Qingqiao International Security Group has targeted the development opportunities in the Southeast Asian market since 2021 and started to layout. While protecting overseas interests, the Group has actively built an international business cooperation platform, and the industry ecology has been continuously enriched. At 2022:12 on December 27, 10 (Laos local time), Qingqiao and the board of directors of Wuhan Lichu Commercial Service Co., Ltd. (hereinafter referred to as "Lichu Commercial Service") discussed with Laos Sirichalernxay Sole Co., Ltd (hereinafter referred to as "Sirichalernxay") about mobile payment cooperation. The two sides carried out extensive and in-depth exchanges on their respective companies, business development and cooperation models.

▲Mr. Ben, Chairman of SIRI Zhalen Company in Laos

Discuss cooperation with the board of directors of Lichu Commercial Services

Sirichalernxay Sole Co., Ltd. is a subsidiary of Douangchaleurn Development and Construction Group Co,. Incorporated in Laos in August 2020, Ltd (DDC) has successfully implemented many IT projects for the Lao government, including the development of Loudchat, a communication solution designed for Laotians and Lao Greencode, a pandemic prevention solution. In 8, Sirichallenxay was selected as the company for the implementation of the Government Data Exchange Platform (GDX) by the Lao Government and a partner of the Lao Ministry of Technology and Communication (MTC) to develop the National Digital Technology Park located in Vientiane City.

Founded in 2011, Lichu Commercial Service is one of the earliest high-tech enterprises engaged in the research and development and application of aggregate payment technology in China, and is also a leading merchant digital operation operator. It has three product systems: the aggregate payment brand "Sweep", the industry light SaaS "FU+", and the global marketing middle platform "Youyu", and has successively carried out in-depth cooperation with well-known enterprises such as Taikang Group, Tencent Group, Ant Group, and Fuyou Group in the fields of aggregate payment, merchant digital services, and industry SaaS solutions. The company's operating network covers more than 600 cities in China, serving 125.2600 million offline merchants, with a peak number of daily transactions of more than 3500 million and an annual transaction amount of <> billion yuan. It is a leading brand in China's domestic aggregate payment industry.

▲Laos Duanzaren Group Co., Ltd

In China, the world of digital payments has been taken over by two giants, WeChat and Alipay. In contrast, Southeast Asia is a fragmented market, and its digital payment market structure is also highly fragmented.

In recent years, the online payment industry in Southeast Asia has boomed due to a series of measures taken by Southeast Asian governments. A report by PricewaterhouseCoopers (PwC), one of the world's largest professional services firms, pointed out that many governments in Southeast Asia are working hard to develop their own digital payments because digital transactions are easier to regulate and control, and can bring new economic growth points to their people.

According to the 2021 Southeast Asia Internet Economy Report, more than 90% of merchants accept digital payments, believing that digital financial services are an important factor to ensure the development of business. In addition, 75% of merchants believe that digital payments are more convenient, and 72% of merchants say that they will continue to increase the frequency of digital payments in the next 1-2 years.

Since there are no monopoly giants, this is also a huge market for entrepreneurs. Southeast Asia not only has a high network penetration, but also starts directly from the mobile platform, so it has an innate advantage in building a mobile payment environment. At the same time, Southeast Asia has accelerated its digital transformation under the influence of the epidemic, opening the door to the digital payment market.

In the process of popularizing mobile payment methods in Southeast Asia, many countries have chosen to introduce China's mature payment platforms, and some have chosen to follow China's footsteps. Such as Singapore's platform Grab. Grab hopes to follow in China's footsteps by launching a super app that integrates food delivery, online shopping, bike sharing and more, and promoting the development of their e-wallet, Grab Pay.

As an important financial infrastructure and service, the payment industry is attracting more and more attention from governments and capital in Southeast Asia. The vast majority of Southeast Asian countries have recognized the importance of the digital economy and have introduced policies to promote the digitalization of infrastructure, according to the analysis of the "e-Conomy SEA 2020" report, the main supported digital financial services are payment, remittance, lending, investment and insurance. Among them, digital payment services have the largest development scale, the total transaction value (GTV) of digital payment has reached 5 billion US dollars, and the total transaction volume (GTV) is expected to reach 6200.2025 trillion US dollars in 12000. Ebang Think Tank released the "Segmented Growth 2022 Southeast Asia Cross-border E-commerce Overseas Report", pointing out that by 2030, the scale of the digital economy in Southeast Asia will reach trillion US dollars.

Recent changes in global geopolitics in the post-pandemic era have made governments more aware of the importance of building their own payment systems and at least striving for connectivity with countries in the region. Secondly, as the most active part of financial innovation, the payment industry is being listed by government agencies in many countries as one of the key driving directions in the digital transformation of the economy, while national government institutions have also paid more attention to the importance of standardizing the development of the payment industry and continuously introduced various regulatory measures.

The Lao government's five-year plan for 2021-2025 states that the digital economy will be vigorously developed in the next few years. At the same time, in the context of the official opening of the China-Laos Railway, the Lao authorities hope to carry out more in-depth cooperation with Southeast Asian countries in the fields of digital economy and e-government, so that Laos will become an outpost and hub of Southeast Asia.

▲Lao Deputy Minister of Education and Sports Sisu Onviji took a group photo with the board of directors of Lichu Commercial Service

This time, Qingqiao International Security Group and Lichu Commercial Services and Sirichalernxay Company on the cooperation in the field of digital payment can be said to be a strong alliance, and in the future, all parties will give full play to their respective advantages, work together to integrate various platforms in Laos, accelerate the application of intelligent scene payment in various industries in Laos, and jointly explore a new model of Laos' digital economy under the normalization of the epidemic.

▲Lao Deputy Minister of Education and Sports Sisu Ongviji discussed the development of education informatization in Laos with the board of directors of Lichu Commercial Services

After that, Qingqiao Group and Lichu Commercial Service met with Ms. Siso Ongviji, Deputy Minister of Education and Sports of Laos, and discussed the needs of mobile payment for education, and inspected the information service system of Lao National University.

▲The talks were held in the conference room of the Ministry of Education and Sports of Laos