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UnionPay Takes Its QR Payment Network Into Laos

Published: Dec. 20 5:58 a.m. GMT+8

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Executives from UnionPay International and Laos’s LAPNet at the launch of the Laos-China QT payment interoperability project service in Shanghai on Dec. 19, 2024.

China’s UnionPay International has teamed up with the Lao national payment network LAPNet to allow customers using UnionPay-supported wallets to make seamless mobile payments in Laos.

The partnership, announced on Thursday in Shanghai, marks UnionPay’s second multilateral cross-border QR payment collaboration in Southeast Asia, following its October agreement with Vietnam’s central bank.

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UnionPay International partners with Laos's LAPNet to enable seamless mobile payments through UnionPay-supported wallets, marking its second cross-border QR payment collaboration in Southeast Asia.
UnionPay's QR standards are integrated into Laos' payment system, facilitating merchants by simplifying technical updates and mandating broad acceptance of UnionPay payments.
This collaboration is part of UnionPay’s expansion linked to China's Belt and Road Initiative, now connecting with over 110 countries and integrating with SE Asian financial infrastructures.

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Who’s Who

UnionPay International: UnionPay International has partnered with LAPNet to enable UnionPay-supported mobile payments in Laos through QR codes. This collaboration follows their cross-border payment initiative with Vietnam and integrates UnionPay QR standards into Laos’ payment system. UnionPay has significantly contributed to Laos' financial infrastructure since 2012, issuing over one million cards. The partnership reflects UnionPay's focus on expanding cross-border payment services as part of China’s Belt and Road Initiative.

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What Happened When

Since 2012：: UnionPay has helped establish the country's financial clearing network in Laos and helped develop a national bank card payment system.

2019：: The central bank of Laos invited UnionPay to co-found LAPNet, marking the company's first role as a shareholder actively managing a foreign financial infrastructure.

Since 2023：: UnionPay expanded its QR payment network to 46 countries, connecting more than 8.6 million international merchants.

October 2024：: UnionPay reached a cross-border QR payment collaboration agreement with Vietnam's central bank.

December 19, 2024：: UnionPay and the Lao national payment network LAPNet announced their partnership in Shanghai to enable UnionPay-supported wallet payments in Laos.

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