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PSVB is pleased to announce the launch of its Visa and MasterCard Acquiring Businesses. The world has evolved into a cashless society and acceptance of credit or debit card for payment of goods and services is now a norm, worldwide.  The use of the card as a payment instrument is also very safe as all transactions are electronically authorized and transmitted online real time.

In additional to the above, we are also pleased to announce that PSVB’s merchants can now accept PSVBATM card as another form of payment instrument.

The benefits to the merchant in card acceptance are:

  • Increase in sales volume.
  • Less cash handling, time spend in counting cash is reduced. Risk of cash short collected is eliminated.
  • Risk of accepting fraudulent notes.
  • Payment directly credited to bank account (for bank account maintained with PSVB).
  • There is no charge for paper roll, installation or terminal.
  • Collateral / deposit is not required to conduct card acceptance.
  • Competitive Merchant Discount Rate.


How to apply to be a PSVB Merchant

A few simple steps and you are on the way to be a PSVB merchant.
- Complete a Merchant Application form. You can request this form from any    PSVB branches and service units or contact our Card Centre, merchant unit at 021 219253 or e-mail to
-  Submit the following documents

  • Business License
  • Investment Registration License
  • Tax License
  • Business owner(s) ID card and family book for Lao citizens and passport for foreign business owner(s)
  • ID card of the authorized person nominated by the business owner to handle the merchant account


Frequently Asked Questions

  • What is the transaction currency accepted by PSVB?

Phongsavanh Bank accepts transactions in Lao Kip only for all international Visa and MasterCard cards at its POS terminals and dispense Lao Kip at its ATMs.

  • What is a merchant?

A merchant is an entity that contracts with an acquirer or member bank to accept card payments for goods or services provided.

  • What is the credit card business and how does it works?

Merchants can accept a credit card or a debit card. A credit product allows the cardholder to make purchases based on an established line of credit received by their card issuing bank.  The credit limit is the spending amount established by the issuing bank based on a cardholder credit profile.  The cardholder is billed later on a pre-determined date and he has to settle the outstanding balance within a time period.  A debit product allows the cardholder to make a purchase based on funds available in their bank account.  Debit purchases are drawn directly from the cardholder’s bank account and show up directly on the cardholder’s monthly bank statement.

  • How do I begin accepting credit cards?

It's easy to get started!  The first step in accepting credit cards is to contact our Card Centre Merchant Unit to apply for a merchant account with our bank.

  • What credit cards can I accept?

The brands currently accepted are:-

    • Visa
    • MasterCard

(PSVB will be acquiring other brands in the future and announcements will be made on our website)

  • Will I incur any cost in accepting credit cards?

Yes, first of all there is the merchant discount rate that the merchant has to pay for each card accepted transaction

  • Can you describe the application process?

The application process begins when you complete our application form or contact us by phone, we will make an appointment with you on the same day or following working day.  Once you complete the application form, send it back to us with the relevant documents for our internal assessment and approval. Applications can be declined if there is a serious credit problem or if it is a business that we don't approve (adult content, drug paraphernalia, etc.,) otherwise it will likely to be approved.  We will obtain a credit report on each merchant.

  • How long does it take to get my account set up and to start accepting credit cards?

Fourteen (14) working days.

  • Is there a contract?

Yes, don't let anyone or any agencies tell you otherwise.  Anytime you sign up for a merchant account to accept credit cards (in particular Visa/MasterCard) Visa/MasterCard require the merchant account owner to commit to a contract.

  • What is an acquiring bank?

An acquiring bank is the bank that holds your credit card merchant account.  It is also the bank that transfers funds from your merchant account into your local bank account.

  • What is the “merchant discount rate”?

The "merchant discount rate" is a percentage that the acquirer bank (PSVB) charges for processing each transaction.

  • What type of equipment do I need to accept credit cards?

There are two (2) types of point-of-sale (POS) terminal

  • Dial up POS terminal: This POS terminal will connect to your telephone line.
  • GPRS POS terminal: This is a wireless POS terminal where a SIM card is use just like a mobile phone.
  • Can I use someone else’s merchant account to do my transactions?

No, this practice known as "credit card laundering" or “factoring” is prohibited.  Using someone else's merchant account to do your credit card transactions can lead to termination of your merchant account.

  • When will the bank pay me?
  • If merchant has performed POS transaction during the day, at the end of day (close of business) the merchant must perform settlement transaction in terminal.
  • Funds will be credited the next working day(for merchant who has Saving / Current Account with PSVB)
  • Otherwise “ 3 business day (T plus 2)”
  • How is the transaction processed?

Processing a credit card transaction involves two stages: Authorization, where an electronic request is sent through various parties to either approve or decline the transaction; and Clearing and Settlement, where all parties settle their accounts and get paid.

  • Who is an acquirer? And why do I need one?

Also referred to as a merchant bank, an acquirer is a financial institution licensed by Visa or MasterCard that helps a merchant in fulfilling its processing obligation to accept Visa or MasterCard cards.  The acquirer is set up to connect and process transactions over the Visa or MasterCard network.  The merchant agreement should also have the name of the bank clearly identified.

  • What are the benefits of accepting Credit Cards?

Whether you're a new business or an established enterprise, card acceptance will likely have a big impact on your bottom line:

  • Increased sales

Consumers spend more when they're not constrained by cash on hand.  You may see increased purchases of higher-margin products as well as specialty items. And customers may visit your store more often.

  • Customer Satisfaction

Your customers will appreciate the fact that you allow them the flexibility to pay the way they want to pay - including by credit or debit card.  Happier customers are more loyal customers.

  • Speed of checkout

You'll speed your customers through checkout with rapid electronic payment. No more counting change or waiting while customers write checks.

  • Improved Efficiency

Card transactions today are conducted electronically.  These paperless payments can save you time and money by minimizing cash handling and payment reconciliation, giving you more time to do more important things - like managing and growing your business.

  • Safety

With lower volumes of cash, you're less vulnerable to theft and pilfering.

  • Cashless Society

The world has evolved to a society that cash is no longer carried around.  Everyone holds a credit or debit card.  It is the accepted practice in the world today.  The chance of a person visiting a store and paying through cash is very much lesser than it was 10 or 20 years ago.

  • Are there any programs that will help to grow my business?

Depending on the type of merchant business you run, Visa and MasterCard has many programs designed to grow your business.

  • Who do I call if I have a problem with my terminals?

You may call our Card Center Merchant Unit at 021 219253 or our Authorization Unit at 021 219221 (after office hours).

  • What is a Smart Card, and how can this new technology help my business?

The Smart Card is a card embedded with a computer chip.  Smart Cards are simple to use and accept, and can give cardholders increased convenience and control.  Smart cards are less prone to fraud and the likelihood of accepting a fraud smart card is much lesser than a magnetic stripe card.

  • What is the procedure when a card is presented and cannot be swiped?

Call to our Card Center, Authorization Unit. Tel: 021 219221

  • Will I know how to use the terminal?

Once you receive your POS terminal you will receive a quick reference guide that shows you how to operate the terminal.  In addition, we provide training to our entire merchant base.

  • Will you charge me for a second merchant account?

No, we do not charge for a second merchant account but of course a transaction fee applies for each transaction processed.

  • Who need a second merchant account?

 People who often own two businesses or different locations with the same business name.  It is not a rarity for a company to have more than one merchant account to process credit cards.

  • What is debit card processing?

Debit card processing is almost like accepting credit cards except for the fact that you’re using a debit card to process the charge.

  •  What you can’t do as a merchant:

Just because you have a merchant account doesn't mean you can do anything you want with it. Visa and MasterCard has guidelines governing their use. Here are some things you cannot do:

  • Personal Use - Visa and MasterCard do not allow their services to be used for personal reasons.  All accounts must be established for one business and to be used only for that business’ products and services.  An account cannot be established for an individual nor can a merchant use their merchant account for personal reasons.
  • Factoring - Visa and MasterCard do not allow more than one business to use a merchant account.  All accounts must be established for one business and to be used only for that business’ products and services.  When a business processes transactions for another business, even if they own that business, they are “factoring”.


  • Charge More for Credit Card Transactions - Visa and MasterCard does not allow a merchant to charge more for products/services paid for by their credit cards.  They do not want paying by credit card to be seen in a negative light. This is called surcharging.
  • What is a chargeback? Is there any fee for chargeback? 

A credit card transaction that is billed back to the merchant after the sale has been settled as a result of legitimate disputes by the cardholder.  Chargeback’s are initiated by the card issuer on behalf of the cardholder.  Typical cardholder disputes involve product delivery failure or product/service dissatisfaction. Cardholders are urged to try to settle dispute directly with the merchant before disputing the bill with the credit card issuer. 

  • I lost my merchant account from too many chargeback’s, what can I do?

Your company will be listed in The Match File.  The Match File is a database file used by MasterCard and Visa processing banks to identify specific merchants and owners who have had their merchant accounts terminated.  Once a merchant is on this list it is highly unlikely that future merchant account applications will be approved.  The Match File is essentially a BLACKLIST from which it is almost impossible to be removed.  If a business or merchant has violated Visa and MasterCard rules in some way, their account will be added to the Match File. The most common reasons include:

  • Fraud
  • Factoring (ringing sales for another business)
  • An excessive number of chargeback’s
  • The processing bank concludes that serious violations of the merchant  agreement could result in increased loss exposure to itself or the credit card community. 

Once a merchant has been placed on The Match File, only the processing bank that added them can remove them from it. The merchant must work with the processing bank directly to accomplish this. You do not want to be on the Match File!

  • How do I prevent chargeback?

Make sure that your business name in use is one that your customers will recognize on their statement.  Most chargeback’s start when a customer does not recognize a charge on their statement even though it may be a legitimate charge.
The first step is to make sure you fully comply with the transaction requirements

  • Get an authorization
  • Have proof the  card was present by inserting/swiping the card and the transaction details are printed  on the transaction receipt
  • Get a signature from the cardholder and compare the signature to the back of the card

Tips and Useful Info:

  Card Safety and Security
  Lost or stolen card
  Emergency Contact in Laos
  Emergency Contact while traveling
  Card Safety Do & Don't
  Interest and Fees

Service Channel:

    - Branch Information
  Service Unit
    - Service Unit Information


    - Application form
    - Brochure
    - Credit Card Handbook
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