Brunei Darussalam’s aspiration to become a Smart Nation is possible with the adoption of digital payment to drive economic activities.
To boost the agenda, the Authority for Info-communications Technology Industry of Brunei Darussalam (AITI) and Beep Digital Solutions Sdn Bhd yesterday signed a Memorandum of Understanding (MoU) to develop and implement a Cashless Society Pilot Programme.
With the goal of creating a safe and connected society beyond cash across the nation, the MoU is in line with AITI’s strategic objective to facilitate digital industry development and innovation.
Signing on behalf of AITI was Acting Chief Executive Ir Haji Jailani bin Haji Buntar, with Deputy Chief Executive (Development) Julianah binti Haji Ali Ahmad as witness. Beep Digital Solutions was represented by Director Haji Malai Faizulrizal bin Haji Malai Ali, witnessed by Director Dzaidenny Muslim.
The pilot programme will be rolled out in the next six months with the provision of training and incentives to three targetted markets – paid parking lots, laundromats and convenience stores – allowing them to adopt a digital payment system for cashless transactions in their premises.
Innovation in digital payments has grown as the use of contactless credit cards, digital wallets, wearable technology and biometric authentication is becoming more embedded in our daily lives.
According to the e-Commerce Survey for Consumers in Brunei Darussalam conducted by AITI in 2018, a majority of e-commerce users (84 per cent) preferred using credit or debit card to pay for online purchases. Some preferred the use of online bank transfers and e-wallets, while 19 per cent of the respondents favoured offline payment or cash on delivery.
It is hoped that with increased accessibility to cashless payments in selected merchants through the programme, more consumers would adopt the use of digital payment in both physical stores and in e-commerce transactions.