DBS Bank credit card holders can now redeem their credit card points instantly with a new mobile application called DBS Rewards.
It is the third lifestyle mobile app introduced by the local bank following the launch of two other lifestyle apps, DBS Indulge and DBS Shopper. DBS now has a total of 14 mobile apps.
Users of the app would be able to log in with their NRIC and credit card number to track their points and redeem rewards at participating merchants instantly with their mobile phones.
A different DBS credit card can be used at the participating merchant, so long as the card is registered under the same name as the one used for redemption.
Of the 1,000 merchant outlets that DBS Bank has, about 300 have come on board the redemption programme, which was launched on June 7.
Ooi Huey Tyng, senior vice-president and head of cards and unsecured loans, said the bank "is constantly on the lookout for quality merchants" to participate in the programme.
Currently, rewards from different categories, including dining, retail and travel perks, can be redeemed.
The app has been downloaded some 10,000 times since its launch on the Apple app store. About 3,000 instant rewards have been redeemed since then, the bulk of which are F&B-related.
The bank has also launched a new one-point redemption promotion, which allows users to redeem items such as desserts and shopping vouchers for just one point.
A DBS spokesman said an app for Android-compatible phones will be unveiled around year-end.
To make the app "customer-centric", a new augmented reality feature will allow users to look for nearby participating merchants with the 'CamView' function, which taps on the in-built cameras on their iPhones and iPads.
Ms Ooi said the launch of the mobile app was timely, given that "mobile traffic is expected to increase 18-fold between 2011 and 2016".
She added: "With the increasing popularity of smart devices, the mobile platform is a space that the bank is focusing on."
A Cisco Visual Networking Index showed that global mobile data traffic grew 2.3 times in 2011, and has more than doubled for the fourth straight year.
Merchants, too, stand to benefit as paperwork and manual tracking of redemption vouchers are reduced.