Our new ePG payment system, designed and developed by CAS, has been deployed in Brunei to act as a central payment hub facilitating a single integration point, switching and reconciliation platform for government departments, banks and third party channel provides.
It accepts transactions (financial and non-financial) from any channel and for any instrument (cash, cheque, TT, electronic, other) and provides switching to the relevant party (e.g bank) with automatic reconciliation that takes into account specific business rules relating to clearing and settlement practices for each instrument. Further, it provides an audit mechanism to check and reconcile payments between the collector and the funds deposited into the bank to ensure that discrepancies are picked up promptly and the required action taken.
In the Ministry of Finance’s case, the system keeps a record and manages product and revenue codes associated with each payment for automatic updating of their accounting system and posting to the general ledger.
Presently in Brunei, we have four banks connected to the system (two local banks and two international banks) and numerous government departments including the electrical, treasury, water, transport as well as the
Brunei post office.