Agricultural Promotion Bank leads financial innovation in Laos with Visa for seamless cross-border payments
VIENTIANE: The Agricultural Promotion Bank Co., Ltd. (APB) is reinforcing its position as a leader in financial innovation through a collaboration with Visa, a global pioneer in digital payments.
By adopting Visa B2B Connect, APB is enhancing its cross-border payment capabilities with a secure, efficient, and transparent solution designed for modern business needs.
The launch on April 30 of APB World-Remit enabled by Visa B2B Connect marks a significant step in improving the way Lao businesses handle international transactions.
This platform enables direct bank-to-bank transfers, increases transparency, and allows clients to track payments in near real-time, delivering greater speed, accuracy, and confidence in every transaction.
Managing Director of APB, Philavanh Sophabmixay, said "This collaboration with Visa aligns perfectly with APB's commitment to advancing digital financial services and contributing to sustainable economic development in Laos.
"Guided by our 'Swift, Complete, Accessible' strategy, we're creating an integrated ecosystem that supports corporate clients with smart tools for payments, liquidity, and real-time international fund management."
- Photo: Vientiane Times/ANN
He also noted that APB World-Remit with Visa B2B Connect supports a broad range of foreign currencies and is available in more than 110 countries and territories, strengthening APB's role in connecting Lao businesses to international markets.
Visa Country Manager for Vietnam and Laos, Dung Dang, said "We are pleased to support APB in enhancing cross-border transactions for businesses in Laos.
"The adoption of Visa B2B Connect will provide Lao businesses with a robust solution for managing international payments more effectively.
"This collaboration highlights our commitment to fostering innovation and offering seamless financial solutions that cater to the evolving needs of our clients and partners in Laos."
This collaboration is part of APB's wider Digital Remittance Solutions initiative, focused on expanding global service offerings through forward-looking technology and strong strategic collaborations.
Corporate customers can now access cross-border payment services via the APB Business platform. - Vientiane Times/ANN
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