SHANGHAI, Dec. 25, 2024 — UnionPay International (UPI) and the Lao National Payment Network (LAPNet) established QR code payment interoperability in Shanghai on December 19th. UPI Chairman Dong Junfeng and LAPNet Chairman Manolith Soumphonphacdy attended the launch. Now, users of the UnionPay app, compatible Chinese e-wallets, and international UnionPay partner wallets can use their apps to pay Lao merchants via Lao QR codes. UPI CEO Larry Wang and LAPNet CEO Sisamone Srithirath signed the collaborative agreement.
Mr. Dong noted Southeast Asia’s accelerating development of local QR payment networks and cross-border payment linkages. UnionPay actively promotes China-Southeast Asia payment connectivity. This LAPNet collaboration enhances UnionPay’s cross-border interoperability, improving mobile payment experiences for UnionPay wallet users in Laos. UnionPay will continue to foster China-Southeast Asia people-to-people exchange and support Asia-Pacific payment development.
Mr. Soumphonphacdy highlighted this partnership as a significant achievement in enhancing Laos-China cross-border payments and digital financial services collaboration. This linkage is vital for facilitating Lao trade with China and other ASEAN countries. LAPNet looks forward to working with UPI to expand this collaboration, driving regional financial and payment innovation for businesses and residents.
UnionPay cards are widely used in Laos, accepted at nearly all POS terminals and ATMs. With increasing Lao QR code usage, UnionPay expanded its QR payment coverage. This partnership integrates UnionPay’s QR specifications into Laos’ national QR code standard, enabling widespread mutual acceptance and improved cross-border mobile payment experiences.
This network interoperability model allows Lao QR merchants to easily support UnionPay mobile payments by updating their payment codes; no additional technical upgrades are needed. UnionPay app users, compatible Chinese e-wallets, and international UnionPay partner wallets can conveniently scan Lao QR codes to pay. New Lao QR merchants will accept UnionPay by default.
UPI and LAPNet will enable Lao residents to use their home banking apps to pay at UnionPay QR merchants in China. Linking physical or digital UnionPay cards within Lao wallets will allow payments via UnionPay QR codes in accepting countries and regions. This improves Lao residents’ mobile payment experience during international travel, particularly in China.
Since last year, UPI has launched or is developing payment linkages with local switches in 18 countries/regions outside mainland China. Over 8.6 million merchants in 46 countries/regions outside mainland China accept UnionPay QR payments.
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Source: UnionPay International
