The three-year MOU will expand the POSB Smart Buddy programme across all junior colleges\/Millennia Institute, secondary and primary schools by 2025. Students will be able to make e-payments via their free POSB Smart Buddy cards and smartwatches, and other payment modes such as EZ-Link cards at tap-and-pay terminals which DBS\/POSB will install in schools.\u00a0 Students at Xihan Primary School use their POSB Smart Buddy watches and EZ-Link Cards to pay for meals and bookstore buys. DBS\/POSB and the Ministry of Education (MOE) today announced a three-year Memorandum of Understanding (MOU) to widen the access to contactless and digital payments, in all junior colleges\/Millennia Institute, secondary and primary schools in Singapore. DBS\/POSB will install digital payment infrastructure, including tap-and-pay terminals, in school canteens and bookstores. The tap-and-pay terminals to be installed can accept payments made through POSB Smart Buddy smartwatches or cards, as well as other payment modes, such as the School Smart Card and EZ-Link Card. Students in line to check their allowances at the POSB Smart Buddy Balance Reader. Mr Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, said: \u201cIt is incumbent on us to ensure that no one is left behind in this digital age. The POSB Smart Buddy programme was designed to make digital payments and financial literacy simple, seamless, and accessible to all. Through this partnership with MOE, 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 savings and spending habits. We believe these skills will provide a solid foundation for achieving financial wellness when they transition to the next stage of their lives.\u201d Mr Clarence Tang, Divisional Director, Finance and Procurement Division, MOE, said: \u201cMOE recognises the growing use of e-payment in our society. Having a cashless option in schools will provide students with an environment to use e-payment safely while enjoying the convenience and benefits of going cashless, such as faster transactions when making purchases.\u201d A student is making a purchase at a POSB tap-and-pay terminal at Xishan Primary School bookstore. A student at Xishan Primary School is making a purchase at the canteen. POSB Smart Buddy Programme The POSB Smart Buddy Programme was launched in 2017 and is the world\u2019s first integrated in-school wearable digital savings and payment programme. Under the Programme, students and their parents can track their spending and saving patterns via the POSB Smart Buddy app. Students can also use the app to set savings goals, while parents can manage their child\u2019s spending by setting daily allowance limits and viewing their child\u2019s purchases in real-time. Since the founding of the programme, the bank has been collaborating with participating schools to provide a more integrated e-payment experience, such as using POSB Smart Buddy to assist schools in administering meal subsidies to students on financial assistance. By 2025, all students in Singapore will be able to make e-payments for their meals and purchases in school. Today, some 40,000 students from about 80 primary and secondary schools are using POSB Smart Buddy smartwatches and applicable cards to make e-payments in schools. In a DBS\/POSB survey of more than 600 parents, more than 65% of respondents said POSB Smart Buddy has helped their children save and manage their expenses better. More than 70% of respondents also found that POSB Smart Buddy was a useful tool to help educate their children about savings and expenditure. In addition, more than 90% of parents surveyed believed that it was important for their children to be familiar with using digital tools for daily activities as the world becomes increasingly digitalised. About DBS DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. Recognised for its global leadership, DBS has been named \u201cWorld\u2019s Best Bank\u201d by Euromoney, \u201cGlobal Bank of the Year\u201d by The Banker and \u201cBest Bank in the World\u201d by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named \u201cWorld\u2019s Best Digital Bank\u201d by Euromoney and the world\u2019s \u201cMost Innovative in Digital Banking\u201d by The Banker. In addition, DBS has been accorded the \u201cSafest Bank in Asia\u201d award by Global Finance for 13 consecutive years from 2009 to 2021. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region\u2019s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com. About the Ministry of Education The Ministry of Education (MOE) formulates and implements education policies on education structure, curriculum, pedagogy, and assessment. It oversees the management and development of Government-funded schools, and the Institute of Technical Education, polytechnics and universities. More information on MOE can be found at www.moe.gov.sg.