Lao banks partner in integrated payment system
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL), the country’s central bank, officially launched the new joint venture Lao National Payment Network Co Ltd (LAPNet) in collaboration with seven major banks.
The company aims to create a more efficient system of payments and will enable an integrated and convenient method of electronic payment through the country’s banks.
The BOL and the seven major banks have invested in LAPNet with the aim of rolling out a faster, reliable and more convenient payment system.
The participating banks are Banque pour le Commerce Exterieur Lao Public (BCEL), Lao Development Bank (LDB), Agricultural Promotion BANK (APB), Lao-Viet Joint Venture Bank, Joint Development Bank (JDB), ST Bank, and BIC Bank (Lao) Co Ltd.
News Desk
