POSB Smart BuddyContactless payments ecosystem to cultivate sensible savings and spending

habits among young students in an interactive, engaging manner !

Introducing The Smart Buddy Ecosystem

Parents set daily

allowance to child’s

watch via Smart

Buddy app

Smart Buddy

mobile app to

manage your

child’s finances

Child make

purchases

using Smart

Buddy watch

Canteen food

School

bookshop

Selected merchants

out of school

• KFC

• Pizza Hut

• Popular

• And many more

Smiley

digital

Stamps

Track health;

steps, calories

counter

Track stamps

digitally

Track savings

Goal setting

for child

Track

transactionsApp features:

TAP ON READER

PRICE $1.50

The Student’s Journey – How do they make payments in canteen/bookshop?

1. Student goes to the bookshop to buy a pen. 2. The student views total amount before tapping to pay.

TAP ON READER

PRICE $1.50

PRICE $1.50

BALANCE $0.50

Easily check balance at kiosk

View transaction Increase allowance

& more

Auto savings (Optional):

• Leftover allowance

automatically transferred

into POSBkids Account on

a monthly basis

Easy set up of allowance:

• One time set up of daily

allowance up to SGD$100

• Able to change allowance

limit instantly if additional

allowance is required

SafeConvenient

• Disable band function in

case of theft/loss of band

• Grant child access* to

the mobile app, allowing

them to monitor his/her

savings and spending

behavior

*unable to change allowance settings

• Able to personalise

watch via mobile app

ZECH

Health tracker:

• Watch works as a steps

counter to track calories

burnt and distance covered

Tracking of expenses:

• Able to know what child

is eating or buying in/out

of school

Financial literacyMonitor

• Goal setting function to

encourage kids to save

up for something

• Digital tracking of

POSB Smiley Stamps

for National School

Savings Campaign

• Fuss free, does not

require sending of

physical stamp card to

the bank.

• Auto crediting of

stamps savings to

POSB kids account

School’s data analytics

Overall Spending Trend

By Individual Stall

By Individual Item

Smart Buddy Extensions

Financial Assistance Scheme (FAS)

In school Location Tracker (time in / time out)

Bus Tracker (time in / time out & location)

(pilot/testing in progress)

Contactless Payment

& many more…

Smart Buddy : Financial Assistance Scheme Portal

Create Multiple Fund Source

Assign Fund Sources

Easy Registration

Transaction Report

Benefits to Canteen/Bookshop Vendor

Direct credit into your bank account (next working day)

FREE Payment Terminal

NO Setup Fees

NO Monthly Changes

NO Service Charges

Easily monitor and track your sales

NO more manual handling of cash (bulky coins)

FREE Training will be provided

Easy setup of menu

Support provided

Prepare/Print Welcome Pack

Frequently asked questions

Must the whole school sign up for POSB Smart Buddy?

No, the school is open to decide on the participating levels/cohorts, i.e. P1 to P6, or P3 to P6 only.

What account is needed to sign up for POSB Smart Buddy?

Parent DBS/POSB Current/Savings Account

Child POSBkids Account (only if the parent opts to automatically transfer the child’s allowance savings)

Is the POSB customised watch free?

Yes, however, there will be fee charged for a replacement.

When will the canteen/bookshop vendors receive the proceeds from their daily sales?

All proceeds will be credited automatically to the vendor’s DBS/POSB Account on the next working day.

Can DBS provide a briefing to the canteen vendors and parents ?

Yes, we will be able to prepare the communication materials and conduct a briefing on POSB Smart Buddy. All

materials will be approved by the school before circulation.

Can cash still be accepted in school?

Yes, the Smart Buddy Watch serves as another option for payments.