Dili, Sept. 14, 2026 (Lusa) - The Central Bank of Timor-Leste announced on Monday the launch of two new payment methods, Ti-Fast and TuQR, to modernise the country's payment system.

«Ti-Fast is Timor-Leste's national instant payment system. It allows individuals and businesses to send and receive money in real time, 24 hours a day, seven days a week,» according to information posted on social media.

This payment method was created to provide fast, secure and reliable payment services.

«The Timor Unified Quik Response (TuQR) is Timor-Leste's national standard for QR code payments. Customers can use participating mobile banking apps or digital wallets to scan a TuQR code and make payments for goods and services,» the BCTL emphasises.

TuQR will be implemented in phases, taking into account levels of digital literacy and access to telecommunications networks and the internet.

The Timorese central bank also intends to develop cross-border interoperability between TuQR and the payment systems of the Association of Southeast Asian Nations (ASEAN) countries.

«Ti-Fast and TuQR will make payments faster, simpler and more convenient for individuals, businesses and merchants. These systems will also help to reduce the use of cash, encourage digital payments and promote financial inclusion,» added the BCTL.

MSE/ADB // ADB.

Lusa