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Jan 11, 2024

Bank of Laos Approves NewPay's Cross-Border Pay

To enhance the systematic management of finance in Laos, the Bank of Laos officially issued Notice No. 05 on January 4, 2024.

The notice primarily addresses the unauthorized entry of payment tools and channels, in the form of QR codes and POS/EDC machines, into Laos, resulting in revenue and foreign currency being unable to enter Laos' financial system. It also publishes a list of non-cash receiving financial institutions for overseas payment tools in Laos. NewPay appears on this list, officially confirming NewPay's legality in the cross-border payment field.

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