The Laos national bankcard payment system is up and running, one month ahead of schedule. The one-year project was handled by China UnionPay, China Development Bank and Bank of Lao P.D.R.
The successful launch of this project will substantially enhance the level of payment industry in Laos and will motivate the local economic, financial and social development; it also marks a breakthrough in the “Going Global” process of the experience of China’s bankcard industry and the technical standards of UnionPay cards.
Currently, 80% of the local ATMs and merchants accept UnionPay cards, satisfying the payment demands of tourists as well as the local cardholders.
In addition, Laos has issued 600,000 UnionPay cards, which is over 70% of all the bankcards issued in the country. UnionPay has become the largest bankcard brand in Laos, and these UnionPay cards are frequently used in the Chinese Mainland.
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