National Digital Payments Network Sdn Bhd (ndpx), an approved payment system operator by Brunei Darussalam Central Bank (BDCB), announced the public release of ‘tarus’, Brunei’s first instant payment system.
Aligned with Brunei Vision 2035, Digital Economy Masterplan 2025 and BDCB’s Digital Payment Roadmap 2019-2025, tarus empowers individuals by enabling instant fund transfers, 24/7, using simple identifiers like phone numbers.
Beyond speed, tarus prioritises the highest standards of confidentiality, integrity, and availability.
WHAT IS TARUS?
tarus is a national instant payment system. It operates as a back-end infrastructure that enables instant fund transfers between participating banks and e-wallets.
Currently, most users in the country transfer money within the same bank or e-wallet.
While interbank transfers are possible, they primarily rely on systems like the Real-Time Gross Settlement (RTGS) System, which is designed for large-value payments.
tarus, however, is designed for everyday transactions, enabling seamless, secure and instantaneous fund transfers – enhancing convenience and financial connectivity across the nation.
HOW CAN TARUS BE USED?
This initial phase of tarus introduces instant fund transfers using phone numbers. Users can link their bank accounts or e-wallets to their phone numbers and send or receive money with just a few taps through the following platforms:
– BEEP Solutions Sdn Bhd (via Beep Solutions);
– BIBD At-Tamwil Sdn Bhd (via Olive);
– Datastream Digital Sdn Bhd (via MyDST);
– Perbadanan Tabung Amanah Islam Brunei (via TAIBVX);
– and Progresif Sdn Bhd (via Ding!)
With greater access to funds and smoother money movement, users can better utilise value-added services from these platforms such as paying bills, making purchases, or sending money to family and friends within Brunei Darussalam.
WHAT CAN WE EXPECT NEXT FOR TARUS?
The tarus network is set to expand further, with more participants joining in the next phase.
Notably, Baiduri Bank Sdn Bhd (Baiduri), Bank Islam Brunei Darussalam Berhad (BIBD), and ThreeG Media Sdn Bhd (via Pocket) are the expected participants, strengthening the network’s reach and impact.
Additionally, ndpx is exploring partnerships with regional payment providers to enable seamless cross-border transactions, allowing Brunei consumers to pay in neighbouring countries and vice versa using their existing banking apps and e-wallets.
Further features will be introduced in subsequent phases, such as tarusQR, the National QR Code Standard for Payments, to enable interoperability of QR payments between participating banks and e-wallets, request-to-pay to enable payees to initiate payment requests directly to payers and others.
In its pursuit of advancing digital payments in Brunei Darussalam, ndpx welcomes more participants to the tarus network. To learn more, visit tarus.com.bn.
