Forget cash. Visitors at the upcoming MSME Festival at BRIDEX can use their phones to make payments throughout the four-day trade fair.
Bank Islam Brunei Darussalam (BIBD) said that it wants to deploy its peer-to-peer mobile payment service QuickPay to its existing and new merchants that have signed up for the expo next week.
QuickPay lets customers scan QR Codes at retail counters to make cashless payments via their smartphones.
Recently BIBD held a briefing to promote QuickPay and other cashless payment solutions under its NEXGEN brand to interested vendors of the MSME Festival, in its bid to accelerate adoption of cashless transactions in the sultanate.
“QuickPay is a simpler and cost-effective solution for small businesses that could not afford expensive POS systems,” said Law Siew Vui of BIBD’s Merchant Services during the briefing held at the International Convention Centre on Tuesday.
The bank said it will waive off the processing fee for merchants using QuickPay during the four-day fair.
BIBD also invited the attendees to sign up for its new MSME Account, which carries an opening and minimum balance of $50. Account holders will be given a unique QuickPay QR Code to be displayed at their business establishments.
Over 200 local businesses are expected to feature their products and services at the MSME Festival from March 28 to 31.
Organised by Darussalam Enterprise (DARe), the MSME Festival will be the biggest showcase of local brands in the country, ranging from food and beverages to cosmetics to fashion.