tarus to enable instant payments using just your phone number The long-awaited digital payment hub will facilitate instant transfers and payments between different banks and apps

BANDAR SERI BEGAWAN – Brunei is rolling out its first instant payment system, tarus, which allows users to transfer funds instantly via their phone number.

Launched by the National Digital Payments Network Sdn Bhd (ndpx), tarus serves as the back-end infrastructure that facilitates instant money transfers between different banks and e-wallets.

Currently, most users in Brunei transfer money within the same bank or e-wallet. While interbank transfers are possible, they primarily rely on systems like the Real-Time Gross Settlement (RTGS) System, which is designed for large-value payments.

In contrast, tarus was designed for everyday transactions, making it easier for users to pay bills, make purchases, and send money within Brunei, ndpx said in a press release.

When tarus launches, it won’t appear as an app for download. Instead, existing mobile banking and e-wallet apps will integrate the tarus into their systems, allowing users to make cross-platform transfers.

Users can link their bank accounts or e-wallets to their phone numbers and transfer money instantly through the current participating platforms:

• BEEP Solutions (via Beep Solutions)
• BIBD At-Tamwil (via Olive app)
• Datastream Digital (via MyDST app)
• Perbadanan Tabung Amanah Islam Brunei (via TAIBVX app)
• Progresif (via Ding! app)

In the next phase, Baiduri Bank, Bank Islam Brunei Darussalam, and payment system operator ThreeG Media (which runs the Pocket app) are expected to join the tarus network.

ndpx is also exploring partnerships with regional payment providers to facilitate cross-border transactions, which would allow Bruneians to make and receive payments in neighboring countries using their existing banking apps.

More features will be introduced in the next phase, including tarusQR, the national QR code standard.

It will enable QR-based transactions across different banks and e-wallets, allowing businesses to display a single, interoperable QR code for customers to make payments.

Another feature that will be rolled out is a “request-to-pay” function for users to initiate payment requests directly to others.

Established in 2022, ndpx is a joint venture between Darussalam Assets, Baiduri Bank Berhad, Bank Islam Brunei Darussalam Berhad, and Perbadanan Tabung Amanah Islam Brunei. It is an approved payment system operator by the Brunei Darussalam Central Bank.