Universiti Brunei Darussalam (UBD) is rolling out mobile payment solutions at campus grounds, making it the first university in Brunei to go cashless.
Through its partnership with Progresif Celullar, the varsity has begun accepting cashless payments from its students via the telco’s mobile wallet, Progresif PAY.
With Progresif PAY, students can buy lunch from the cafeteria or pay libary fees using their smartphone. The mobile wallet also allows students to keep track of their spending and better manage their finances.
For businesses based at the university, the system will help them track payments, monitor their inventory and perform settlements at the end of the day.
Vendors will also benefit from increased security and reduced costs and inconvenience as they no longer need to keep large sums of cash on site or produce change for payment transactions.
The mobile wallet is co-developed with BIBD and is open to all users regardless of phone number. The app has garnered over 15,000 downloads since its launch in May last year, with users across both the DST & Progresif networks.
Through this collaboration with Progresif, the university has laid the groundwork for further research and development in financial technology (fintech) solutions that would contribute to Brunei’s economic development and promote a cashless society.
Progresif Chief Marketing Officer Devin Edwards said the collaboration reinforces the telco’s commitment to innovation and its ongoing support for Brunei’s educational institutions.
“We have a robust roadmap for development of new services and features within the application and look forward to working with more institutions in the future and even more great collaboration in the areas of fintech and education,” said Edwards.
Meanwhile, BIBD Managing Director and CEO Mubashar Khokhar said that the project helps fulfill the bank’s “branchless banking” vision for Brunei.
“This collaborative effort delivers on our commitment as Brunei’s economic partner of growth, and to empower other technologies with banking and payment capabilities for better financial inclusion,” he added.