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BAIDURI BANK, THE FIRST BANK IN BRUNEI, TO LAUNCH VISA PAYWAVE
12th August 2014

Bandar Seri Begawan, 12 August 2014 – Renowned for its strength, commitment and innovation in the Brunei market, Baiduri Bank has garnered many firsts to its name.

Today Baiduri Bank, once again, reaffirms this status by launching the very first Visa payWave™ debit card in Brunei Darussalam.

The Baiduri Visa payWave™ debit card is a safe and faster, simpler and convenient way to pay for everyday purchases using contactless technology. It uses an embedded EMV chip and radio frequency antenna to transmit payment details wirelessly to a Visa payWave™ enabled card terminal, which makes paying for small purchases faster.

Purchases of B$100 or less requires no PIN (personal identification number) or signature on the receipt. Cardholders just tap their Baiduri Visa payWave™ debit card on the screen of the payment terminal and go. However, purchases above B$100 can be paid using the traditional way of swiping or inserting card to the card terminal.

Baiduri Visa payWave™ debit card is accepted at merchants that display the Visa payWave™ logo. Popular spots like Starbucks, SupaSave, Hua Ho and Gong Cha are among the list of participating merchants in Brunei Darussalam that accept this new card.

Mr. Pierre Imhof, CEO of Baiduri Bank said, "We are pleased to be the first in Brunei to introduce this new payment technology to revolutionize the payment habits of our cardholders in Brunei for their day-to-day expenses. Payments up to B$100 will become so simple and fast."

“Currently, there are over 25 merchant outlets that accept the Visa payWave™ feature in Brunei Darussalam. But the list is growing rapidly due to high demand from our merchants who see many benefits of introducing such payment feature in their business,” said Ms. Ai Cheng Lee, Senior Manager, Merchant Services & Corporate Cards of Baiduri Bank.

Ooi Huey Tyng, Visa Country Manager, Singapore and Brunei said, "We congratulate Baiduri Bank on becoming the first issuer of a Visa payWave™ card in Brunei. Consumers around the world are embracing the speed and convenience of contactless payments and we are proud to be able to work with Baiduri Bank to bring the benefits of Visa payWave technology to the people of Brunei."

The Baiduri Visa payWave™ debit card can be applied at any of the Baiduri Bank branches. There is a choice of having a Baiduri Visa payWave™ debit card with bonus point accrual or without bonus point accrual. For bonus point accrual, the annual fee is B$19 per annum while for non-bonus point accrual, the annual fee is B$9 per annum.

In line with the launch, Baiduri Bank is offering a one year annual fee waiver with bonus point accrual for successful Baiduri Visa payWave™ debit card sign-ups. Plus, the first 100 Baiduri Visa payWave™ debit cardholders who spends B$50 within the first month after sign-up will receive two complimentary movie tickets to watch at selected cinemas. Promotion is valid until 30 September 2014.

"We are also working with a number of popular dining outlets, cafes, supermarkets and cinemas to offer value-added benefits exclusively for Baiduri Visa payWave™ debit cardholders," said Ms. Ai Cheng Lee. "Baiduri Visa payWave™ debit cardholders can look forward to more exciting promotions in the coming months," she added.

In addition to the added speed and convenience, Visa payWave transactions are as secure as any other Visa chip card transactions and carry the same multiple layers of security.

More information about Baiduri Visa payWave™ debit card can be obtained on www.baiduri.com or by calling Baiduri Bank Call Centre at 244 9666.

For more information on Baiduri Visa payWave™ debit card, please click here

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