Thai tourists can now easily pay for goods and services in Laos using QR codes, thanks to a new cross-border payment system launched on July 5. The service, initially available to users of the Thai Bank of Ayudhya (Krungsri) through its KMA Krungsri app, marks a significant step in enhancing financial accessibility between the two countries.

In Laos, the QR payment service is accessible through 17 banks, including Banque Pour Le Commerce Exterieur Lao Public (BCEL), Agricultural Promotion Bank (APB), Joint Development Bank (JDB), Lao Development Bank (LDB), Lao Viet Bank (LVB), ST Bank (STB), and Allied Bank (ABL). The Lao National Payment Network oversees the system.

Currently, only Krungsri offers this service in Laos, but the Bank of Thailand plans to include three more Thai banks—Kasikorn Bank (KBank), Bangkok Bank (BBL), and Krungthai Bank (KTB)—by the fourth quarter of this year. This expansion aims to further enhance cross-border financial transactions.

The service results from an agreement signed earlier this year to improve financial service accessibility and innovation. In April, a similar agreement enabled Lao tourists and workers in Thailand to make QR payments, with transactions totaling over 47 million baht (more than 1.2 million USD) in that month alone.

This QR code payment system is part of Laos’ broader strategy to enhance regional money transfers and payments with neighboring countries, including Thailand, Vietnam, and Cambodia. Laos launched a similar payment network with Cambodia in August 2023 and plans to introduce a comparable service with Vietnam to boost tourism and economic exchanges further.