Issue #33: What’s Happening This Week? New Car Subscription Platform ZipZap, Up to $120 NTUC E-Vouchers, and More

This week, a new car subscription platform is challenging the idea of traditional car ownership, while solo travel is making waves as more Singaporeans head out on their own. NTUC’s latest support scheme could help ease the squeeze on daily expenses for lower-income families.

On the economic front, growth is expected to cool, and that’s starting to ripple through sectors like retail and hiring. Meanwhile, MAS is holding its ground on monetary policy—at least for now.

Whether you’re here for the big picture or the fine print, here are 6 stories you’ll want to catch this week. Let’s dive in.

TLDR; ZipZap, a new car subscription service by GetGo’s team, offers flexible, all-inclusive car access as an alternative to ownership. A Scoot-commissioned study shows solo travel is becoming mainstream in Singapore, especially among millennials seeking flexibility and self-discovery. NTUC’s U Stretch programme offers up to $120 in e-vouchers to eligible lower-income union members to help with daily expenses. MAS projects slower growth in H2 2025, with retail and F&B sectors likely to feel the effects of global economic headwinds. MOM reports a rise in employment in Q2, but hiring and wage growth are expected to soften amid global uncertainties. MAS leaves monetary policy unchanged, noting stable inflation and a more resilient global economy despite earlier easing in January and April.

Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.

 

New car subscription platform ZipZap launches

GetGo’s founding team has launched a new mobility venture in Singapore—ZipZap, a flexible car subscription platform offering all the perks of car ownership without the baggage.

Aimed at modern drivers who want control without long-term financial ties, ZipZap allows subscribers to drive a dedicated car for a fixed monthly fee. That fee includes maintenance, insurance, servicing, and even extras like doorstep delivery and fuel perks. No down payments, and no surprise costs.

What ZipZap offers:

• Lets users drive a dedicated car without owning one
• Charges a single monthly fee that covers insurance, road tax, and maintenance
• Allows subscription terms starting from 6 months, with some flexibility
• Includes consultation support, especially around budgeting
• Offers a replacement car when the main vehicle is under servicing

As a pilot perk, ZipZap is offering a Subscribe & Share feature that lets subscribers can list their car on GetGo’s platform when not in use to offset fees.

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ALSO READ: How the (COE) Certificate of Entitlement System Works: Bidding & Process

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Scoot study: Solo travel takes off in Singapore

Thinking about taking a trip alone? You’re not, well, alone. A new white paper from Scoot reveals that solo travel is firmly on the rise in Singapore—especially among millennials.

According to a YouGov survey commissioned by Scoot, 79% of Singaporean respondents took more than one solo trip in the past year. Of those, nearly half (49%) went on three or more. What’s driving the trend? Freedom, flexibility, and the chance to disconnect.

Top motivations for going solo:

• 55% want freedom to plan their own itinerary
• 52% see it as time to recharge
• 46% value exploring at their own pace
• 45% say it promotes self-discovery

Where are solo travellers headed?

Destination	% of respondents
Japan	25%
China	22%
Malaysia	22%

Almost all solo travellers (98%) plan ahead, prioritising accommodation, safety, and budget. And while value is key, the experience of exploring independently seems to be the real reward.

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ALSO READ: Travel Safety: Tips for Women, LGBTQ+, and Persons with Disabilities

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NTUC offers up to $120 in e-vouchers for lower-income union members

Lower-income union members in Singapore can now get a little extra help with daily expenses—up to $120 in e-vouchers—thanks to NTUC’s latest support initiative.

The 2025 NTUC Care (U Stretch) programme, worth $1.2 million, is aimed at helping working families manage cost-of-living pressures, especially for essentials like groceries, meals, and healthcare.

How the e-vouchers work:

• Disbursed in values of $1, $2, $5 and $10
• Redeemable at:
  • FairPrice supermarkets
  • Unity pharmacies
  • Kopitiam foodcourts
• Valid until 31 Dec 2025
• Distributed via RedeemSG digital voucher system

Who’s eligible:

• Must be an NTUC member for at least 6 months (with no unpaid dues)
• $60 in vouchers if living alone and earning ≤ $1,650/month
• $120 in vouchers for households earning ≤ $3,800/month or ≤ $950 per person

Applications open from 30 Jul (12pm) to 3 Sep 2025 (4pm).

For full details, head to ntuc.org.sg/ntuccareustretch.

 

MAS warns of slower growth ahead—retail and F&B could feel the pinch

Singapore’s economy may have had a surprisingly strong start to 2025, but the second half is expected to lose some steam.

In its latest quarterly review, the Monetary Authority of Singapore (MAS) flagged that global uncertainties—, like tariffs and slower external demand, could hit trade-related sectors and spill over into domestic-facing industries.

Key insights from MAS:

• Retail and F&B sectors saw flat or negative growth in H1 2025
• Front-loaded exports (e.g. electronics, mobile phones) boosted Q2 growth, but that boost may fade
• GDP growth for the rest of the year is expected to be subdued
• Consumer demand is weakening, keeping inflation modest
• Employment is expected to hold steady, but wage growth may cool

Several factors could weigh on the outlook in the coming months. Higher US tariffs on Singapore’s trading partners may indirectly hurt local exports, especially in intermediate goods. Businesses may also hold back on expansion or hiring, leading to slower recruitment and tighter wage increases. On the domestic front, structural challenges in the retail and F&B sectors like market saturation and changing consumer preferences continue to make growth difficult.

The silver lining? Household finances are still healthy, and sectors like finance could benefit from market recovery. Inflation is expected to stay low—hovering between 0.5% and 1.5%—through 2025.

 

MOM: Hiring picks up, but wage growth could slow as uncertainty looms

Singapore’s labour market held steady in the second quarter of 2025, with total employment rising by 8,400, driven by gains across both resident and non-resident workers. But the Ministry of Manpower (MOM) also warned that global economic headwinds may start to weigh on hiring and pay expectations.

Labour market snapshot:

• Total employment (excl. domestic workers): +8,400 in Q2
• Unemployment rates (June 2025):
  • Residents: 2.9%
  • Citizens: 3.0%
• Retrenchments: Stable at 3,500 (vs. 3,590 in Q1)

Hiring momentum was strongest in sectors like financial services and healthcare, while outward-oriented sectors—such as professional services and tech—continued to see softening.

Although the unemployment rate remained within a healthy range, employers are turning more cautious. Fewer firms expect to hire or raise wages in Q3 2025.

MOM says firms are encouraged to lean on government schemes like the Career Conversion Programmes and the new SkillsFuture Jobseeker Support, which offers up to $6,000 in short-term aid for those involuntarily unemployed.

The full Q2 labour market report is due in mid-September and will shed more light on evolving trends.

 

MAS holds steady on monetary policy after earlier easing moves

Singapore’s central bank has decided not to tweak monetary policy—for now.

On 30 Jul 2025, the Monetary Authority of Singapore (MAS) left its exchange rate-based settings unchanged, after easing twice earlier this year in January and April. That marked a shift after nearly 5 years of policy stability.

The decision reflects recent resilience in global growth and signs of recovery in manufacturing and trade, especially in areas like AI-related investments.

Key takeaways:

• MAS will maintain:
  • The slope, width, and centre of its Singapore dollar policy band
  • A neutral appreciation rate for the S$NEER (its main policy tool)
• Core inflation remained steady at 0.6% year-on-year in Q2
• Full-year inflation forecasts:
  • Core inflation: 0.5%–1.5%
  • Headline inflation: 0.5%–1.5%

MAS expects inflation to stay low in the short term, helped by falling producer prices, slower wage growth, and cheaper imports. But risks remain, from trade conflicts to surprise oil price jumps, which could swing inflation either way in 2026.

 

That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond. 

This article was first drafted with the help of AI and later reviewed and refined by the author.

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About the author

Vanessa Nah likes her finance articles the way she likes her sitcoms—light-hearted, entertaining, and leaving people knowing a little more about life. She believes money—like life—should be made simple. Outside of work, you’ll find Vanessa attending dance classes, fingerpicking a guitar, and fulfilling her life mission to make her one-eyed cat the most spoiled kitty in the world.