TechInAfrica – Laos’ leading payment solution provider, KiwiPay, has entered an agreement with three finance entities, including Laos Central Bank, Laos Ministry of Finance, and the Lao Development Bank, to provide a cashless payment solution for visas processing in the border areas of the country as well as SMBs cashless payment capabilities.
KiwiPay solutions have been used in a test in Vientiane’s Wattay International airport for Chinese tourists using Alipay’s facial recognition feature. Last year, over 900,000 Chinese tourists visited Laos. In 2019, the Laotian government is targeting over 1.2 million Chinese tourists to visit the country.
Gregory Schmidt, CEO and Founder of Kiwi Group stated, “The solutions have proven the ability to speed up and ease the visa process for tourists. We are now testing the solution with governments in several other frontier markets in Southeast Asia and up to 7 countries in Africa.”
Besides promoting cashless payments, KiwiPay solutions want to help SMEs to digitize their payments using dynamic QR code solutions to retail shops, hotel, and restaurants. This can be done by enabling foreign e-wallet solutions like ApplePay, WeChatPay, AliPay, SamsungPay, and so on.
To date, KiwiPay has processed over US$200 million worth of transactions annually and the number grows fast monthly. The solutions are based on a commission fee business model which enable countries to shift to cashless payment using their own currencies.
Apart from the partnership with the three entities, Kiwi Group has entered a joint-venture with Meal Temple Group, the leading startup in the food delivery sector in frontier Asian market. This partnership allows restaurants to use KiwiPay solutions to boost cashless payments.