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Buying and renting property in Laos (Read 21490 times)
 
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Re: Buying and renting property in Laos
Reply #15 - 25th Aug, 2010 at 1:02am
 
The United States is a modern country so they are always ahead in nearly everything. People are still learning in Laos, most Lao merchants don't know how to use electronic gadgets such as a credit card processing machine. There's a fee charged to the customer, and the banks also charge the business a fee for processing credit card transactions. It's better to receive cash in hand, saves all the hassles and scams.
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Re: Buying and renting property in Laos
Reply #16 - 25th Aug, 2010 at 1:44am
 
Admin Saovaluck wrote on 25th Aug, 2010 at 1:02am:
The United States is a modern country so they are always ahead in nearly everything. People are still learning in Laos, most Lao merchants don't know how to use electronic gadgets such as a credit card processing machine. There's a fee charged to the customer, and the banks also charge the business a fee for processing credit card transactions. It's better to receive cash in hand, saves all the hassles and scams.


That's true there is lot of scam going on criminals can steal your ATM card or credit card number easily too. But they have law protecting consumers. There's pro and con. Using bank or credit card is very convenient, but can be expensive every time you use debit card ATM machine will charge you about $2-$3 fee and bank will charge you another $1 for each transactions. Laos is catching up, it'll take time.
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Re: Buying and renting property in Laos
Reply #17 - 30th Aug, 2010 at 11:18am
 
Main reason Some business don't like to use them is because of fraud, ususlly the bank charge the business 0.5% of the transaction, small business may be 1%, but if the card holder is not exist (fraud), then the business will lose the entire amount, of course, there is insurance but it's trouble.
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