SINGAPORE, Feb 2 — Instead of receiving ‘angpows’ during house visits this year, some people may get Disney characters Mickey and Minnie Mouse delivering an e-angpow (electronic angpow) to their mobile phone.

Amid Singapore’s push for a cashless society, banks here have launched new e-angpow this Chinese New Year to get more people to adopt the practice.

Using peer-to-peer funds transfer service PayNow, the e-angpows allow users to transfer money to a recipient using just his or her National Registration Identity Card or phone number.

While some banks have reported a surge in the number of PayNow transactions during the festive periods, the e-angpows have received mixed reactions from customers.

To get more converts on board, some banks are turning to cute cartoon characters and QR codes.

Standard Chartered Bank has partnered with Hong Kong Disneyland for its new e-angpows this year and customers using its mobile app can send ‘angpow’ money along with new year greetings featuring Mickey and Minnie Mouse.

Usman Khalid, executive director & head, deposits & payments, Standard Chartered Bank, said that the bank has seen a fourfold year-on-year increase in PayNow transactions since 2017.

“This service fits in nicely with the cashless lifestyle our customers are already adopting,” he added.

DBS Bank is also launching a new e-angpow, albeit with a traditional twist.

Users of the DBS’ QR Ang Baos can scan the QR code embedded in a physical card and load the ‘angpow’ with money using the bank’s app.

Recipients of these e-angpows can instantly redeem the loaded value by scanning the QR code using mobile banking apps.

Citibank also launched a new e-angpow feature in its app yesterday to allow users to do fund transfers via PayNow.

Like Standard Chartered Bank, DBS has also seen a rising trend in people using e-angpows. Jeremy Soo, managing director and head of DBS Bank Singapore’s consumer banking group said that the number of e-angpows sent via the bank’s app increased by six times from 2017 to 2018.

OCBC Bank also saw the number of transactions and total amount transacted via the bank’s Pay Anyone service increasing during Chinese New Year over the same period.

Chea Rui Xuan, 20, is among a younger generation of Singaporeans who has embraced e-angpows. The student said she preferred e-angpows as cashing them is more convenient.

“A lot of us (peers my age) don’t even carry cash most of the time and e-angpows would be a very natural extension of that”, she said.

However, others like executive Loke Qi Wen, 30, are sticking with traditional ‘angpows’ as he feels that giving one in person is a thoughtful and auspicious gesture.

“If we lose the physical ‘angpow’, we will lose the meaning of blessing others with well wishes,” he said.

Adding that e-angpows are “just a gimmick”, sales engineer Melody Mok said: “If my relatives meet up with me and transfer me a certain amount of money, the feeling is different from receiving a physical red packet.

“I don’t use e-hongbaos because I think the tradition is still there (with a physical ‘angpow’).” — TODAY