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! ”
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