Local fintech company BruPay has waived all fees across its eWallets indefinitely during the ongoing COVID-19 pandemic.
The withdrawal fee (1.5%) and merchant-to-merchant transaction fee ($0.25 or 0.25%, whichever is higher) have been removed from the platform in a bid to assist local businesses accept contactless payments for takeaways and deliveries.
“MSMEs (micro, small and medium enterprises) don’t have the luxury of having a credit card machine or means to collect payment online, other than bank transfers,” said BruPay CEO, Hj Sophian Dato Seri Setia Dr Hj Mat Suny.
“We at BruPay want to do our part for the local business community by enabling them to receive contactless payments at no extra cost.”
Retailers have been more conscious of handling cash due to risk of COVID-19 transmission, and the BruPay CEO stated the decision to waive the charges was made primarily to encourage people to adopt a more hygienic means of making and accepting payment.
“Rather than touching cash notes which may be a vehicle for the coronavirus, anyone can send and receive payments from the comfort of their home during self-isolation. This will lessen the risk of contact with the virus,” he said.
“The situation at hand is difficult for most of us and we wish to offer our empathy, support and well wishes to all those affected by the virus during this time. “
BruPay is a Bruneian registered FinTech company that was established in 2017 and specialises in developing cashless payment systems. BruPay’s headquarters is located in Kiulap, Brunei Darussalam.
BruPay was accepted as a participant of Autoriti Monetari Brunei Darussalam’s (AMBD) FinTech regulatory sandbox on August 24, 2018.