The State Bank of Vietnam and the Bank of the Lao People's Democratic Republic have launched a cross-border retail payment service using QR codes between Vietnam and Laos. The service, which will be provided by the National Payment Corporation of Vietnam (Napas) and the Lao National Payment Network Corporation (LAPNet), will be available to customers of 7 Vietnamese banks and 14 Lao banks. Transactions will be made in local currencies and converted at the time of payment. This new service is expected to enhance economic connectivity between the two countries and improve the cross-border payment experience for customers.