Phongsavanh becomes first Lao bank to offer VISA, MasterCard services

Phongsavanh became the first private bank in the Lao PDR to provide services for VISA and MasterCard.

General Director of Phongsavanh Bank, Mrs Sengdao Bouphakonkham said at the launching ceremony that, “Today is a landmark of Phongsavanh Bank to open the electronic cards for public use as we promised.”

“Since Phongsavanh Bank has been approved to be a principle member of VISA and MasterCard Agency, the bank started investment and study. Now the bank has VISA and MasterCard service centre and managed by itself,” she added.

The bank initiated the Card use on September 2009 as a receiver of VISA and MasterCard service.

The Phongsavanh Bank provided VISA service on January 2010 and MasterCard on June 2010.

Ms Sengdao continued that the initial achievements thanks to technical cooperation, management issuance of modernised card with Sunguard Company, based in Malaysia and technical assistance from the VISA and MasterCard Agency.