Need help understanding DBS (beep beep kaching) cashback calculation of rebates?

Hi all, referring to the beep beep kaching cashback here. I've been getting $17 cashback for the last two months, however, logically speaking, if the minimum spend is $400 and cashback is either 5% or 10%, doesn't that mean that cashback should at least be $20? Would appreciate answers to this! Thanks!

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Ivan Tan Jun Wen

29 Sep 2018

There are 2 terms that you need to take note of: Qualifying Spend vs Contactless Spend.

To be entitled to cashback, you need to have a minimum qualifying spend of $400, while the cashback provided is based on the Contactless spend.

From https://www.posb.com.sg/iwov-resources/pdf/depo...

"Qualifying Spend refers to retail transactions charged to Card account in a calendar month and posted into the Card Account at the point of computation of Cashback. Qualifying Spend includes Debit MasterCard/VISA retail transactions, Contactless transactions, Mobile Wallet transactions (Apple Pay / Samsung Pay / Google Pay), NETS Contactless transactions, Scan and Pay transactions (NETS QR, PayLah! QR codes) and PayLah! Funded FasTrack transactions. "

There are transactions which counts towards qualifying spend but not contactless spend, such as signature based transactions. Note that PIN based transactions (such as NETS transactions) do not count towards either qualifying or contactless spend. Cashback is also not valid for any contactless transactions above S$200 per transaction.

So for example your spending for the month could be: (assuming no cash withdrawals)

$400 Mastercard (signature-based payment)

$170 Mastercard (contactless payment, such as paypass)

You are eligible for cashback due to your minimum spend being $400 but your cashback earned would be ($170*10%) = $17.

Hope this helps!

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