More students will be able to use cashless payments in school as the POSB Smart Buddy Programme is poised to roll out across more tiers of education, extending its reach to all primary and secondary schools, junior colleges and Millennia Institute by 2025. Since its launch in 2017, Smart Buddy has been implemented across 80 primary and secondary schools and is expected to increase to 340. 40,000 students are currently on board the programme. An online survey was conducted by POSB of more than 600 parents with positive reception.
Over 65 per cent of respondents felt that Smart Buddy helped their children save and manage their expenses better.
Over 70 per cent of parents found that the programme is a useful tool to help educate their children about savings and expenditure.
Over 90 per cent of the respondents added that it is important for their children to be familiar with using digital tools as the world becomes increasingly digitalised.
A next generation smart watch with improved features and user interface is in the works to better address the needs of students.
We aim to give every student the option to familiarise themselves with using digital payments in their everyday lives, while learning how to cultivate prudent saving and spending habits.
Mr Jeremy Soog, DBS Bank’s managing director and head of consumer banking group on partnering with MOE to expand Smart Buddy
Having a cashless option… will provide students with an environment to use e-payment safely while enjoying the convenience and benefits of going cashless.
Mr Clarence Tang, divisional director of MOE’s finance and procurement division