Laos, China launch cross-border payment service

03/07/2024 10:38

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ຂປລ (KPL) Laos and China have launched a cross-border payment service "UnionPay QR payment service" that uses mobile app - BCEL One.

(KPL) Laos and China have launched a cross-border payment service "UnionPay QR payment service" that uses mobile app - BCEL One.

“The service aims to create convenience for Lao customers facilitating their payment for purchased goods and services in China using UnionPay's QR,” said Deputy Director, Banque Pour Le Commerce Exterieur Lao Public (BCEL) Mr. Nantharath Keopasert. "The app gives a new experience to Lao people who are living abroad or travelling overseas, especially to China and other 46 countries around the world as they can use it to pay for goods and services through UnionPay QR, avoiding using cash and reducing the difficulty in changing money."

Currently, the Lao government is promoting digitalisation, innovation, and the use of modern technology in the banking sector to ensure its integration into regional and international banking networks.

KPL

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