Laos, Thailand launch cross-border QR payment
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 benefit
of their people.
Addressing the launching event, Governor of the Bank of Laos Bounleua
Sinxayvoravong said the implementation of cross-border QR payment is an
important step in the development of Lao financial industry because Thailand is
the country’s No 1 trading partner.
It not only
facilitates cross-border financial transactions, especially by micro, small and
medium enterprises (MSMEs) and consumers, in a safe, effective and cost-attractive
manner, but also helps labourers working in the two countries easily transfer
money back home, and promote cashless payment in society and trade between the
two countries, he continued.
Besides Thailand, Laos also has cross-border QR code payment cooperation with Cambodia./.