Money

China Unionpay issues first debit card in Laos

(Xinhua)
Updated: 2011-05-27 11:21

BEIJING - China Unionpay, a national bank card association, said on Thursday that it has issued its first Unionpay debit card in the People's Democratic Republic of Laos.

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The company said the Unionpay cards are currently accepted by all ATMs and POS terminals owned by the Banque Pour Le Commerce Exterieur Lao (BCEL), a leading lender in the Southeast Asian country.

Su Ning, president of China Unionpay, said the issuance of Unionpay cards in Laos marked a breakthrough between the company and the BCEL in financial cooperation.

The launch of Unionpay cards in Laos will enhance convenient payments to business and leisure travelers. Holders can also use their cards in 110 countries and regions, apart from Laos.

The Southeast Asian nation began offering Unionpay card acceptance services in December 2010. The cards are currently accepted by 60 percent of Lao's ATMs and 50 percent of the country's merchants.