The first of its kind online currency booking platform, BruXchange Money Changer launched yesterday, enabling customers to check live exchange rates and reserve currencies online for pickup.
Customers can complete a currency order in three easy steps – register for an account on www.bruxchangemc.com then select a currency and amount to exchange; pay online with BruPay; and then collect their order within seven days from the BruXchange Money Changer counter located in Setia Kenangan 2, Kiulap.
Details of the latest and innovative solution toward hassle-free foreign currency exchange was revealed by Director of BruXchange Money Changer Haji Sophian bin Dato Seri Setia Dr Haji Mat Suny in a press conference.
Haji Sophian expressed his delight on the launching of the platform as it marks another milestone towards a digital economy.
“We are always looking to create and deliver innovative products which can increase the quality and accessibility of existing services, in line with the government’s Digital Economy Masterplan 2025 and its ambition to become a Smart Nation,” he said.
“We are aware of the impact COVID-19 has had on the travel industry. This project started before the pandemic and the launch is simply to announce that the technology is here and available.
“We were already talking about the technology last year when we received the Money Changer licence from Autoriti Monetari Brunei Darussalam (AMBD). We wanted to combine the technology of BruPay and BruXchange Money Changer for customers’ convenience in addressing the difficulties of looking for foreign currencies,” he added.
Before COVID-19, those looking to travel, for instance to neighbouring Malaysia, would need cash in hand to pay expenses such as toll fees. They would have to go to a money changer “but there is no guarantee that they would have stock, especially when there is a high demand or shortage”, Haji Sophian said.
“Instead of calling or going to a money changer, the public can go to the BruXchange Money Changer website and make a reservation for the currency. You can pay using BruPay and collect after office hours without the stress of wondering whether you will receive the currency or not. We will also give customers a one-week window for collection.”
However, he said the collection time for now is during office hours but “once things have returned to normal (post-COVID-19), we will start looking at extended hours for people to collect”.
BruXchange Money Changer deals with major currencies such as Pound Sterling, US Dollar, Euro, Malaysian Ringgit, Peso, Thai Baht and many more.
“The currencies available are basically those of the destinations that RB flies to. There are 18 currencies as well as a currency converter so users can calculate the amount that they intended to exchange with no obligation to place an order,” the BruXchange Director said.
Haji Sophian, who is also BruPay Chief Executive Officer, revealed that there are currently more than 5,000 Brupay users with some 50 BruPay merchants in the country.