Licenses library · 788
License for Providing Payment Services
支付业务许可证
ໃບອະນຸຍາດດຳເນີນທຸລະກິດການໃຫ້ບໍລິການຊໍາລະ
Commercial banks, legal entities, financial institutions regulated by the Bank of the Lao PDR Apply at Payment Systems Department (021 253595;).
Who needs this
Commercial banks, legal entities, financial institutions regulated by the Bank of the Lao PDR
Requirements
- The requirements for obtaining authorization to be a provider of general payment services include the following conditions: 1.1. Must be a legal entity; 1.2. Must have stable financial status and sufficient capital to conduct business according to the regulations of the Bank of the Lao PDR.; 1.3. Must have an economic-technical feasibility study; 1.4. Must have qualified management with experience in finance, banking, technology, information, and other related fields, and must not have been previously sanctioned by a court for financial, banking, or money laundering offenses; 1.5. Must employ staff with knowledge and skills in finance, banking, technology, information, and other related fields; 1.6. Must have operational systems, including technological systems for information and data management and internal control systems; 1.7. Must have an appropriate location; 1.8. Must meet other conditions as stipulated by the Bank of the Lao P.D.R.
- The requirements for obtaining authorization to be a payment service provider include the following conditions: 2.1. Must meet the conditions specified in Article 1 of this regulation; 2.2. Must have asset protection systems from users or through other payment service providers; 2.3. Must have a connection system with the payment system in the Lao PDR.
Documents — first application
| Document | Note |
|---|---|
| Application Form | by the Department of Payment Systems |
| Copy of Enterprise Registration Certificate | |
| Other Related Documents |
Legal framework
- Decision on Payment Services
- Law on Payment Systems (Amendment)
How to submit
- Means of presentation
- At the Authority Offices
- Address of authority
- Payment Systems Department, Bank of the Lao PDR
- Processing time
- 30 Regulations: Decision on the provision of payment services No.288/BoL, dated May 17, 2020, Article 15 (Documents required for providing payment services that must be authorized), contact the concern department to complete the documents according to the Checklist of the Payment System Department
Validity and renewal
- Has an expiry date
- YES
- Validity
- 60 months
- Renewal process
- The license is valid for 5 years according to the decision on the provision of payment services No. 288/BoL, dated May 17, 2020, Article 22 (Usage and validity period).