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.
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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 ….
