To help businesses become more resilient and adapt to new post-COVID norms, the government launched the Digital Resilience Bonus (DRB) as part of the Fortitude Budget. The Food Services and Retail sectors, which were more affected by safe distancing requirements, will be the first to qualify for the DRB.
As a supporting bank of this initiative, UOB can help you implement the baseline requirements of PayNow Corporate and e-invoicing, and unlock bonus payouts when you adopt and use UOB's digital solutions for your business, as qualified by Infocomm Media Development Authority (IMDA).
How it works
From 1 June 2020 to 30 June 2021:
Step 1: Sign up for the pre-requisite solutions (UOB PayNow Corporate and Peppol e-invoicing)
Step 2: Take up qualified UOB digital solutions and partner digital solutions within various categories and use the solution(s)
Step 3: Providers of qualified solutions will send your UEN and usage information to IMDA (Note: you will need to have used the solution(s) to make at least 1 transaction in the month of submission)
Step 4: Receive bonus via PayNow Corporate from August 2020 onwards
Qualifying UOB Solutions – Food Services
||Digital solutions to be used in addition to PayNow Corporate and Nationwide e-Invoicing Network
|Category 1 ($2,500)
||All 3 solutions: Accounting, HR/Payroll and Digital Ordering (Dine-in/Takeaway)
|Category 2 ($2,500)
||Online Food Delivery (via food delivery platforms or own online shopfront) or e-Procurement
|Category 3 ($5,000)
||Data mining and analytics
|More information to be provided
To further assist you in your business’s digital transformation, you can leave your contact details with us. We will reach out to you within 3 working days to guide you through the transformation process.