The launch of a cross-border payment service from Banque Pour Le Commerce Exterieur Lao Public (BCEL), and South Korean company GLN International, will provide more convenient payment options for Korean visitors in Laos.
An official ceremony to inaugurate the service was held between BCEL and GLN International Korea (GLN) which is a globally integrated platform that offers cross-border use of digital assets and benefits around the world.
Mr. Nanthalath Keopaseuth, Deputy Director of BCEL, and Mr. Han Jun Seong, President of GLN International Company, signed the partnership in the presence of witnesses from the Bank of Lao PDR.
This service will allow GLN’s registered wallet users to make cross-border QR code payments at merchants who use BCEL’s OnePay and they can also make cash withdrawals at BCEL’s ATM by scanning the QR code on their GLN registered wallet app.
Over 100 shops and service providers accept this form of payment, particularly in tourist areas of Vientiane Capital, Vang Vieng, Luang Prabang, according to the bank. There are plans to expand these services to other provinces and towns as well.
BCEL also recently announced that customers would now be able to receive international bank transfers directly into their accounts through MoneyGram.