Step by step guide to apply PSG (Grant) for POS System (2020)

Updated: Nov 6, 2020

#businessgrantportal #psggrant #smegodigital #imda #vend #possystem


What is productivity solution grant (PSG)



Last update. Feb 24, 2020


For Eats365 PSG, please refer to Ultimate guide to apply PSG for digital food ordering and POS system


More than 500 retailers in Singapore have chosen Vend as their preferred POS system solution to manage and grow their business. Vend is one of the leading retail management and inventory management solutions globally and in Singapore trusted by all sizes of retailers selling from the stores or omnichannel. As the pioneer in revolutionizing retail business with cloud technology, Vend point-of-sale has empowered retailers to overcome many constraints that conventional POS systems unable to do. Find out about the comparison between cloud-based POS and conventional POS in this article.


EISOL has been appointed as a pre-approved ICT vendor (until 16 Jun 2020) to offer a total solution for Vend solution including consultancy, Vend license, POS hardware and training, and support for Vend. We have seen some retailers grow significantly in revenue and able to expand to more outlets and an increase in SKU profiles to their customers. Check out how Singapore retailer did it from the case study for successful retailers.



With the partnership with IMDA and support from Enterprise Singapore, EISOL is offering the following package to SME clients in the retail business.


  1. VEND Pro Advanced RMS - Package (Standard)

  2. VEND Pro Advanced RMS - Package (Omnichannel)


This article is to help retail SME clients to evaluate the available financing option while adopting proven productivity solutions to grow their business.


Let's get started!


  1. An overview of PSG (Grant) application process

  2. Detail walkthrough for submitting PSG (Grant) application at business grant portal

  3. Detail walkthrough for submitting PSG (Grant) claim at business grant portal (To be available)

  4. Frequently Ask Questions (To be available)




1) An overview of PSG application process


2020 Productivity solution grant application process guide.

Now you have a good understanding about the PSG (Grant) application process and let's have a look at the important things you should take note while applying for PSG (Grant).


i. Check your eligibility


If you have started a new business or trying to apply PSG (Grant) for your existing stores. Before you start to apply, let's check your eligibility,


  • Must be a SME

  • Must be registered in Singapore

  • Must have 30% local shareholding ownership criteria

  • Purchase/lease of the equipment must be used in Singapore


ii. Don't do before applying for PSG. Don't!


  • Made any payment to a supplier, vendor or third party in relation to the purchase/lease of the equipment

  • Signed any contract with a supplier, vendor or third party in relation to the purchase/lease of the equipment (before the application)


iii. Check out the list of POS solutions at smeportal.sg



iv. Get ready with necessary documents (for applying)


  • ACRA BizFile extracted less than 3 months.

  • Last 3 years of financial statement of your company. For new company you can enter as $0 and a blank file.

  • A quotation from the POS vendor as per the vendor Letter of Appointment (annex 3) issued by IMDA. Get a quote now!

  • Remember to sign the Letter of Intent (LOI) which is needed later for your claim. The LOI usually do not enforce SME client to commit to the vendor quotation.


v. Receive approval and commencing the deployment


  • It may take up to 6 weeks before your application being accepted (or rejected).

  • Enterprise Singapore will send email directly to the applicant to notify the success or reject of application. Or request for more information needed for the approval.

  • Remember to "Accept" the Letter of Offer at businessgrants.gov.sg and make sure you have "Acceptor" role with your Corppass login. Check out how to enable Acceptor role

  • Changing POS vendor after received approval of your PSG application is possible as long as the desire POS solutions is provided by the list of vendors in smeportal.sg but it is best to write in to Enterprise Singapore


vi. Submit your claim


  • You should have use the POS system for at least 1 month and able to extract the sales transaction data for the past one month before submitting the claim. You will be asked for the 1 month usage report as mandatory supporting document.

Get Vend software license number for PSG claim.
Where to get vend license number
  • Get ready for following documents: Invoice, Bank Statement showing payment, Letter of Intend (Purchase order or signed acceptance of quotation/Contract), Receipt, Cheque, Picture of the hardware (with serial no), Software license number, Usage report (at lease one month)

Supporting documents required for PSG claim
Supporting documents required to submit to Business Grant Portal
  • Download the GIRO Form from Enterprise Singapore website. Fill up and mail to Enterprise Singapore, Finance Division, 1 Fusionpolis Walk, #01-02, South Tower, Singapore 128628.


vii. Onsite audit requirement


  • By receiving the PSG grant you are bound to comply to the audit requirement to ensure that the POS solution that you purchase using government grant are for the intended purposes.

  • It is at Enterprise Singapore discreet to raise the audit request randomly after the implementation of the POS system. In our record, we have heard from the retailers that they have receive the audit request after 1 year of using the POS system.

  • You are advice to keep all the necessary documents such as receipt, invoice, quotation and POS hardware and software that purchase along with the PSG grant (even if you have decided to cease operation) to ensure that the audit process can carry out smoothly.





2. Detail walkthrough for submitting PSG application at business grant portal (BGP)


2.1. Once you have receive the quotation from POS vendor, you can start the application process by going to https://www.businessgrants.gov.sg

business grant portal login page

2.2. Get ready with your CorpPass login and clikc on LOG IN or Login with CorpPass. Take note of the alert such as Scheduled Maintence and plan your schedule.

Business grant portal login with CorpPass

2.3. Business Grant Portal will require 2 Factor Authentication (2FA) which you can choose to get the One time pin (OTP) from SMS or using SingPass Mobile App to autheticate your login.

Using SingPass mobile app for 2FA.

2.3.1. We choose SingPass Mobile App to autheticate.


User approved login request via SingPass Mobile app.

2.4. User with either Acceptor or Preparer role are allow to submit PSG application.


2.4.1. Click Get new grant to start the application.

Start a new application for PSG grant.

2.5. Choose Retail sector for Vend POS

Select retail sector from business grant portal to apply for retail pos package listed under PSG.

2.6. Select second option Upgrade key business areas, such as adopt technology, improve business processes or raise service standards.

Select PSG grant package for retail POS System.

2.7. Select first option Pre-scoped Productivity Solutions.