Technology gurus join forces to develop electronic payment machine

LAO PDR (Vientiane Times) - The Technology Computer Electronic Institute (TCEI) under the Ministry of Science and Technology will partner with Advance Travel Technology ImportExport Co., Ltd. to develop electronic payment services.

Representatives of the Technology Computer Electronic Institute, Advance Travel Technology, and the Department of Planning and Cooperation yesterday sign an agreement on electronic payments.

The initiative was cemented in the signing of a Memorandum of Understanding (MOU) on Monday by TCEI Director Mr Vilaysack Inthapatha, Director of the Department of Planning and Cooperation, Dr Khamphet Vongdara, and President of Advance Travel Technology, Ms Sengvichith Sivongxa.

Under the MOU, the institute and the company have drafted a cooperation and information plan since the middle of 2018, which studies the introduction of payments electronically, including refills on mobile phones, repayment of loans, and payment for goods purchased.

The parties involved also agreed to study the printing of invoices using electronic machines. “Development cooperation will help to expand the institute’s strategy plans for technological development,” Mr Vilaysack said at the MOU signing ceremony.

With Laos fully immersed in the era of 4.0 technology, mobile phones are playing an increasingly important role in everyday life. Mobile phone refills are not a simple process, so the development of a machine that would simplify this daily need, undertaken by Advance Travel Technology, will ensure greater convenience for mobile phone users.

Mr Vilaysack said that such a machine would aim for easier and quicker usage. It would provide a modern response to society’s needs and comply with government policy on the use of technology in sales management by SMEs. Mobile phone users can currently top up their credit using a banking system provided by the BCEL One Application.