Top payment methods in Laos: A guide on best ways to pay
Wondering what the most popular ways to pay are in Laos? Explore the top payment options and choose wisely.
Laos, with a population of around 7.79 million people, has a GDP of approximately 16.32 billion making it the 138th largest economy in the world. The official currency of Laos is the Lao Kip (LAK)
The economy is based on the export of natural resources, primarily electricity from hydropower, minerals, and agricultural products. It is a member of ASEAN and is increasingly integrated with its neighbors, especially China and Thailand, through infrastructure projects.
| Country | Laos |
|---|---|
| Population | 7.79 million |
| GDP (USD) | 16.32 billion |
| Global Ranking | 138th |
| Currency | Lao Kip (LAK) |
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What is the main payment method in Laos?
The overwhelmingly dominant payment method in Laos is physical cash, the Kip, although Thai Baht and US Dollars are also used in border areas and for large transactions. The leading banking app, BCEL One, has successfully popularized QR code payments (known as OnePay) in urban centers. For business dealings and other larger transactions, direct bank transfers are the standard method.
How to pay in Laos
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Laos.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cash (Lao Kip) | Cash is the primary and most essential payment method for almost all transactions throughout the country. | In-person |
| QR Payments (LAPNet) | The national payment network, LAPNet, has driven huge growth in QR code payments. Paying via a banking app's QR scanner (OnePay, BCEL One) is now very common in cities. | In-person |
| Cards (Visa/Mastercard) | Card acceptance is generally low and confined to high-end, tourist-oriented businesses like hotels and restaurants in major cities like Vientiane and Luang Prabang. | In-person |
| Bank Transfers | Bank transfers are used for larger payments and are becoming easier through mobile banking apps. | Online |
Traveling beyond Laos? Explore payment methods by country.
Is PayPal available in Laos?
Yes, PayPal is accepted in Laos.
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Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
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Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.