Leasing company offers payment through BCEL
Leasing company offers payment through BCEL
Banque pour le Commerce Exterieur Lao Public (BCEL) and Sisombath Leasing Company Limited on Friday launched the AutoPay system, making it easier for the company's customers to make payments if they hold a BCEL bank account.
Cooperation between the bank and the company took a significant positive step with the plan to offer an easier system for making monthly payments to the leasing company.
Speaking at the launch, BCEL Deputy Managing Director Mr Phoukhong Chanthachack said the automatic payment service was the latest such sy stem to be offered by the bank and would be convenient for the bank's customers.
“At the same time, customers of leasing companies teamed up with BCEL will also find it easier to make payments without having to go to the company directly,” he said.
The payment service will involve automatic deductions from customers' bank accounts, which will be arranged according to the repayment period determined by the customer.
“BCEL recently reached cooperation agreements with several leasing companies and Sisombath Leasing Company Limited is the latest to sign a cooperation agreement with us,” Mr Phoukhong said.
He added that BCEL is also set to continue its endeavour to partner with more companies to promote electronic payments rather than cash payments, especially for people who owe money on car purchases.
Director of Sisombath Leasing Company Limited, Mr Van Phonxaiya, said this was good news for the company's customers as they could now use the auto payment service and avoid any mistakes when it comes to cash transfer.
“We chose BCEL because it has provided a long time service to Lao society and has a huge number of customers,” he said, adding that customers will not have to pay any auto payment charges, as the company will be responsible for the m as an extra bonus.
Each auto payment service will be charged at 8,000 kip per time, which the company will pay.
Some 3,000 to 4,000 holders of BCEL accounts are now customers of the company, so switching to the new auto payment service would be the smart thing to do, according to a senior company manager.
BCEL sta nds out as a public commercial bank, having a total of 19 branches and 65 service units nationwide. The bank also has the largest market share and customer base. The bank's assets cover 28 percent of the Lao banking sector, 27 percent of loans, and 36 percent of deposits.
Leasing companies in Laos appear to be increasing in number, presumably because of public demand for items they are unable to buy outright.
A wide range of products are obtain able through leasing companies although the most common are mobile phones, motorbikes, cars and electronic devices.
