PayLah! app to scan a QR code to load cash. Non-DBS customers can also receive the QR Gift as long as they have registered for PayNow.