Cash is king in Laos, but the crown might soon be toppled as OnePay sparks a revolution.
Walking the streets of Laos with a pocket full of cash can be cumbersome at best, and we’ve all experienced that moment of dismay when the ATM dispenses a massive stack of 20,000 kip notes! Well, that feeling could well be a thing of the past now that OnePay has arrived, and it’s kicking cash to the curb!
Banque Pour Le Commerce Exterieur Lao Public (BCEL) already revolutionized banking in Laos by launching its life-changing BCEL One mobile app, which allows customers to transfer funds between accounts, pay utility and phone bills, pay taxes, and more, right from their own mobile phone.
Now, the bank has done it again with the launch of OnePay, an application allowing users to pay anyone, anywhere, directly from their account by simply photographing a QR code. The cost of goods and services is then deducted directly from the user’s account, and deposited in the vendor’s account, eliminating the need for cash altogether. The system its fast and convenient, and best of all means your wallet will be a lot lighter.
Try it out – go bananas!