The u-money service from Star Fintech is able to provide payment and funds transfer services and can be used for payment of wages and salaries for businesses and public sector organizations.
The service has received interest from government authorities at the village and district level for ease of salary payment.
Unitel branches, which act as agents of u-money, have signed agreements with district government offices to pay salaries to local staff at the village level via u-money, replacing cash payments for employees of remote villages that are difficult to access. In this way, payments via u-money have made salary payments faster and more convenient, saving both time and money.
A number of districts are now trialing salary payments via the u-money service, including Merng District, Chomphet District, and Pak Ou District in Luang Prabang Province.
Certain state enterprises have also begun to make the switch to u-money, including Dao Drinking Water at Phatthanasanamxay Village, Champasack Province, Star Tech in Vientiane Capital, and Thepaumnuay in Vientiane Capital.
The u-money system is an electronic wallet facilitating services such as funds transfers and cash withdrawals, which can be made at Unitel point of sale counters.
U-money is not only a transfer or cash withdrawal service but intends to become a comprehensive mobile finance service.
The service is continuing to grow with more and more organizations coming on board, finding u-money saves them time and cost.