We are heading towards a cashless society. It takes two to tango though – the consumers and also the merchants (retailers). It was easier to adopt when a bank introduces newer convenient services then such as ATMs, followed by online banking and transferring money through your mobile phones to another account. Now BIBD has provided a better platform where you can pay your services and goods through your mobile on selected merchants. This basically mean you don’t have to use physical money to pay over the counter. All you need is just your smartphone and waalaaa, you don’t need your change back physically and plus you will look cooler just by paying your items using your phone.
Yesterday BIBD emphasized how branchless banking have made it so convenient for their customers as it allows everyone and anyone to have access to financial services and they don’t even have to physically drop by a bank to do so. I was quite surprised that BIBD NEXGEN Wallet has generated more than 14 million worth of transactions in 2018 alone. That’s pretty high for such a small country like Brunei Darussalam. This really shows how technology has made it easier for the flow of money from one account to another account at your finger tips. Actually I am a high user of BIBD NEXGEN Wallet as I have received and send payments through the BIBD mobile app.
The next step now is to actually capitalized on the latest featured made possible by BIBD and Progresif and that is making payments to the merchants using your phone through BIBD’s QuickPay and Progresif’s Progresif Pay.
Present during the demonstration and press conference were Dr Gyorgy Ladics, BIBD Chief Operating Officer , Hajah Nurul Akmar binti Haji Mohd Jaafar, BIBD Head of Retail Banking and Radi El-Fassed, Progresif’s Head of Product Development.
In the press release, Mubashar Khokhar, BIBD’s Managing Director and CEO, said that whilst BIBD have placed efforts into encouraging the adoption of a digital Bruneian economy via our own technologies that resulted in over 140,000 BIBD NEXGEN banking users, they remain cognisant we need to go further and evolve if we were to create more impact for a truly digital economy.
With mobile penetration, it will create even a bigger digitized financial ecosystem and it will help spur the economy due to the convenience. This will also be a win-win situation for both consumers and even the merchants because of the lowered set-up costs and the barrier to entry (in business) is low too.
So far, they are 100ish merchants that have used QuickPay and one of the leading merchants is Fuel’d, a popular healthy food joint in Kiulap. As more people getting the hang of using digital payments through mobile phones, future merchants/retailers will see the surging demand of cashless payments through means of paying through your mobile phones.
Progresif’s latest product Progresif Pay have entered the market and now they have even bettered their mobile app. You don’t have to be a Progresif subscriber to make use of Progresif Pay (Awww, nice of you) and you can switch numbers through the App as well at your convenience. I am happy for the fact that you’re able to buy iTunes credit through their e-credit tab on the Progresif Pay. Now that’s very convenient.
If you really want to know more about BIBD’s QuickPay and Progresif’s Progresif Pay, head over to MSME Festival to be held at the BRIDEX International Conference Centre 28th to 31st March and you will see some vendors (especially the ice-cream vendors) making use of these said services. You will see how convenient it is to make payments and furthermore, it is secured.
What I am more excited is that you can even pay through means of NFC where you simply tap on your smartphone on the merchant payment terminal and your transaction will be completed, just like that. Easy, huh? I know Brunei is currently behind when it comes to NFC or payments through mobile phones but the momentum is slowly growing and kudos to the first 100 merchants in believing the power of cashless transactions.
We are definitely heading on the right direction and thank you to BIBD and Progresif on making this service available in the Brunei market.
Baiduri Bank hosted the prize presentation ceremony for the “Shop & Win Lucky Draw Bonanza” promotion in collaboration with Hua Ho Department Store. The event was held at Hua Ho Manggis recently.
During the promotion period held from 14 December 2018 to 14 February 2019, with every BND100 spent and paid using a Baiduri Bank issued credit or debit card in participating Hua Ho outlets, customers receive one chance to enter the draw and win shopping vouchers.
25 customers were shortlisted and after a final draw. Additionally, the remaining 10 winners received consolation prize of a Tefal Infiny Press Juicer each.
Presenting the prizes on behalf of Baiduri Bank was Pg Azaleen Pg Dato Hj Mustapha, the Head of Retail Banking and Branch Network and on behalf of Hua Ho Department Store, was Mr Lau Soon Tiong, Manager of Hua Ho Department Store.
To be in the know of Baiduri Bank current promotions and events, the public can visit Baiduri Bank website at www.baiduri.com under the Promotions section, or on the Baiduri Bank mobile app – Baiduri Deals, like the official Baiduri Bank Group Facebook page or follow @baiduribank on Instagram and Twitter.
Hjh Siti Raihani Haji Abdul Hamid, one of the consolation winners.
Both winners Mohammad Hasnal and Izzati bin Mohammad Masli were full of emotions after their names were drawn to win the BND 25,000 cash prize (quarterly) as part of BIBD’s Aspirasi campaign earlier this afternoon at BIBD Kiulap.
It has happened again. The second batch of the quarterly winners have been feted. Mohammad Hasnal and Izzati bin Mohammad Masli both won the BND 25,000 each as part of the BIBD’s Aspirasi campaign earlier this afternoon.
BANK Islam Brunei Darussalam (BIBD) recently drew out two quarterly and 10 monthly winners for its BIBD Aspirasi reward programme a few days ago and only today, the draw was conducted by Dr. Awang Abdul Nasir bin Hj Abdul Rani, a member of the Shariah Advisory Body at BIBD.
The idea of BIBD Aspirasi is to make people be aware the importance of savings and also to inculcate the savings culture within them and at the same time, supporting the customers to reach their financial goals and even preparing for the unexpected.
The prizes were handed by the guest of honor, Yang Mulia Hjh Noraini binti Haji Sulaiman, Deputy Managing Director of BIBD.
I hope one day I will get shortlisted as I’m also a BIBD Aspirasi customer. Oh yeah, the grand draw will be a whooping, life changing figure of BND 250,000 for the grand prize winner.
It’s easier to sign up for BIBD Aspirasi too. Good luck for the next round of winners.
Izzati plans to bring her mom for Umrah with the prize money. Alhamdullillah.
Hasnal has the intention for Haj pilgrimage and his wishes came true.
As part of BIBD’s efforts to support the de-cashing of the economy (meaning less reliance on real cash in hand), BIBD has already introduced digital conveniences such as BIBD Quickypay for QR code payments (introduced a few months ago), BIBD vCard or Virtual MasterCard, its MasterCard Contactless and Visa payWave under its BIBD NEXGEN platform.
There is still room for growth in this department and BIBD will soon up their game by using NFC (Near Field Communication) where all you need is tapping your smartphone only. This is quite common in the US and UK and even in China. This is where BIBD will come in as a pioneer by introducing BIBD NEXGEN Wallet.
This will be made possible once their next BIBD app version will be available in January 2019. It will be synced from the user’s debit or virtual cards to the NEXGEN Wallet which means you don’t have to fork out your debit cards and simply tap your smartphone on the payment terminal.
Hjh Nurul Akmar Hj Md Jaafar, Head of Retail Banking, BIBD, said that all the customers have to do is place or tap your smartphone on the terminal and it will automatically open the BIBD app and it will prompt you for a pin number. After being verified, the transaction will be complete. The cool thing about the BIBD NEXGEN Wallet is that it can function without internet, for purchases up to BND 100.
This is something many will be looking forward to and furthermore, BIBD is well prepared as most of their existing merchants have card terminals which are able to receive NFC payment. Awesome!! The only thing is that the NFC service will only be available for Android users. As for IOS users (Apple), BIBD will be in talks with Apple in hoping that NFC can be readied for BIBD users on IOS.
This is the way of the future indeed and I hope the traction will be higher once NFC become available in Brunei and thank you to BIBD for pioneering this technological move.