Agreement on Payment and Settlement Systems
支付清算系统协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ລະບົບການໃຫ້ບໍລິການຊຳລະເງິນ
Summary
This regulation governs payment and settlement service activities within and outside Laos, with the core being to prescribe operational principles and rules for payment service systems to ensure stability, security, and protect user rights.
Articles
Article ມາດຕາ 1
Article 4 Purpose
This agreement stipulates principles and regulations regarding the operation of the payment service system in order to make such work stable, safe, reliable, and efficient, aiming to protect the legitimate rights and interests of service users and contribute to the development of the payment system of the Lao PDR.
Article ມາດຕາ 2
Article 2 Payment Service System
Payment service system means the provision of payment services and/or transfer of funds by any payment service provider for the payment of goods, services, debts and other obligations through payment instruments, channels and mechanisms that are in compliance with the law.
Article ມາດຕາ 3
Article 3 Interpretation of Terms
The terms used in this agreement have the following meanings:
1. Payment service provider: means a payment service provider in the Lao PDR and a cross-border payment service provider;
2. User: means an individual, legal entity or organization in the Lao PDR or abroad that conducts financial transactions through a payment service provider;
3. Payment service agent: means an individual or legal entity appointed by a payment service provider to provide payment services of a certain type or form on its behalf, including a principal agent and a sub-agent;
4. Payee: means a seller of goods or services who accepts payment for goods or services using the payment instruments of a payment service provider at various locations such as shops, hotels, tourist sites that have been certified by the payment service provider.
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