In a move to further support local small and medium enterprises (SMEs) with their entrepreneurial endeavours, Baiduri Bank officially launched its latest service, the Merchant Suite, yesterday.

Officiating the launch at a ceremony held at the Radisson Hotel was Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, Minister of Energy and Industry at the Prime Minister's Office.

In his welcoming remarks, Pierre Imhof, CEO of Baiduri Bank, noted that the bank's strategy is to always partner with the best, most reputable names in the world to ensure they design and distribute the best products available in the market and the most suitable for the local Brunei environment.

Under the care of the Business Banking Unit, the Merchant Suite is a suite of solutions to enable SMEs to elevate their businesses by providing an affordable online platform to conveniently issue invoices and accept card payments where it complements an SME's social media presence.

The service does not require the setup of a website, which may be costly for entrepreneurs starting a business.

Aariz Patrick Ng, Head of Branch Network-Sales Management and Business Banking of Baiduri Bank, noted that Merchant Suite is user-friendly and convenient and it will greatly benefit SMEs who are seeking to expand their business by offering card payment options for their customers.

"The service will be able to accept payment from any credit or debit card bearing the Visa, MasterCard, American Express logo."

In addition to allowing users to accept card payments securely, which is in line with Baiduri Bank's commitment to providing the highest industry standard in data security, Merchant Suite complies with the globally recognised PCI-DSS.

PCI-DSS requires stringent security standards during processing and transmission of cardholder data, thereby assuring the users of better protection from credit card data leak.

To register for Merchant Suite, customers will need to set up and maintain a company account in Baiduri Bank and once set up, a simple online registration is required, with four tier options available.

The available tiers are Bronze (US$60 per year), Silver (US$120 per year), Gold (US$500 per year), and Platinum (US$1000 per year) while those who would like to register for a trial account may simply do so for free.

A waiver on the annual fee of US$120 per year will be given as an added incentive to the first 180 customers who successfully signed up for the Silver package.

Yesterday's launching event continued with a tour of the showcase of products and services offered by the Business Banking Unit, Baiduri Bank by the guest of honour and other guests present who comprise mainly of SMEs.

The Business Banking Unit under Retail Banking also provides other services besides Merchant Suite such as support and services to SMEs, such as the Baiduri Internet Gateway System as well as the Business i-Banking to assist businesses in paperless transactions and assist them in SME credit facilities where eligible.

For more information on Merchant Suite, the public can contact Baiduri Bank or log on to their website or find Baiduri Bank on Facebook, Instagram or Twitter.

Source:
@BRUDIRECT.COM

by BruDirect.com

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