QR codes for sending money

In 2023, it was reported that Laos will start using QR code transactions to facilitate money transfers and payments by workers and tourists in neighbouring countries. The initiative was implemented to address the lack of effective channels to enable Laotians abroad to send money home to Laos. The pilot phase was conducted with Vietnam, Thailand, and Cambodia at the end of 2023. Once the system is fully in place, Laos hopes that it will enable citizens abroad to transfer money through the banking system and save transaction costs, helping them avoid risks associated with using informal and unregulated channels. The system will also help the central bank monitor remittances more closely.