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The ongoing COVID-19 pandemic has further accelerated the adoption of digital payment methods. As contactless transactions became safer and more appealing, a shift away from physical exchanges was observed globally. In Singapore, 95% of financial transactions are now conducted digitally, underscoring a broader trend towards cashless and contactless payments.
For many, especially in circumstances where visiting relatives in different countries is impossible, digital hongbao offers a safe and efficient alternative. It preserves the tradition of gift-giving while adhering to social distancing measures, ensuring that the spirit of sharing remains alive even virtually.