Mr. Veerathai Santiprabhob, Governor of the Bank of Thailand (BOT), and Mr. Sonexay Sitphaxay, Governor of the Bank of Lao PDR have signed the Memorandum of Understanding (MOU) on Cooperation in the Areas of Financial Innovation and Payments Systems. The MOU aims to enhance the collaboration on financial innovation and payment services to promote more efficient and secured domestic and cross-border payment transactions as well as to promote the usage of local currencies. The two central banks are working together to develop interoperable QR Code for payments and innovative real time remittance to facilitate cross-border retail payment services between Lao PDR and Thailand.
In this connection, our financial institutions have been collaborating to offer cross-border QR payment to enable easy and convenient payment for Laos and Thai tourists, as well as SMEs in both countries to receive payments in an efficient and convenient way. The progress is also achieved in the area of corporate funds transfer between two countries using blockchain technology.
Bank of Thailand
4 April 2019
For further information, please contact:
International Department, Corporate Strategy and Relations Group
Payment Systems Policy Department, Payment Systems Policy and Financial Technology Group
Tel: +66 2283 6464, +66 2283 6411
E-mail: IND-InterStrategy@bot.or.th, PSD-PaymentSystemsStrategyAndAnalysisDivision@bot.or.th