Thai tourists or businessmen planning a trip to Laos have a new convenience at their fingertips: the ability to scan QR codes to pay for goods and services, thanks to a recently launched cross-border payment system between the two countries.
New Payment System for Thai Tourists and businessmen
Announced on 5 July, this new service is a game-changer for Thai travelers. Users of the Thai Bank of Ayudhya, also known as Krungsri, can now make payments in Laos using the KMA Krungsri app, making it the first Thai commercial bank to offer this convenience.
Participating Banks in Laos
In Laos, this seamless payment option is available through 17 participating banks, including:
- Banque Pour Le Commerce Exterieur Lao Public (BCEL)
- Agricultural Promotion Bank (APB)
- Joint Development Bank (JDB)
- Lao Development Bank (LDB)
- Lao Viet Bank (LVB)
- ST Bank (STB)
- Allied Bank (ABL)
These banks are part of the Lao National Payment Network, which ensures that tourists can use QR payments widely across the country.
Benefits for Thai Tourists
For Thai tourists, this service simplifies transactions, eliminating the need for cash or currency exchange. You can pay for meals, shopping, accommodations, and other services simply by scanning a QR code with your phone. This not only makes travel more convenient but also enhances financial security by reducing the need to carry large amounts of cash.
Expansion Plans for More Convenience
While Krungsri Bank is currently the only Thai bank offering this service in Laos, the Bank of Thailand has announced plans to expand the service to include Kasikorn Bank (KBank), Bangkok Bank (BBL), and Krungthai Bank (KTB) by the fourth quarter of this year. This means that even more Thai tourists will be able to benefit from this convenient payment method soon.
Enhanced Travel Experience
This new payment system is part of a broader agreement aimed at improving financial services between Thailand and Laos. Since April, Lao tourists and workers in Thailand have also been able to make QR payments through participating banks, with transactions totaling over THB 47 million (USD 1.2 million) in April alone.
Future Cross-Border Payment Plans
The QR code payment system is just one part of Laos’ strategy to improve regional money transfers and payments with neighboring countries. Laos launched a similar network with Cambodia in August 2023 and plans to introduce another service with Vietnam in the near future, further enhancing the travel experience for visitors from these countries.
With these advancements, Thai tourists can look forward to a more seamless, secure, and enjoyable travel experience in Laos, thanks to the ease and convenience of QR code payments.
For more information on participating banks and how to use the QR payment system, Thai tourists can contact their bank or visit the official website of the Lao National Payment Network. Safe travels and happy spending!
