The much anticipated Interbank Fund transfer (IBFT) through LAPNet (Lao National Payment Network Co Ltd) has been successfully launched on 8th December 2020. This stupendous feat is accomplished by the BOL (Bank of Lao), partnering with 7 major banks in the country namely Banque pour le Commerce Exterieur Lao Public (BCEL), BIC Bank Lao Co. Ltd, Lao Development Bank (LDB), Agricultural Promotion Bank (APB), Lao-Viet Joint Insurance Bank(LVB), Joint Development Bank (JDB) and ST Bank.
The network aims to create a more coherent and systematic channel for customers’ payments among the partner banks, making the inter-bank fund transfer through LAPNet an icing on the cake! The Lao IBFT ecosystem has received a fresh impetus towards a faster, more reliable and a convenient payment system.
As a technical service provider and a long standing reliable partner for the major member banks in Laos, CashLink Global Systems Pvt. Ltd. takes immense pride in delivering a robust and scalable solution thus making the payments via LAPNet a reality! ”
CashLink Global Systems Pvt. Ltd.
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