An official launch of WeChat Pay and AliPay took place in Vientiane last week.

The ceremony was attended by the Deputy Governor of the Bank of Lao PDR, Mr Phouthaxay Sivilay; Director of Strategic Development of Wallyt, Mr Jacky Chiang; General Managing Director of BCEL, Mr Phoukhong Chanthachack; government officials from various sectors; business partners; customers; representatives from the Chinese Embassy to Laos, and Lao and Chinese travel agents.

The partnership is aimed at serving the needs of customers and the development of new digital banking products.

This is the first time that shops in Laos can accept payment through WeChat Pay, which involves payment using a QR Code with WeChat Pay and AliPay in the same QR Code. It is also the first time that e-commerce shops in Laos will have a QR Code to enable payment by WeChat Pay and AliPay. 

This is one more step by BCEL to introduce new payment systems using a QR Code through cooperation with Swift Pass and NTT DATA.

This enables BCEL’s customers to pay for goods and services digitally. It also provides additional security for buyers and sellers, especially for Chinese travellers.

There are at least 900 million user numbers throughout the world, mostly Chinese, who use this popular App.

Payment by WeChat Pay and AliPay will serve the needs of Chinese customers who visit or do business in Laos.

At present, there are more than 10,000 member shops of BCEL that provide payment services using the QR Code Function OnePay and BCEL One, which can now also offer payment through WeChat Pay and AliPay.   

The bank has developed its business with a focus on adopting innovations by introducing new products and services.

Each of the bank’s products is developed to meet the needs of its customers, their modern lifestyles and new business trends.

In particular, the use of electronic banking for payments is convenient, checkable, secure and standardised.

BCEL is continuing to cooperate internationally in applying modern technology to digitalise its services, especially by expanding payment via QR codes to facilitate cross-border trade and financial integration among countries in the region.