Seven major banks in Laos signed a memorandum of understanding on April 22 to establish the Lao National Payment Network (LAPNet) company for a faster, reliable and more convenient payment system.Read more
The Chinese government has agreed to provide a grant of 56 million yuan (more than 70 billion kip) to the Lao government to improve the Lao ATM Pool Switch (LAPS) project.
The pool system will effectively create a centralised ATM network, cutting unnecessary costs and saving time for customers as they will no longer have to seek out the ATM of a particular bank.
The system will also ….
Recent years have seen ATMs cropping up all over Laos as more and more commercial banks jump on the bandwagon. ATMs in Laos generally feature fairly straightforward interface systems and offer English as well as Lao and sometimes even Chinese. Cash withdrawals can be made only in kip in denominations between 10,000 and 50,000.Read more