Vientiane, Laos – November 27, 2024 — A delegation from the Standing Committee of the Laos Ministry of Public Security, led by Mr. Saveng Phommaly, who also serves as an advisor to the Lao National Digital Technology Group (LADT), visited LADT’s Vientiane headquarters to inspect and discuss the development of Laos’ digital payment industry. The visit focused on potential collaboration with NewPay to combat illegal cross-border payment activities within Laos.

LADT CEO Richard Ma, NewPay CEO Dr. Meksavang Phommaly, and CFO Ms. Cui welcomed the delegation and provided a detailed briefing on the company’s recent developments.

NewPay Payment Platform Achievements

Since Q4 2024, NewPay has successfully updated its payment license and become the first platform in Laos to integrate Alipay+, with operations expected to launch officially in December. As the exclusive non-bank WeChat Pay acquiring institution in Laos, NewPay has been steadily expanding third-party digital payment services, particularly in cross-border transactions. Its QR code payment system has been widely recognized for convenience, security, and efficiency, earning adoption among top-tier merchants and driving sustained business growth.

Regulatory Cooperation on Illegal Cross-Border Payments

Mr. Saveng Phommaly highlighted that the Ministry of Public Security has established a special economic task force to crack down on illegal cross-border payments, including the use of personal WeChat, Alipay, and other foreign payment tools, in accordance with the Bank of Laos’ Notification No. 05 on the use of payment instruments. The Ministry expressed the expectation that NewPay, as a benchmark for regulated cross-border payment services in Laos, would collaborate with both the Bank of Laos and the Ministry to standardize the industry and safeguard national economic and fiscal security.

NewPay affirmed its commitment to full compliance with Laotian regulations and pledged to support the authorities in eliminating illegal payment practices. The company also expressed gratitude to Mr. Saveng Phommaly for his guidance and welcomed regular visits and exchanges with the Ministry. NewPay will continue to provide updates on digital payment industry development and operational data, as well as technical assistance tailored to combat illegal cross-border payments.

Looking Ahead

Adhering to the principle of “Rooted in Laos, Serving ASEAN”, LADT aims to deepen its role in cross-border and mobile payments. By working closely with the Bank of Laos and the Ministry of Public Security, the group seeks to establish a secure, efficient, and interconnected financial ecosystem, contributing to the sustainable growth of Laos’ economy and the broader ASEAN financial market.