Bank of China Enables Cross-Border Digital RMB QR Code Payments with Laos, Delivering Real-Time Settlements for Tourists and Local Merchants

On December 27, Bank of China executed the inaugural cross-border digital currency QR code payment with Laos, under the joint guidance of the People’s Bank of China and the Bank of Laos. The bilateral CBDC pilot advances digital payments in the region, with BoC’s Vientiane branch among the first to access the cross-border digital RMB platform. Real-time exchange rate quotes and efficient clearing enabled on-site QR verification for Lao merchants, reducing barriers to cross-border settlement.

Chinese travelers can pay in their home currency by scanning merchant QR codes in the digital RMB app, guided by live exchange rates and a streamlined settlement flow. Lao merchants can receive funds through their existing devices and channels, with compliance preserved and no major hardware changes required. The pilot highlights how CBDC-enabled QR payments may simplify cross-border commerce and support tourism between China and Laos.