Public Bank Laos launches Visa credit, debit cards
VIENTIANE - Public Bank Laos and VISA International Co jointly launched a Visa issuing service comprising Visa credit and debit cards in a bid to provide its customers with a package of services.
The new service will allow greater convenience, security and wide acceptance for payments as Visa is accepted at more than 36 million merchants and 2.4 million ATMs worldwide.
Public Bank Laos is the overseas branch of Public Bank Berhad, which is one of the largest and strongest domestic banking groups in Malaysia.
Speaking at the ceremony, Regional Head of Indo-China Operations Phan Ying Tong said “The number of medium and high net worth income earners has seen an increasing trend for the past few years and the launch of this Visa Issuing service by Public Bank Laos is very timely to cater to this market segment.”
“We believe this partnership will add value to the card payment network, provide greater convenience to customers and contribute towards the economic growth of Laos,” he said.
He noted that “Today marks an important milestone as the launch of the issuance of Visa Credit and Debit Card in Laos coincid es with Public Bank's 50th anniversary this year.”
The issuance of Visa Credit and Debit Cards has positioned Public Bank Laos at the forefront of the card business which is also in line with the Bank's ongoing initiative and commitment to promote more cashless transactions in Laos, Mr Phan added.
Meanwhile the Malaysian Ambassador to Laos Dato' Than Tai Hing also extended his heartiest congratulations to Public Bank for these important additions to its range of products and services.
“Since its establishment 21 years ago, Public Bank Laos has grown from strength to stre ngth and now has a paid-up capital of almost US$50 million,” he said, adding that it has provided more than 100 direct employment opportunities to the people of Laos.
Currently the bank has a strong presence nationwide with its four branches namely in Vientiane, Sikhay, Savannakhet province and Pakxe district of Champassak province.
“In short, I dare say that Public Bank has taken a leading role in driving financial excellence in Laos,” the ambassador added.
Public Bank commenced its banking business in Laos in 1995. It is one of the leading commercial banks in Laos with a network of four branches. Public Bank Laos' total current paid-up capital of US$48 million is one of the highest among the commercial banks in Laos.
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