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Laos, Thailand launch cross-border QR payment

Laos and Thailand launched cross-border QR payment linkage on April 3, aiming to promote innovation and access to financial services for the benefit of their people.
Laos, Thailand launch cross-border QR payment ảnh 1Laos and Thailand launch the cross-border QR payment linkage at a ceremony held in northern Laos' Luang Prabang province on April 3 (Photo: VNA)  

Vientiane (VNA) –Laos and Thailand launched cross-border QR payment linkage on April 3,aiming to promote innovation and access to financial services for the benefitof their people.

Addressing the launching event, Governor of the Bank of Laos BounleuaSinxayvoravong said the implementation of cross-border QR payment is animportant step in the development of Lao financial industry because Thailand isthe country’s No 1 trading partner.

It not onlyfacilitates cross-border financial transactions, especially by micro, small andmedium enterprises (MSMEs) and consumers, in a safe, effective and cost-attractivemanner, but also helps labourers working in the two countries easily transfermoney back home, and promote cashless payment in society and trade between thetwo countries, he continued.

Besides Thailand, Laos also has cross-border QR code payment cooperation with Cambodia./.

VNA
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