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2019 Press Releases
DST In Collaboration With Baiduri Bank Signs MOU To Launch E-Wallet
12 November 2019

Joint Press Release by Baiduri Bank and DST

 

Bandar Seri Begawan, 12 November 2019 DST, Brunei’s largest telecommunications provider and Baiduri Bank, Brunei’s largest conventional Bank, today signed a Memorandum of Understanding (MOU) to partner to launch a brand-new e-wallet nationwide. The signing event was held at the DST Headquarters at Tungku Link.

The partnership will allow Baiduri Bank, the country’s largest issuer of payment cards with the largest merchant base in Brunei and DST, a telecommunications provider with the country’s largest mobile subscribers base, to share resources and create the largest digital payment ecosystem in Brunei with connectivity to regional and international payment platforms. This means that DST mobile phone users who subscribe to the e-wallet will in the future be able to pay for goods and services using the digital payment feature on their phones both locally and internationally.

Signing on behalf of DST was Radin Sufri Radin Basiuni, Acting Chief Executive Officer of DST and on behalf of Baiduri Bank was Mr Ti Eng Hui, Chief Executive Officer of the Bank.

Subject to approvals from all the relevant authorities, the e-wallet is set to be launched in the second quarter of next year. It uses Near Field Communications (NFC) technology that will allow users to pay at card terminals by simply ‘tapping’ their phones, as well as through scanning a QR code. Once launched, it will be available to all new and existing DST subscribers and accepted nationwide at over 2000 Baiduri Bank merchant outlets. The e-wallet can also be linked to a regional payment platform, so that customers can also use the e-wallet overseas.

Radin Sufri said: “We hope this will become a game changer for both DST and Baiduri in enabling our generation for the Smart Nation. With our vast reach of serving the Brunei’s population, we want our customers to be able to enjoy the ease and familiarity of using their mobile wallets within both DST’s and Baiduri’s wide reach of merchants. We look into enhancing the payment experience for our customers collectively and see a tremendous opportunity to drive the adoption of mobile payments supporting The Nation’s Vision 2035’s push towards a dynamic and sustainable economy”, said Radin Sufri, Acting CEO of DST.


“This also matched DST’s larger road map to evolve from a telecommunications company into a provider of integrated and mobile services. DST decided to take the role in mobile payment with tremendous support from Baiduri. Using our phones to “shop and go” without having to reach a physical wallet, customers are on the verge of a seamless era. Our goal is to create an intelligent ecosystem for mobile payment and commerce alongside our partners, customers and users.”

Meanwhile, Mr Ti said, “We are pleased that DST has chosen Baiduri Bank to work on this very important project. Through synergies from two successful Bruneian companies, more opportunities are created for greater commercial efficiency and improved consumer experience, thus contributing to the enhancement of the payment eco-system in this country.”

The collaboration further strengthens the relationship between the Brunei’s leading mobile operator and Brunei’s best retail bank in identifying potential payment solutions that will benefit both consumers and merchants, offering greater freedom and flexibility.

Also present at the event was Pg Azaleen Pg Dato Hj Mustapha, Deputy CEO of Baiduri Bank and the management teams of both DST and Baiduri Bank to witness the MoU signing.

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