Decree 52/2024/ND-CP regulating non-cash payments

DECREE

REGULATIONS ON NON-CASH PAYMENT

Pursuant to the June 19, 6 Law on Government Organization; The Law amending and supplementing a number of articles of the Law on Government Organization and the Law on Organization of Local Government dated November 2015, 22;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to the June 18, 01 Law on Credit Institutions;

Pursuant to the November 17, 6 Investment Law;

Pursuant to the June 25, 6 Law on State Budget;

Pursuant to the June 12, 6 Law on Cybersecurity;

Pursuant to the June 15, 11 Law on Prevention and Combat of Money Laundering;

Pursuant to the June 12, 6 Law on Prevention and Combat;

Pursuant to the Postal Law dated June 17, 2010;

At the proposal of the Governor of the State Bank of Vietnam;

The Government issued a Decree regulating non-cash payments.

Chapter I

GENERAL RULES

Article 1. Scope

This Decree regulates non-cash payment activities, including: opening and using payment accounts; non-cash payment services; payment intermediary services; organization, management and supervision of payment systems.

Article 2. Subject of application

1. Organization providing non-cash payment services.

2. Organization providing intermediary payment services.

3. Organizations and individuals involved in providing non-cash payment services and payment intermediary services.

4. Organizations and individuals using non-cash payment services and payment intermediary services (hereinafter referred to as customers).

Article 3. Explain words

In this Decree, the terms below are construed as follows:

1. Non-cash payment services (hereinafter referred to as payment services) include: payment services via customer payment accounts and payment services not via customer payment accounts.

2. Payment services through customers' payment accounts are the provision of payment means; implementation of payment services of checks, payment orders, payment authorizations, collections, collection authorizations, bank cards, money transfers, collection, payment and other payment services for customers through customers' payment accounts.

3. Payment service without going through the customer's payment account is the provision of payment services, making payment transactions without going through the customer's payment account.

4. A non-cash payment service provider (hereinafter referred to as a payment service provider) is an organization that is allowed to provide one or several payment services as prescribed in this Decree, including: the State Bank of Vietnam (hereinafter referred to as the State Bank), banks, foreign bank branches, people's credit funds, microfinance institutions and enterprises providing public postal services.

5. An organization providing intermediary payment services is an organization that is not a bank or a branch of a foreign bank and is granted a license by the State Bank to provide intermediary payment services.

6. A public postal service provider is an enterprise designated under the provisions of the Postal Law.

7. Non-cash payment transactions (hereinafter referred to as payment transactions) are the use of payment services to make payments or money transfers by organizations and individuals.

8. International payment is a payment transaction made to a related party that is an organization or individual with a payment account or means of payment issued outside the territory of Vietnam.

9. The payment account holder is the individual who opens the account for an individual's account or the organization that opens the account for an organization's account.

10. Non-cash means of payment (hereinafter referred to as means of payment) are means issued by payment service providers, financial companies licensed to issue credit cards, payment intermediary service providers providing e-wallet services and used by customers to make payment transactions, including: checks, payment orders, payment authorizations, collections, collection authorizations, bank cards (including: debit cards, credit cards, prepaid cards), e-wallets and other means of payment as prescribed by the State Bank.

11. Illegal means of payment are means of payment not specified in Clause 10 of this Article.

12. Electronic money is the value of Vietnamese Dong stored on electronic devices provided on the basis of correspondence with the amount prepaid by customers to banks, foreign bank branches, and payment intermediary service providers providing electronic wallet services.

13. Financial switching service is a service providing technical infrastructure to connect, transmit and process electronic data of domestic payment transactions between payment service providers, financial companies licensed to issue credit cards, and payment intermediary service providers.

14. International financial switching service is the connection to the international payment system to transmit and process electronic data of international payment transactions.

15. Electronic clearing service is a service providing technical infrastructure and operations to receive, compare payment data and calculate the results of receivable and payable amounts after clearing between participating members to make settlement for related parties.

16. E-wallet service is a service provided by banks, foreign bank branches, and payment intermediary service providers to customers to deposit money into e-wallets, withdraw money from e-wallets and make payment transactions.

17. Collection and payment support service is the receiving, processing of electronic data, calculating collection and payment results, canceling collection and payment for customers with payment accounts and bank cards and making payments to related parties.

18. Electronic payment gateway service is a service providing technical infrastructure to connect, transmit and process electronic data of payment transactions made by means of payment between customers, payment acceptance units with banks, foreign bank branches, financial companies licensed to issue credit cards, and organizations providing intermediary payment services.

19. Payment system is a system that includes regulations, means, processes, procedures, and technical infrastructure for processing, switching, clearing, and settling payment transactions.

20. An international payment system is a payment system established abroad and allowing international payment transactions to be made.

21. An important payment system is a payment system that plays a key role in serving the payment needs of economic entities, has the potential to generate systemic risks, and meets at least one of the following criteria:

a) Is the only payment system or accounts for a large proportion of the total payment value of payment systems of the same type; or

b) Is a system that processes high-value payment transactions; or

c) Is a system used for settlement of other payment systems or for transactions in financial markets.

22. Systemic risk is the risk that a member participating in the payment system is unable to fulfill its financial obligations in the payment system when due, leading to other participating members also being unable to fulfill their financial obligations when due, spreading the risk to other payment systems.

23. A joint payment account is a payment account in which at least two or more entities jointly open the account.

Article 4. State management responsibilities of the State Bank regarding non-cash payment activities

1. Issue under authority or submit to competent authorities for issuance legal documents on non-cash payment activities; regulate the management, connection and sharing of data serving non-cash payment activities.

2. Organize, manage, operate and supervise the national payment system; participate in organizing and supervising the operation of other important payment systems in the economy; supervise the provision of payment services and payment intermediary services.

3. Written approval of participation in the international payment system of commercial banks and foreign bank branches.

4. Grant, amend, supplement and revoke the License to operate payment intermediary services of payment intermediary service providers.

5. Approve and revoke documents on payment service provision activities without going through payment accounts of customers of public postal service providers.

6. Inspect, examine and handle according to authority violations of the law on non-cash payment activities of organizations and individuals.

7. Manage international cooperation activities in the field of payment; preside over and coordinate with competent authorities in managing international payment activities.

Article 5. Payment in foreign currency and international payment

1. Payments in foreign currency and international payments must comply with the provisions of this Decree, laws on foreign exchange management, user data protection, network security, tax management, laws on anti-money laundering, anti-terrorism financing, anti-proliferation financing of weapons of mass destruction and international treaties and international agreements on payment to which Vietnam is a party. The application of commercial practices shall comply with Article 3 of the Law on Credit Institutions.

2. Commercial banks and foreign bank branches are allowed to participate in the international payment system after meeting the conditions specified in Article 21 of this Decree.

3. Foreign organizations providing payment services and payment intermediary services to non-resident customers and foreigners residing in Vietnam to make payment transactions for goods and services in Vietnam must do so through commercial banks and foreign bank branches that have been approved by the State Bank to participate in the international payment system of that foreign organization.

4. Financial switching service providers are connected to the international payment system to perform international financial switching services after meeting the conditions specified in Article 22 of this Decree.

5. Payment intermediary service providers (except financial switching service providers) are allowed to provide payment intermediary services to customers to make payment transactions for foreign goods and services; the payment and settlement of such international payment transactions must be made through commercial banks and foreign bank branches that have been approved by the State Bank to conduct foreign exchange activities in the international market.

6. Parties involved in international payment activities are responsible for providing complete, accurate and timely information and meeting the requirements of state management agencies in accordance with the provisions of Vietnamese law.

Article 6. E-wallet, prepaid card

1. E-wallets and prepaid cards are means of storing cryptocurrencies.

2. Banks and foreign bank branches are allowed to issue and supply e-wallets and prepaid cards. The provision, issuance and use of e-wallets and prepaid cards shall comply with the regulations of the State Bank.

3. The organization providing intermediary payment services providing e-wallet services must ensure that the total balance on all payment guarantee accounts for e-wallet services opened at banks and foreign bank branches is not lower than the total balance of all e-wallets issued to customers; only allow the use of the service for e-wallets linked to the customer's own payment account or debit card.

Article 7. Organization, management and operation of the national payment system

1. The State Bank organizes, manages and operates the national payment system to provide payment services to system participants, which are the State Bank, credit institutions, foreign bank branches, and the State Treasury; and performs clearing and settlement of other payment systems.

2. The State Bank regulates the management, operation and safety assurance of the national payment system.

Article 8. Prohibited acts

1. Repairing or erasing payment instruments or payment documents in violation of law; counterfeiting payment instruments or payment documents; storing, circulating, transferring or using counterfeit payment instruments.

2. Intrude or attempt to intrude, steal data, sabotage, illegally change software programs, electronic data used in payment; take advantage of computer network system errors for personal gain.

3. Providing dishonest information related to the provision or use of payment services or payment intermediary services.

4. Disclosing or providing information about payment account balances, bank card balances, e-wallet balances and payment transactions of customers at payment service providers and payment intermediary service providers in violation of relevant laws.

5. Opening or maintaining anonymous or impersonated payment accounts or e-wallets; buying, selling, renting, leasing, borrowing, lending payment accounts or e-wallets; renting, leasing, buying, selling, opening bank cards (except for anonymous prepaid cards); stealing, colluding to steal, buying, selling payment account information, bank card information, e-wallet information.

6. Issuing, supplying and using illegal means of payment.

7. Providing intermediary payment services without being granted a License to provide intermediary payment services by the State Bank. Providing payment services without being a payment service provider.

8. Carry out, organize the carrying out or facilitate the carrying out of the following acts: using, exploiting payment accounts, payment means, payment services, payment intermediary services to gamble, organize gambling, cheat, deceive, conduct illegal business and commit other illegal acts.

9. Erasing, changing the content, buying, selling, transferring, leasing, lending, or counterfeiting the License to operate as a payment intermediary service provider.

10. Entrust or assign agency to other organizations or individuals to perform activities permitted under the License to operate payment intermediary services.

11. Fraud and forgery of documents proving eligibility for a License to operate as a payment intermediary service provider in the License application file.

12. Operating in a manner inconsistent with the provisions of the License to provide intermediary payment services.

13. The payment account holder has a payment account at a payment service provider but provides information or commits not to have a payment account at a payment service provider to the parties with related rights and obligations according to the provisions of law on loan disbursement of credit institutions and foreign bank branches.

Chapter II

OPENING AND USING A PAYMENT ACCOUNT

Section 1. GENERAL PROVISIONS

Article 9. Opening and using payment accounts

The opening and use of customer payment accounts at payment service providers shall comply with the regulations of the State Bank and relevant laws.

Article 10. Use and authorization to use payment accounts

1. Payment account holders are allowed to use their payment accounts to deposit and withdraw cash and request payment service providers to conduct valid payment transactions. Payment account holders have the right to request payment service providers to provide information on transactions and balances on their payment accounts according to the agreement with the payment service provider where the payment account is opened.

2. The payment account holder is authorized to use the payment account. The authorization must be in writing, in accordance with the legal provisions on authorization.

3. The payment account holder is obliged to provide complete and truthful information and comply with the regulations on opening, using and authorizing the use of payment accounts of payment service providers and must ensure that there is enough money (Credit balance) in the payment account to execute the payment order, except in the case of an overdraft loan agreement with the payment service provider.

4. Payment service providers are obliged to fully and promptly execute valid payment orders of payment account holders.

5. The payment service provider has the right to refuse to execute the payment order of the payment account holder when the payment order is invalid or there is a legal basis to determine that the account holder has violated the prohibited acts as prescribed in Article 8 of this Decree or when the payment account does not have enough money, unless otherwise agreed. In case of refusing to execute the payment order of the payment account holder, the payment service provider must notify the payment account holder of the reason for refusal.

Article 11. Blocking of payment accounts

1. The payment account balance is partially or completely blocked in the following cases:

a) According to prior agreement between the payment account holder and the payment service provider or at the request of the account holder;

b) When there is a written decision or request from a competent authority as prescribed by law;

c) When the payment service provider discovers an error or mistake when crediting the customer's payment account or performs a request for refund from the money transfer payment service provider due to an error or mistake compared to the payment order of the remitter after crediting the customer's payment account. The amount blocked on the payment account must not exceed the amount of the error or mistake;

d) When there is a request for blocking by one of the joint payment account holders, except in cases where there is a prior written agreement between the payment service provider and the joint payment account holders.

2. Termination of payment account blocking is carried out:

a) According to written agreement between the payment account holder and the payment service provider;

b) When there is a decision to end the blockade by a competent authority in accordance with the provisions of law;

c) Errors and mistakes in money transfer payments specified in Point c, Clause 1 of this Article have been resolved;

d) Upon request to terminate the blockade by all joint payment account holders or upon prior written agreement between the payment service provider and the joint payment account holders.

3. Payment service providers, payment account holders and competent authorities, if they illegally block or request payment accounts to be blocked, causing damage to payment account holders, shall be responsible for compensation in accordance with the provisions of law.

Article 12. Closing payment accounts

1. Payment account closure is performed when:

a) The payment account owner has requested and fully performed all obligations related to the payment account;

b) The payment account holder is an individual who dies or is declared dead;

c) The organization has a payment account that has ceased operations in accordance with the provisions of law;

d) The payment account owner violates the prohibited acts regarding payment accounts specified in Clause 5 and Clause 8, Article 8 of this Decree.

d) Cases subject to prior written agreement between the payment account holder and the payment service provider;

e) Other cases as prescribed by law.

2. Handling balance when closing payment account:

a) Payment shall be made upon request of the payment account holder or pursuant to a prior agreement between the payment account holder and the payment service provider; in case the account holder is a person without civil act capacity, a person with difficulty in cognition or behavior control, or a person with limited civil act capacity, the payment shall be made upon request of the legal representative or guardian in accordance with civil law provisions; or payment shall be made to the heir or legal heir representative in case the payment account holder is an individual who dies or is declared dead;

b) Payment according to the decision of the competent authority as prescribed by law;

c) Handle according to the provisions of law in cases where the legal beneficiary of the balance on the payment account has been notified but does not come to receive it.

Section 2. OPENING AND USING STATE BANK PAYMENT ACCOUNTS

Article 13. Opening and using payment accounts of the State Bank

1. The State Bank opens payment accounts for the State Treasury, credit institutions, and foreign bank branches in accordance with the provisions of the Law on the State Bank and the Law on Credit Institutions.

2. The State Bank opens accounts for central banks of countries, foreign banks, international monetary organizations, and international banks in accordance with international treaties and agreements to which Vietnam is a member. In cases where Vietnam is not a member, the opening of payment accounts shall be carried out in accordance with the decision of the Prime Minister.

3. The State Bank opens payment accounts and conducts transactions on payment accounts at foreign banks, international monetary organizations, and international banks. The State Bank opens payment accounts at central banks of countries, opens payment accounts and conducts payment transactions abroad in accordance with international treaties and agreements to which Vietnam is a member.

Article 14. Records and procedures for opening and closing payment accounts at the State Bank of credit institutions, foreign bank branches and the State Treasury

1. Principles for preparing and submitting documents:

a) The dossier must be prepared in Vietnamese. If the documents in the dossier for opening a payment account are in a foreign language, they must be translated into Vietnamese and notarized and certified in accordance with the provisions of law;

b) Copies of papers and documents in the payment account opening and closing dossier must be certified copies or copies issued from the original book or copies accompanied by the original for comparison according to the provisions of law. In case the dossier is submitted online, it must comply with the regulations on administrative procedures in the electronic environment;

c) The dossier is sent by post (postal service) or submitted directly to the One-Stop Department of the State Bank where the organization requests to open a payment account or online at the State Bank Public Service Portal or the National Public Service Portal;

d) The organization requesting to open or close a payment account is fully responsible before the law for the accuracy and honesty of the information provided.

2. Documents to open a payment account at the State Bank, including:

a) Application for opening a payment account with registration of seal and signature sample according to Form No. 01 issued with this Decree, signed and sealed by the legal representative or authorized representative of the organization opening the payment account;

b) Documents proving that the organization opening the payment account is legally established and operating, including: establishment decision, operating license, business registration certificate, cooperative registration certificate or equivalent documents;

c) Documents proving the representative status of the legal representative or authorized representative of the organization opening the payment account and the identity card, citizen identification card, electronic identification card or valid identity card or passport of that person;

d) Appointment document or decision and valid identity card, citizen identification card, electronic identification card or identity card or passport of the chief accountant or person in charge of accounting, person controlling transaction documents with the State Bank of the organization opening the payment account.

3. Procedures for opening a payment account:

a) When there is a need to open a payment account at the State Bank, the organization requesting to open a payment account shall submit 01 set of documents to open a payment account as prescribed in Clause 2 of this Article to the State Bank (Transaction Office, State Bank branch in the province or city) where the request to open a payment account is made;

b) Upon receiving the application for opening a payment account, the State Bank shall check the application components and compare them with the elements declared in the application for opening a payment account, ensuring correctness and accuracy.

In case the payment account opening dossier is incomplete, invalid or there is a discrepancy between the declared elements in the payment account opening application and the relevant documents in the dossier, within 01 working day from the date of receiving the payment account opening dossier, the State Bank shall notify the organization requesting to open the account to complete the dossier.

Within 05 working days from the date of receiving the State Bank's written request for additional documents and completion of the dossier, if the organization requesting to open an account does not send additional documents and completion of the dossier, the State Bank will issue a written refusal to open a payment account and return the dossier to the organization requesting to open an account;

c) Within 02 working days from the date of receiving the complete and valid payment account opening dossier of the organization requesting to open a payment account, the State Bank must process the opening of a payment account for the organization. In case the State Bank refuses to open a payment account, it must notify the organization in writing of the reason.

4. Procedures for closing payment accounts:

a) Credit institutions, foreign bank branches, and the State Treasury that wish to close payment accounts at the State Bank must prepare an application to close the payment account and request the settlement of the payment account balance (if any) according to Form No. 02 issued with this Decree, signed and sealed by the legal representative of the organization, and sent to the State Bank (where the payment account is opened);

b) Upon receiving a request to close a payment account, the State Bank shall check and compare the information on the request with the account information and process the balance on the payment account as requested by the account holder (if any). After completing the processing of the remaining balance on the payment account, the State Bank shall close the payment account;

c) Within 02 working days from the date of receipt of the request to close the payment account from the organization opening the payment account, the State Bank must process the payment account closure;

d) In case of closing a payment account as prescribed in Points c, d, dd, Clause 1, Article 12 of this Decree, the remaining balance in the payment account (if any) after completing obligations to related parties shall be handled upon written request of the account holder before the decision to revoke the Establishment and Operation License is made, according to the decision of the competent state agency or according to relevant legal provisions. After closing the payment account, within 05 working days, the State Bank shall notify the account opening organization in writing.

Section 3. OPENING AND USING PAYMENT ACCOUNTS AT CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES

Article 15. Opening and using payment accounts between credit institutions and foreign bank branches

1. The opening of payment accounts between credit institutions and foreign bank branches must comply with the provisions of the Law on Credit Institutions. Payment accounts opened between credit institutions and foreign bank branches shall only serve the purpose of payment and shall not be used for lending, overdrafting or other purposes.

2. Credit institutions and foreign bank branches licensed to conduct foreign exchange activities may open foreign currency payment accounts at other licensed credit institutions. The opening and use of foreign currency payment accounts shall comply with the provisions of the law on foreign exchange.

Article 16. Opening payment accounts for customers who are not credit institutions

1. Banks and foreign bank branches shall guide customers in opening payment accounts in accordance with the regulations of the State Bank and other relevant legal regulations.

2. The joint payment account holder is an organization or individual. The purpose of using the joint payment account, the rights and obligations of the joint payment account holders and the regulations related to the use of the joint payment account must be clearly defined in writing and in accordance with the legal regulations on opening and using payment accounts.

Chapter III

CASHLESS PAYMENT SERVICES

Section 1. PAYMENT SERVICES VIA CUSTOMER'S PAYMENT ACCOUNT

Article 17. Payment services via customer payment accounts

1. Payment services via customer payment accounts, including:

a) Providing means of payment;

b) Payment services: checks, payment orders, payment authorizations, collection orders, collection authorizations, bank cards, money transfers, collection and payment;

c) Other payment services are performed according to regulations of the State Bank.

2. Organizations providing payment services through customers' payment accounts:

a) The State Bank provides payment services to customers who open payment accounts at the State Bank;

b) Commercial banks, foreign bank branches, and policy banks provide all payment services specified in Clause 1 of this Article;

c) Cooperative banks are allowed to provide a number of payment services specified in Clause 1 of this Article after being recorded in the Establishment and Operation License issued by the State Bank.

3. The provision of payment services through customers' payment accounts is carried out in accordance with the regulations of the State Bank.

Section 2. PAYMENT SERVICES NOT THROUGH THE CUSTOMER'S PAYMENT ACCOUNT

Article 18. Payment services not through customer payment accounts

1. Payment services without going through the customer's payment account, including:

a) Provide payment services: money transfer, collection, payment;

b) Other payment services not through accounts are implemented according to regulations of the State Bank.

2. Organizations that are provided with payment services without going through customers' payment accounts:

a) Commercial banks, foreign bank branches, policy banks;

b) Cooperative banks are allowed to provide a number of payment services not through customers' payment accounts after being recorded in the Establishment and Operation License issued by the State Bank;

c) People's credit funds are allowed to provide money transfer services, perform collection and payment services for members and customers of that people's credit fund after being recorded in the License for establishment and operation issued by the State Bank;

d) Microfinance institutions are allowed to provide money transfer, collection and payment services to customers of microfinance institutions after being recorded in the Establishment and Operation License issued by the State Bank;

d) Enterprises providing public postal services are allowed to provide money transfer, collection and payment services after meeting the conditions specified in Article 19 of this Decree and receiving written approval from the State Bank.

3. The provision of payment services without going through the customer's payment account is carried out in accordance with the regulations of the State Bank.

Article 19. Conditions for providing payment services without going through payment accounts of customers of public postal service providers

Enterprises providing public postal services are allowed to provide payment services without going through customers' payment accounts when fully meeting and ensuring the maintenance of the following conditions during the process of providing payment services without going through customers' payment accounts:

1. Have an information system serving the provision of payment services without going through customers' payment accounts that meets the requirements of ensuring level 3 information system security as prescribed by law.

2. Personnel requirements: Legal representative, General Director (Director), Person in charge of providing payment services without going through payment accounts of customers of public postal service providing enterprises must have a university degree or higher in one of the following fields: economics, business administration, law, information technology.

Key staff providing payment services not through customers' payment accounts (including Department (Office) Heads or equivalent and technical staff) must have a college degree or higher in one of the following fields: economics, business administration, law, information technology or specialized fields.

3. Have technical business processes for each type of service; have measures to ensure payment capacity, maintain the balance of the unit's payment account at the bank and cash greater than the amount payable to the customer at the time of payment; internal inspection and control processes; risk management mechanisms; general principles and internal regulations on preventing and combating money laundering, terrorist financing and financing of proliferation of weapons of mass destruction; processes and procedures for handling requests for verification, complaints and disputes; regulations on the rights and responsibilities of relevant parties.

4. Have a plan to collect and transport cash to ensure that it is deposited into a payment account opened at the bank at the end of the day, ensuring security and safety for cash circulation; equip equipment to ensure the delivery and preservation of cash, regulate limits on money transfer, receipt, and cash balance at service points; ensure fire prevention and fighting work according to the provisions of law.

Article 20. Records, processes and procedures for written approval and withdrawal of documents on the provision of payment services without going through payment accounts of customers of public postal service providers

1. The application file for approval to provide payment services without going through the customer's payment account includes:

a) Application for providing payment services without going through the customer's payment account according to Form No. 03 issued with this Decree;

b) Resolution of the Board of Members, document of the authorized representative of the owner in accordance with the authority prescribed in the Company Charter on approving the Explanation of conditions for providing payment services without going through the customer's payment account;

c) Explanation of conditions for providing payment services without going through customers' payment accounts as prescribed in Article 19 of this Decree;

d) Personnel records: CV, certified copy or copy issued from the original book or copy with presentation of original for comparison of certificates proving the capacity and professional qualifications of the legal representatives, General Director (Director), Person in charge and key officers providing this service;

d) Establishment license or business registration certificate or equivalent document issued by a competent state agency, Company charter (certified copy or copy issued from the original or copy with presentation of the original for comparison).

2. Approval process and procedures:

a) Enterprises providing public postal services shall send 03 sets of documents requesting the provision of payment services without going through customers' payment accounts as prescribed in Clause 1 of this Article by post (postal service) or submit them directly to the State Bank's One-Stop Department or online at the State Bank's Public Service Portal or the National Public Service Portal (documents submitted online shall comply with the regulations on administrative procedures in the electronic environment). Enterprises providing public postal services shall be fully responsible before the law for the accuracy and truthfulness of the information provided.

Based on the application dossier, the State Bank shall appraise the dossier on the basis of the conditions specified in Article 19 of this Decree;

b) Within 05 working days from the date of receiving the application dossier, the State Bank shall send a written request to the public postal service provider to confirm receipt of all valid or incomplete application components, as prescribed.

In case the application dossier is not complete and valid according to regulations, the State Bank shall send a written request to the enterprise to supplement and complete the dossier. The time for the enterprise to supplement and complete the dossier shall not be included in the appraisal time.

c) Within 60 working days from the date of receipt of complete and valid dossiers, the State Bank shall appraise the dossiers. If after 60 days from the date the State Bank issues a written request to supplement and complete the dossiers, but the enterprise requests not to send additional dossiers or after 02 submissions the dossiers still do not meet the conditions, the State Bank shall issue a written refusal to accept and return the dossiers to the enterprise providing public postal services.

Within 60 working days from the date of receiving the supplementary and completed dossier of the public postal service provider, the State Bank shall conduct appraisal and approval in writing as prescribed. In case of disapproval, the State Bank shall reply in writing to the enterprise, stating the reasons.

3. The validity period of the approval document is 10 years from the date of signing the approval document of the State Bank. In case of extending the validity of the approval document for the provision of payment services without going through the customer's payment account, at least 60 days before the approval document expires, the enterprise is requested to submit 03 sets of documents requesting approval for the extension of the document, including: an application for providing payment services without going through the customer's payment account according to Form No. 03 issued with this Decree; a report on the implementation of activities according to the approval document from the date of approval to the date of submitting the application and a copy of the effective approval document to the State Bank.

Within 30 working days from the date of receipt of the enterprise's application for extension of approval document, the State Bank will review and extend the document or issue a written notice of refusal stating the reasons.

The term of extension of the approval document is 10 years from the date the enterprise is granted an extension of the document by the State Bank.

4. Revoke the written approval for the provision of payment services without going through the customer's payment account in the following cases:

a) Enterprises approved in writing by the State Bank to provide payment services without going through customers' payment accounts are dissolved or bankrupt in accordance with the provisions of law;

b) Enterprises approved in writing by the State Bank to provide payment services without going through customers' payment accounts have a request to revoke the written approval due to termination of the provision of payment services without going through customers' payment accounts according to Form No. 05 issued with this Decree;

c) When there is a judgment, decision on execution of judgment, decision on administrative sanction of competent state agency, criminal judgment enforcement agency with content requesting to revoke the written approval of the enterprise providing public postal services or there is a written request from competent state agency, criminal judgment enforcement agency requesting to revoke the written approval of the enterprise providing public postal services;

d) Enterprises approved in writing by the State Bank to provide payment services without going through customers' payment accounts that violate the prohibited acts in Clause 8, Article 8 of this Decree;

d) After a period of 03 months from the date the State Bank issues a written notice to the organization that it has violated one of the conditions in the process of providing services specified in Article 19 and must take remedial measures, but the enterprise fails to do so;

e) Activities not in accordance with the State Bank's approval on providing payment services without going through customers' payment accounts;

g) During the process of inspection, examination and supervision of the provision of payment services without going through the customer's payment account, it is discovered that for a period of 06 consecutive months, the enterprise has not provided payment services without going through the customer's payment account.

5. Process and procedures for reviewing and revoking or withdrawing documents approving the provision of payment services without going through payment accounts of customers of public postal service providers:

a) In case an enterprise is dissolved or bankrupt as prescribed in Point a, Clause 4 of this Article, the enterprise shall notify the State Bank in writing within 07 working days from the date of approval of the Decision on Enterprise Dissolution as prescribed in the Law on Enterprises or the date of receipt of the Decision on Bankruptcy Declaration of the People's Court as prescribed in the Law on Bankruptcy. After 10 working days from the date of receipt of the enterprise's written notification, the State Bank shall issue a decision to revoke the written approval.

After 10 working days from the date the State Bank receives the request to revoke the written approval for the provision of payment services without a payment account of the customer as prescribed in Point b, Clause 4 of this Article, the State Bank shall issue a decision to revoke the written approval.

After 10 working days from the date of occurrence of one of the cases specified in Point c, Point d, Point dd, Clause 4 of this Article, the State Bank shall issue a decision to revoke the approval document;

b) When an enterprise shows signs of violating one of the cases stated in Point e and Point g, Clause 4 of this Article, the State Bank shall issue a notice and request the enterprise to explain.

After 15 working days from the date the State Bank issues the notice but the approved enterprise does not have a written explanation or the explanation is not valid, the State Bank shall consider issuing a decision to revoke the approval document.

6. Immediately upon receiving the State Bank's Decision on the revocation of the approval document, the enterprise whose approval document is revoked must immediately stop providing payment services without going through the customer's payment account.

Within 30 days from the date of the State Bank's decision to revoke the approval document, the enterprise must send a written notice to relevant organizations and individuals to liquidate the contract and complete the obligations and responsibilities between the parties in accordance with the law.

When the enterprise has completed the obligations and responsibilities between the parties as prescribed by law, after a period of 03 years from the date the enterprise's written approval is revoked in the case specified in Clause 4 (except Point a Clause 4) of this Article, the enterprise is requested to provide payment services without going through the customer's payment account as prescribed in Article 19 of this Decree. The process, procedures and documents shall comply with the provisions in Clause 1 and Clause 2 of this Article.

Section 3. PARTICIPATION IN THE INTERNATIONAL PAYMENT SYSTEM

Article 21. Conditions for participation in the international payment system of commercial banks and foreign bank branches

1. Licensed to conduct basic foreign exchange operations in the domestic and international markets.

2. Have policies and procedures for managing risks of money laundering, terrorist financing, and proliferation of weapons of mass destruction that meet the requirements of the law on preventing and combating money laundering, terrorist financing, and proliferation of weapons of mass destruction when participating in the international payment system.

3. Have an information system that meets the requirements for administration, safety, and security according to Vietnamese law; have internal regulations on standards for selecting connections to international payment systems.

4. Organizations operating international payment systems are established and legally operate abroad.

Chapter IV

PAYMENT INTERMEDIARY SERVICES

Article 22. Payment intermediary services and service provision conditions

1. Payment intermediary services include: financial switching services, international financial switching services, electronic clearing services, electronic wallet services, collection and payment support services and electronic payment gateway services. The provision of payment intermediary services is carried out in accordance with the regulations of the State Bank.

2. Conditions for providing payment intermediary services:

An organization that is not a bank or a branch of a foreign bank is granted a License by the State Bank to operate as a payment intermediary service provider when it fully meets and must ensure that it maintains the following conditions during the process of providing payment intermediary services, specifically as follows:

a) Have a license to establish or a certificate of business registration issued by a competent state agency and are not in the process of division, separation, consolidation, merger, conversion, dissolution, or bankruptcy according to a decision issued during the process of applying for a License to operate as a payment intermediary service provider; in the case of providing financial switching services or electronic clearing services, the organization must ensure that it does not conduct business in other industries other than providing payment intermediary services;

b) Have a minimum contributed or granted charter capital of: VND 50 billion for e-wallet services, collection and payment support services and electronic payment gateway services; VND 300 billion for financial switching services, international financial switching services, electronic clearing services; take full responsibility for the legality of the contributed or granted capital;

c) Have a payment intermediary service provision project approved by a competent authority as prescribed in the organization's Charter according to Form No. 08 issued with this Decree;

d) Personnel requirements: The legal representative and General Director (Director) of the organization must have a university degree or higher in one of the following fields: economics, business administration, law, information technology and at least 05 years of experience as a manager or operator of an organization in the field of finance and banking and must not be among those prohibited by law; must ensure that there is always at least one legal representative residing in Vietnam (When there is only one legal representative residing in Vietnam, this person, when leaving Vietnam, must authorize in writing another individual residing in Vietnam to exercise the rights and obligations of the legal representative. In this case, the legal representative is still responsible for exercising the authorized rights and obligations).

The Deputy General Director (Deputy Director) and key officers implementing the Payment Intermediary Service Provision Project (including Head of Department (Office) or equivalent and technical officers) have a college degree or higher in one of the following fields: economics, business administration, law, information technology or specialized field;

d) Have a Technical Solution Explanation for the provision of payment intermediary services for which a License is requested to be granted by a competent authority as prescribed in the Charter of the approving organization, meeting the requirements for ensuring level 3 information system security as prescribed by law;

e) For e-wallet services and collection and payment support services for customers with accounts at many banks and foreign bank branches, the service provider must be licensed by a financial switching service provider and electronic clearing service provider licensed by the State Bank to perform financial transaction switching and clear obligations arising during the process of providing intermediary payment services of the organization;

g) For financial switching services and electronic clearing services, in addition to the conditions specified in Points a, b, c, d and dd, Clause 2 of this Article, the service provider must: have an organization to perform the settlement of clearing results between related parties; have an agreement to connect with at least 50 banks and foreign bank branches with a total charter capital in the year immediately preceding the year of submitting the application for a License accounting for over 65% of the total charter capital of banks and foreign bank branches in the system of credit institutions and at least 20 organizations providing intermediary payment services; have an information infrastructure that meets at least the requirements for ensuring level 4 information system security as prescribed by law, ensuring the ability to integrate and connect with the technical system of participating organizations with connection agreements; have a server system that complies with legal regulations and has the capacity to process at least 10 million payment transactions/day;

Participating organizations are not allowed to connect with more than 02 organizations providing financial switching services and electronic clearing services;

h) For international financial switching services, the service provider must have a valid License to operate a financial switching intermediary payment service; be established by an organization to settle the clearing results between related parties; have internal regulations on standards for selecting connections between international payment systems to perform financial switching of international payment transactions; have internal regulations on technical business processes for international financial switching services requesting a license and the organization operating the international payment system connected to the organization providing the international financial switching service must be established and legally operating abroad.

3. Within a maximum period of 06 months from the date of being granted a License to provide payment intermediary services by the State Bank, the licensed organization must provide payment intermediary services to the market and is only allowed to provide payment intermediary services to the market after deploying a technical system that meets the provisions in Point d, Clause 2 of this Article, and meets the provisions in Point g and Point h, Clause 2 of this Article for financial switching services, electronic clearing services, and international financial switching services.

Article 23. Principles for preparing and submitting application dossiers for granting, re-granting, amending, supplementing and revoking Licenses for providing payment intermediary services

1. The documents must be prepared in Vietnamese. In case the documents are issued, notarized or certified by a competent foreign agency or organization, they must be consularly legalized in accordance with the provisions of Vietnamese law (except for cases exempted from consular legalization in accordance with the provisions of law on consular legalization) and translated into Vietnamese.

2. Copies of records and documents must be certified copies or copies issued from the original book or copies accompanied by the original for comparison according to the provisions of law. In case the records are submitted online, it must comply with the regulations on administrative procedures in the electronic environment.

3. Self-made personal CV with certified signature according to the provisions of law.

4. The dossier is sent by post (postal service) or submitted directly to the State Bank's One-Stop Department or online at the State Bank's Public Service Portal or the National Public Service Portal.

5. The organization requesting to grant, re-grant, amend, supplement or revoke a License must take full responsibility before the law for the accuracy and truthfulness of the information provided.

Article 24. Granting of License to operate payment intermediary service provision

1. The State Bank shall grant a License to operate as a payment intermediary service provider as prescribed in Clause 1, Article 22 of this Decree to an organization requesting a License to operate as a payment intermediary service provider.

2. Application for a License to operate as a payment intermediary service provider:

a) Application for a License according to Form No. 07 issued with this Decree;

b) Resolution of the Board of Members, Board of Directors, General Meeting of Shareholders, document of the authorized representative of the owner in accordance with the authority prescribed in the Company Charter on the approval of the Project on providing intermediary payment services and Technical solution explanation;

c) Project for providing payment intermediary services according to Form No. 08 issued with this Decree;

d) Technical solution description;

d) Personnel records: CV according to Form No. 09 issued with this Decree, copies of certificates proving the capacity and professional qualifications of the legal representative, General Director (Director), Deputy General Director (Deputy Director) and key officers implementing the Project on providing payment intermediary services; criminal record or equivalent document of the legal representative, General Director (Director) according to the provisions of law (not more than 06 months before the time of submitting the application for a License); document of the authorized representative of the unit where the legal representative, General Director (Director) has worked or is working confirming the position and time holding the position or a copy of the document proving the position and time holding the position at the unit of the legal representative, General Director (Director);

e) Copies of documents proving that the organization requesting the License is legally established and operating, including: establishment license or business registration certificate or equivalent documents; Charter of organization and operation of the organization; investment certificate of foreign investors (if any);

g) Commitment documents and supporting documents of the owner, founding members, and founding shareholders of the organization regarding ensuring the maintenance of the actual value of the charter capital;

h) For financial switching services and electronic clearing services: a plan for an organization to carry out the settlement of clearing results between related parties as prescribed in Form No. 08 issued with this Decree; a written agreement on connection with participating organizations, with a commitment not to connect more than 02 organizations providing financial switching services and electronic clearing services; documents proving that the information infrastructure and server system meet the provisions in Point g, Clause 2, Article 22 of this Decree;

i) For international financial switching services: Internal regulations on standards for selecting international payment systems to connect and perform financial switching of international payment transactions; internal regulations on business processes with risk management measures for international financial switching services for which licensing is requested; copies of documents proving that the organization operating the international payment system is established and legally operating abroad, issued by the competent authority of the country or territory where the organization is established or has its headquarters; a plan for an organization to carry out the settlement of clearing results between related parties as prescribed in Form No. 08 issued with this Decree.

3. Procedures for granting License

In case the application is sent by post (postal service) or submitted directly to the State Bank's One-Stop Department, the organization requesting the issuance of a License shall send 02 sets of documents and 06 CDs (or 06 USBs) storing scanned copies of the complete set of documents requesting the issuance of a License as prescribed in Clause 2 of this Article. Based on the application for the issuance of a License, the State Bank shall coordinate with relevant ministries and agencies to appraise the documents based on the conditions prescribed in Clause 2, Article 22 of this Decree.

a) Within 05 working days from the date of receipt of the application for a License, the State Bank shall send a written notice to the organization confirming that it has received all valid application components. In case the application components are not complete and valid, the State Bank shall send a written notice to the organization requesting to supplement and complete the application components. The time for supplementing and completing the application components shall not be included in the application appraisal time.

Within 60 days from the date the State Bank issues a written request to supplement the dossier but the organization requesting the License does not return the dossier or the organization's supplementary dossier does not meet the requirements, the State Bank shall issue a written request to return the dossier to the organization;

b) Within 90 working days from the date of receipt of complete and valid dossiers, the State Bank shall appraise the dossiers. Within 60 days from the date the State Bank issues a written request for explanation and completion of the dossiers, if the organization fails to return the dossiers, the State Bank shall issue a written return of the dossiers to the organization.

Within 90 working days from the date of receiving the organization's supplementary and completed dossier, the State Bank shall conduct an appraisal and issue a License in accordance with regulations. In case the License is not issued, the State Bank shall reply in writing to the organization, stating the reasons;

c) From the date the State Bank receives all valid application components, the organization requesting the License may submit additional documents and complete the application up to 02 times; the time limit for submitting additional documents and complete documents by the organization shall not exceed 60 days from the date the State Bank sends a written confirmation to the organization that it has received all valid application components.

4. Process and procedures for implementing activities after being granted a License

At least 30 working days before the expected date of providing intermediary payment services to the market and no more than 06 months from the date of being granted a License by the State Bank, the organization that has been granted a License to provide intermediary payment services by the State Bank must notify and provide documents proving to the State Bank that: The technical system meets the conditions specified in Point d, Clause 2, Article 22 of this Decree; a copy of the Minutes of technical acceptance of licensed intermediary payment services with a cooperating bank for e-wallet services, collection and payment support services and electronic payment gateway services according to Form No. 10 issued with this Decree; documents proving that an organization performs settlement of clearing results between related parties for financial switching services, electronic clearing services, international financial switching services meeting the conditions specified in Point g, Point h, Clause 2, Article 22 of this Decree.

Within 15 working days from the date of receipt of complete dossiers and documents, the State Bank shall conduct an on-site inspection at the payment intermediary service provider and issue a written notice of compliance or non-compliance with the provisions in Points d, g and h, Clause 2, Article 22 of this Decree. In case of non-compliance, the State Bank shall consider revoking the License to operate as a payment intermediary service provider in accordance with the provisions in Point e, Clause 1, Article 27 of this Decree.

5. License Term

The term of operation stated on the License is 10 years from the date the organization is granted the License by the State Bank. For international financial switching services, the term of operation must not exceed the term of operation stated on the License for providing financial switching services.

Article 25. Re-issuance of License to operate payment intermediary service provision

The State Bank shall re-issue the License to operate payment intermediary services in the following cases:

1. License Expiration

At least 60 days before the expiry date of the License, the payment intermediary service provider must submit a dossier requesting the re-issuance of the License to the State Bank. In case the dossier is sent by post (postal service) or submitted directly to the One-Stop Department of the State Bank, the payment intermediary service provider must submit 03 sets of dossier requesting the re-issuance of the License, including: an application for the re-issuance of the License according to Form No. 11 issued with this Decree, a report on the implementation of activities under the License from the date of issuance of the License to the date of submitting the application for the re-issuance of the License and a copy of the valid License to the State Bank.

Within 30 working days from the date of receipt of the organization's application for re-issuance of the License, the State Bank will consider re-issuing the License or issue a written notice of refusal stating the reasons;

The term of operation stated on the License is 10 years from the date the organization is re-issued the License by the State Bank.

2. License is lost, torn, burned or destroyed in any other form

The organization providing payment intermediary services shall submit an application for re-issuance of the License according to Form No. 11 issued with this Decree, clearly stating the reasons. Within 10 working days from the date of receipt of the organization's application for re-issuance of the License, the State Bank shall consider re-issuing the License or issue a written notice of refusal, clearly stating the reasons;

The term of operation stated on the License shall remain the same as the term of operation on the License which has been lost, torn, burned or otherwise destroyed.

Article 26. Amendment and supplementation of the License to operate payment intermediary services

1. In case of changing one of the contents specified in the License to operate the payment intermediary service provision as follows: name of the organization, location of the head office, stopping the provision of one or several licensed payment intermediary services, connecting to the international payment system of the organization providing international financial switching services:

a) The organization providing payment intermediary services shall submit 01 set of documents requesting amendments and supplements to the License, including: an application for amendments and supplements to the License for providing payment intermediary services according to Form No. 12 issued with this Decree; a copy of the valid License for providing payment intermediary services; a copy of the business registration certificate with the changed business name, the investment registration certificate for foreign investors (if any); a report on the implementation of payment intermediary services from the date of issuance of the License to the date of submission of the application for amendments and supplements to the License.

In case of requesting to connect to additional international payment systems, the international financial switching service provider shall supplement the documents specified in Point i, Clause 2, Article 24 of this Decree;

b) The State Bank shall receive and consider the validity of the application for amendment or supplement to the License within 05 working days from the date of receipt of the application and decide to amend or supplement the License for providing intermediary payment services within 30 working days from the date of receipt of a complete and valid application. In case of refusal to amend or supplement the License, the State Bank shall reply in writing to the organization stating the reasons;

c) The term of operation stated on the amended or supplemented License shall not exceed the term of operation stated on the License for providing intermediary payment services;

d) For payment intermediary services that are proposed to be discontinued, the payment intermediary service provider must cease providing the service after the State Bank amends or supplements the License and within 30 days from the date the State Bank amends or supplements the License, the payment intermediary service provider must send a written notice to relevant organizations and individuals to liquidate the contract and complete the obligations and responsibilities between the relevant parties in accordance with the provisions of law.

2. In case of change of one of the following contents: legal representative, change of charter capital, change of ownership ratio of charter capital of the owner; division, separation, consolidation, merger, conversion of enterprise, during the validity period of the License, the organization providing intermediary payment services does not have to carry out procedures to request amendments or supplements to the License but must send a written notice to the State Bank and documents proving relevant information (if any) within 30 days from the date of the above changes.

Article 27. Revocation of License to operate payment intermediary service provision

1. The State Bank shall consider revoking the License in one of the following cases:

a) The payment intermediary service provider is dissolved or bankrupt according to the provisions of law;

b) The payment intermediary service provider has a request to revoke the License due to termination of the licensed payment intermediary service provision activities according to Form No. 15 issued with this Decree;

c) When the judgment, decision on execution of judgment, decision on administrative sanction of competent state agency, criminal enforcement agency comes into effect with the content of requesting to revoke the License of the organization providing intermediary payment services or there is a written request from competent state agency, criminal enforcement agency to revoke the License of the organization providing intermediary payment services;

d) Payment intermediary service providers use or take advantage of payment accounts, payment means, payment services, and payment intermediary services to gamble, organize gambling, commit fraud, conduct illegal business, launder money, finance terrorism, or finance the proliferation of weapons of mass destruction;

d) After a period of 03 months from the date the State Bank issues a written notice to the organization that it has violated one of the conditions in the service provision process specified in Point a, Point b, Point c, Point d, Point e, Point g, Clause 2, Article 22, the technical system does not meet the provisions in Point d, Clause 2, Article 22 of this Decree and must take remedial measures but the organization fails to do so;

e) The payment intermediary service provider does not comply with the provisions in Clause 3, Article 22 of this Decree, cannot provide supporting documents or the supporting documents do not comply with the provisions in Clause 4, Article 24 of this Decree and after 03 months from the date the State Bank issues a written notice requesting the organization to take remedial measures but the organization fails to remedy the situation;

g) During the process of inspection, examination and supervision of payment intermediary service provision activities, it is discovered that for a period of 06 consecutive months, the organization does not provide licensed payment intermediary service provision activities to customers;

h) Payment intermediary service providers repeatedly report dishonestly the balance and number of e-wallets as prescribed.

2. Procedures for revoking a License

a) In case an organization is dissolved or bankrupt as prescribed in Point a, Clause 1 of this Article, the organization shall submit a request for revocation of the License according to Form No. 15 issued with this Decree to the State Bank within 07 working days from the date of approval of the Decision on enterprise dissolution as prescribed in the Law on Enterprises or the date of receipt of the Decision on bankruptcy declaration of the People's Court as prescribed by the law on bankruptcy. After 10 working days from the date of receipt of the organization's notification, the State Bank shall issue a Decision to revoke the License.

After 10 working days from the date the State Bank receives the application for revocation of the License due to termination of payment intermediary service provision activities of the payment intermediary service provider specified in Point b, Clause 1 of this Article, the State Bank shall issue a decision to revoke the License.

After 20 working days from the date of occurrence of one of the cases specified in Point c, Point d, Point dd, Point e, Clause 1 of this Article, the State Bank shall issue a decision to revoke the License.

b) When an organization providing intermediary payment services shows signs of violating the cases specified in Point g and Point h, Clause 1 of this Article, the State Bank shall consider revoking the License and issue a notice requesting the organization to explain.

After 20 working days from the date of the State Bank's announcement, if the licensed organization does not have a written explanation or the explanation is not valid, the State Bank shall issue a decision to revoke the License.

3. Immediately upon receiving the State Bank's Decision on License revocation, the organization whose License is revoked must immediately stop providing payment intermediary services.

Within 30 days from the date of the State Bank's Decision on License revocation, the organization whose License is revoked must send a written notice to relevant organizations and individuals to liquidate the contract and complete the obligations and responsibilities between the parties in accordance with the law.

When the organization whose License is revoked has completed the obligations and responsibilities between the parties as prescribed by law, after a period of 03 years from the date the organization's License is revoked in the case specified in Clause 1 of this Article, the organization shall be requested to be granted a License to operate as a payment intermediary service provider as prescribed in Article 22 of this Decree. The process, procedures and dossier for requesting a License shall be implemented in accordance with the provisions of Article 23 and Article 24 of this Decree.

Article 28. Responsibility for coordinating the issuance, re-issuance, amendment, supplementation and revocation of Licenses for providing payment intermediary services

1. Responsibility for coordination during the appraisal process

a) The State Bank shall send a written request for opinions from the Ministry of Public Security and relevant agencies on the compliance with relevant legal provisions of the organization and the organization's legal representative during the period of operation before being considered for granting, re-granting, amending, supplementing and revoking the License as prescribed in Article 24, Clause 1, Article 25, Clause 1, Article 26, Point d, Point g, Clause 1, Article 27 of this Decree;

b) Within 15 working days from the date of receipt of the document from the State Bank, the relevant ministries and agencies at Point a of this Clause shall send their written comments to the State Bank;

c) The State Bank considers granting, re-granting, amending, supplementing and revoking Licenses based on the records and opinions of relevant ministries and agencies.

2. The State Bank shall publicly announce the issuance, re-issuance, amendment, supplementation and revocation of the License to provide payment intermediary services of the payment intermediary service provider on the State Bank's electronic information portal. The payment intermediary service provider must publicly announce the License, Decision to amend, supplement and Decision to revoke the License to operate on the official electronic information page of that organization for customers to know.

Chapter V

RESPONSIBILITIES OF RELATED PARTIES

Article 29. Ensuring safety and security in payment

1. Payment service providers and payment intermediary service providers must apply measures to ensure safety and security in payments in accordance with the provisions of law and are required to prescribe measures to ensure safety in payment activities in accordance with relevant legal provisions. Customers using the service are obliged to comply with measures to ensure safety and security in payments in accordance with the provisions and instructions of service providers.

2. Payment service providers and payment intermediary service providers must have measures to inspect and monitor payment acceptance units to detect and resolve or request competent state agencies to handle violations of payment activities in accordance with the provisions of law.

3. Payment service providers and payment intermediary service providers must have measures to manage risks and prevent the use and abuse of the provision of payment means, payment services, and payment intermediary services for gambling, organizing gambling, conducting fictitious payment transactions (payment transactions for goods and services without the purchase or sale of goods or provision of services) or other illegal acts.

4. Payment intermediary service providers and related organizations and individuals are obliged to provide full information, documents and certificates as prescribed by payment service providers when making foreign currency and international payments as prescribed in Clause 3 and Clause 5, Article 5 of this Decree and are responsible before the law for the authenticity of the documents and certificates presented. Payment service providers must apply measures to review, check and retain documents and certificates related to actual transactions to ensure that foreign currency and international payments are made for the right purposes and in accordance with the provisions of law.

Article 30. Right to information and reporting

1. The State Bank has the right to request payment service providers and payment intermediary service providers to provide information related to the provision of services periodically and suddenly; the provision of this information shall be carried out in accordance with the regulations of the State Bank.

2. Payment service providers and payment intermediary service providers have the right to request customers using the service to provide relevant information when using their services.

Article 31. Obligations regarding information and reporting

1. Payment service providers and payment intermediary service providers are obliged to report and provide information to competent state agencies as prescribed by law.

2. Payment service providers and payment intermediary service providers are obliged to provide information on transactions and balances on payment account holders' accounts, transactions and balances on e-wallets of e-wallet holders according to agreements with payment account holders and e-wallet holders.

Article 32. Information security

1. Right to refuse to provide information

Payment service providers and payment intermediary service providers have the right to refuse requests from other organizations and individuals to provide information related to accounts, transactions and balances on accounts, e-wallets, transactions and balances on e-wallets, except in cases where required by competent state agencies as prescribed by law or with the consent of customers.

2. Obligation to keep information confidential

Payment service providers and payment intermediary service providers are responsible for keeping confidential information related to accounts, transactions and balances on accounts, e-wallets, transactions and balances on e-wallets, except in cases where the customer consents or the law provides otherwise.

Chapter VI

MONITORING ACTIVITIES

Article 33. Supervision of important payment systems in the economy

1. The State Bank shall issue regulations on supervision and conduct supervision of important payment systems in the economy to contribute to ensuring the stable and safe operation of important payment systems in the economy.

2. The State Bank shall identify important payment systems subject to its supervision. The State Bank shall supervise important payment systems by means of remote monitoring, on-site inspection and other measures as necessary, in accordance with the principle of not hindering the normal operation of the system and the organization operating the important payment system.

3. The State Bank has the right to request operating organizations, settlement banks, and members participating in important payment systems to provide information related to the system.

4. Operating organizations, settlement banks, and members participating in important payment systems are responsible for providing information related to the system as requested by the State Bank.

5. Organizations operating and settling banks of important payment systems are responsible for complying with regulations and implementing supervisory requirements of the State Bank; promulgating internal regulations on risk control and ensuring continuous operation of the system.

Article 34. Supervision of payment service provision activities

1. The State Bank determines the scope, issues regulations on supervision and conducts supervision of payment service provision activities.

2. The State Bank shall supervise the provision of payment services by means of remote monitoring, on-site inspection and other measures when necessary, in accordance with the principle of not hindering the normal operations of payment service providers.

3. The State Bank has the right to request payment service providers to provide information related to payment service provision activities.

4. Payment service providers are responsible for providing information related to payment service provision activities at the request of the State Bank and are responsible for complying with regulations and implementing the State Bank's supervisory requirements.

Article 35. Supervision of payment intermediary service provision activities

1. The State Bank shall issue regulations on supervision and implementation of supervision of the provision of payment intermediary services by organizations licensed by the State Bank.

2. The State Bank shall supervise the provision of payment intermediary services by means of remote monitoring, on-site inspection and other measures when necessary, in accordance with the principle of not hindering the normal operations of payment intermediary service providers.

3. The State Bank has the right to request payment intermediary service providers to provide information related to payment intermediary service provision activities.

4. Payment intermediary service providers are responsible for providing information related to payment intermediary service provision activities at the request of the State Bank and are responsible for complying with regulations and implementing the State Bank's supervisory requirements.

5. Payment intermediary service providers must develop and provide online monitoring tools for the State Bank to monitor payment intermediary service provision activities before officially providing the service to customers on the market.

6. Banks cooperating with payment intermediary service providers are responsible for reporting and providing information related to cooperation activities in providing payment intermediary services; data information related to opening and managing payment guarantee accounts for payment intermediary service providers for e-wallet services, collection and payment support services as required by the State Bank.

Chapter VII

TERMS ENFORCEMENT

Article 36. Transitional provisions

1. Commercial banks and foreign bank branches that have participated in international payment systems before the effective date of this Decree shall continue to participate in such international payment systems. Within 24 months from the effective date of this Decree, commercial banks and foreign bank branches shall be responsible for meeting the business conditions specified in Article 21 of this Decree and completing the procedures for requesting approval to participate in international payment systems according to the regulations of the Governor of the State Bank; after the above deadline, commercial banks and foreign bank branches shall cease to participate in international payment systems not specified in the License.

2. Payment intermediary service providers licensed to provide electronic money transfer support services (as prescribed in Clause 5, Article 3 of Circular No. 39/2014/TT-NHNN dated December 11, 2014 of the State Bank guiding on payment intermediary services) stated in the Payment intermediary service provision license before the effective date of this Decree shall continue to provide this service according to the agreement between the parties.

3. Financial switching service providers licensed before the effective date of this Decree that have connected to international payment systems shall continue to connect to those international payment systems. Within 24 months from the effective date of this Decree, licensed financial switching service providers shall be responsible for meeting the business conditions and completing the procedures for requesting a License to operate as an international financial switching service provider as prescribed in this Decree; after the above deadline, the organization must terminate its connection to international payment systems not listed in the License to operate as an international financial switching service provider.

4. Enterprises providing public postal services are allowed to continue providing payment services without payment accounts in accordance with the provisions of law. Within 24 months from the effective date of this Decree, enterprises providing public postal services are responsible for meeting business conditions and completing procedures to request approval for providing payment services without payment accounts of customers in accordance with the provisions of this Decree; after the above deadline, enterprises must terminate the provision of payment services.

5. Payment intermediary service providers licensed to provide payment intermediary services before the effective date of this Decree shall continue to operate under the License granted by the State Bank until the License expires, except in cases where the organization requests a License as prescribed in this Decree.

Article 37. Enforcement

1. This Decree takes effect from March 01, 7.

2. This Decree replaces Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payments; Decree No. 80/2016/ND-CP dated July 1, 2016 of the Government amending and supplementing a number of articles of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payments and abolishes Article 3 of Decree No. 16/2019/ND-CP dated February 1, 2019 of the Government amending and supplementing a number of articles of the Decrees regulating business conditions under the state management of the State Bank.

Article 38. Responsible for implementing

Ministers, Heads of ministerial-level agencies, Heads of Government agencies; Chairmen of People's Committees of provinces and centrally-run cities; Chairmen of Boards of Directors, Chairmen of Boards of Members and General Directors (Directors) of credit institutions and branches of foreign banks; Chairmen of Boards of Directors, Chairmen of Boards of Members, Chairmen of companies and General Directors (Directors) of enterprises providing public postal services and relevant organizations and individuals are responsible for implementing this Decree.

 

Recipients: - Party Central Committee Secretariat; - Prime Minister, Deputy Prime Ministers; - Ministries, ministerial-level agencies and government-attached agencies; - People's Councils, People's Committees of provinces and centrally-run cities; - Central Office and Party Committees; - Office of the General Secretary; - Office of the President; - National Council and Committees of the National Assembly; - Congress office; - Supreme People's Court; - People's Procuratorate of the Supreme; - State audit; – National Financial Supervisory Commission; - Bank for Social Policy; - Vietnam Development Bank; - Central Committee of Vietnam Fatherland Front; - Central agency of unions; - Government Office: BTCN, PCNs, Assistant to the Prime Minister, General Director of TTTT, Departments, Departments, attached units, Official Gazette; - Save: VT, KTTH (2).

TM. GOVERMENT KT. PRIME MINISTER VICE PRIME MINISTER Le Minh Khai

 

APPENDIX

LIST OF SAMPLE DOCUMENTS, DOCUMENTS AND PROCEDURES
(Attached to the Decree No. XNXX / 52 / ND-CP dated 2024 month 15X year 5 of the Government)

Sample number 01	Application form for opening a payment account at the State Bank
Sample number 02	Application form for closing payment account at the State Bank
Sample number 03	Application form for providing payment services without going through customer's payment account
Sample number 04	Sample Decision on approval of payment service provision activities without going through customer's payment account
Sample number 05	Application form for revocation of approval document for providing payment services without going through customer's payment account
Sample number 06	Sample Decision on revoking the written approval of the provision of payment services without going through the customer's payment account
Sample number 07	Application form for a License to operate as a payment intermediary service provider
Sample number 08	Content of the project to provide intermediary payment services
Sample number 09	Resume template
Sample number 10	Technical acceptance report form
Sample number 11	Application form for re-issuance of License to operate payment intermediary services
Sample number 12	Application form for amendment and supplementation of the License to operate as a payment intermediary service provider
Sample number 13	Sample License to grant/re-grant payment intermediary service provision activities
Sample number 14	Sample Decision on approval of amendments and supplements to the content of the License to operate payment intermediary services
Sample number 15	Application form for revocation of License to operate payment intermediary services
Sample number 16	Sample Decision on revocation of License to operate payment intermediary service provision

 

Sample number 01

NAME OF THE ORGANIZATION OPEN THE ACCOUNT ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
Number: ……….	………, date ….. month …… year …….

 

APPLICATION FOR OPENING A PAYMENT ACCOUNT AT THE STATE BANK

Dear: …………………

Name of the organization opening the payment account (Account Holder): ...............................

...............................................................................................................

– Full name in Vietnamese:………………………………………………………………

– Full name in English (if any): ……………………………………………………

– Transaction name: ……………………………………………………………………

Establishment Decision No.: ……………………………….Date of issue…………………….

Place of issue: ………………………………………………………………………………………

Business license/Business registration certificate number: ...................

Date of issue: ……………………………….Place of issue: …………………………………….

Tax code: ,

Address: …………………………………………….Phone: ……………………..

Website: ……………………………………………Email: ……………………………

Full name of legal representative: .......................................................

Scope of representation: ………………………………………………………………………….

Date of birth^*: …………………………Gender (Male/Female)^*: …………………….

nationality^*: ……………………is a resident/non-resident: ………………………….

Place of permanent residence^*: ………………………………………………………………………………

Current residence (in case different from permanent residence): ……….Phone:……………….

Appointment decision No: ………………….….dated ……month …..year…..

Personal identification number (for ID card, citizen ID card) or identity card number or passport number: …………….; Date of issue:……….; Valid until:…….; Place of issue: ……………

Full name of Chief Accountant (or the person in charge of accounting or the person controlling transaction documents with the State Bank): …………………………………………………

Date of birth^*:………………….Gender (Male/Female)^*: ........................ ..

Personal identification number (for ID card, citizen ID card) or identity card number or passport number:……………; Date of issue:…….; Valid until:….; Place of issue:…………

Appointment decision No: ………………date……month…..year……

Please open a payment account at: .........................................................

Currency: □ VND □ USD □ Other……………

Our commitment:

– The above information is true and we are fully responsible for the accuracy and truthfulness of the documents in the attached payment account opening file.

– Strictly and fully comply with current legal regulations on opening and using payment accounts at the State Bank and take responsibility for any problems arising in case we do not strictly and fully comply with the regulations on opening and using accounts as prescribed by the State Bank.

– Send a written document (with relevant documents) to the State Bank when there is any change in payment account opening information or the seal or signature sample registered for use with the State Bank.

 

Attached profile: 1) Registration form of seal and signature with authorization document (if any); 2) Decision No.……………….. 3) …………………………………

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

 

SECTION FOR STATE BANK

After checking and determining that the payment account opening dossier of……………… is complete and valid, the State Bank …………………… agrees to open payment account number: ………………… for ……………………………………………..

Date of commencement of operations: ………………………………………………………………

 

Head of Accounting Department (Sign, write full name)

DIRECTOR OF THE EXCHANGE DEPARTMENT STATE BANK/ DIRECTOR OF THE STATE BANK BRANCH……………. (Sign, print full name, stamp)

Note: In case the State Bank receiving the Application for opening a payment account is eligible to access and exploit information on the National Population Database, the organization opening the payment account is not required to declare the information marked with (*).

 

 REGISTRATION FORM FOR SEAL AND SIGNATURE FOR USING PAYMENT ACCOUNT AT STATE BANK

(Attached is the Application for opening an account No. ……dated…of……)

Organization name: ……………………………………………………………………………

Transaction address: ………………………….Transaction phone: …………………..

Payment account name: ………………………………………………………….

Payment account number: ……………………………………………………………………………………

Place of opening payment account: …………………………………………………….

Register the signature sample and seal sample to be used on transaction documents with the State Bank …………………………………………………………………………. as follows:

1. Signature sample

Signature Sample Registrant	First signature sample	Second signature sample
1. Legal representative of the account owner: 1.1. First legal representative: Full name:………………………… Personal identification number (for ID card, citizen ID card)/ID card number/passport number:…………………………. Date of issue:………………………… Valid until:…………………………. Place of issue:…………………………………… Representative scope:…………………………..
1.2. Second legal representative: Full name:………………………………………. Personal identification number (for ID card, citizen ID card)/ID card number/passport number:………………………………. Date of issue:………………………….. Valid until:………………………. Place of issue:………………………………. Representative scope:…………………………
1.3. Third legal representative: Full name:…………………………………………………. Personal identification number (for ID card, citizen ID card)/ID card number/passport number:……………………………………………. Date of issue: ………………………………………… Valid until:……………………………………. Place of issue: …………………………………………… Representative scope:…………………………
2. Chief accountant (or person in charge of accounting, person controlling transaction documents with the State Bank) and authorized person
2.1. Chief accountant (or person in charge of accounting, person controlling transaction documents with the State Bank): Full name:…………………………. Personal identification number (for ID card, citizen ID card)/ID card number/passport number: …………………………………………. Date of issue:………………………….. Valid until: ……………………………….. Place of issue:……………………………………….
2.2. First authorized person: Full name:……………………………………….. Personal identification number (for ID card, citizen ID card)/ID card number/passport number:………………… Date of issue:………………………………………………….. Valid until:……………………………………………. Place of issue:……………………………………………………. Authorization document No.…………………. dated………… Authorization period:…………………………………….. Scope of authorization:………………………………………
2.3 Second authorized person: Full name:…………………………………… Personal identification number (for ID card, citizen ID card)/ID card number/passport number: …………………….. Date of issue:………………………………………. Valid until:……………………………………… Place of issue:……………………………………………………. Authorization document No.………………….. dated………. Authorization period:…………………………………….. Scope of authorization:………………………………………

2. Stamp sample

First stamp sample	Second stamp

 

……… date…month….year…. LEGAL REPRESENTATIVE (Sign, print full name, stamp)

 

SECTION FOR STATE BANK

After determining that the signature and seal samples of……………………………… are valid, the State Bank……………………………… accepts the Registration of seal and signature samples for using payment accounts at the State Bank ……………………… with payment account number: …………… of ………………….

Effective date: ………………………………………………………

 

Head of Accounting Department (Sign, write full name)

DIRECTOR OF THE EXCHANGE DEPARTMENT STATE BANK/ DIRECTOR OF THE STATE BANK BRANCH……. (Sign, print full name, stamp)

 

Sample number 02

NAME OF THE ORGANIZATION CLOSING THE ACCOUNT ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
Number: ……….	……., date ….. month ….. year …….

 

APPLICATION FOR CLOSE PAYMENT ACCOUNT AT STATE BANK

Dear: ……………………..

Name of the organization requesting to close the payment account (account holder): ......................

………………………………………………………………………………………………..

– Full name in Vietnamese: ………………………………………………………………….

– Full name in English (if any): ………………………………………………………..

– Transaction name: ……………………………………………………………………

Address: ………………………………………. Phone:………………………………..

Website: ………………………………….. Email: ………………………………………

Request to close payment account number: ............................................. ..

Open at ……………………………………………………………………………………….

The balance on the payment account is proposed to be processed as follows:

………………………………………………………………………………………………..

………………………………………………………………………………………………..

………………………………………………………………………………………………..

Our commitment:

– Fully comply with current legal regulations on closing payment accounts at the State Bank;

– Fully perform obligations related to payment accounts with the State Bank.

 

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

 

SECTION FOR STATE BANK

After checking and processing the Application for closing the payment account of …………………….

………………………….…….. and ensures that……………………………………has fully fulfilled all obligations related to the payment account at the State Bank, the State Bank ……………………….. agrees to close the payment account number……………..…………………………. for……………………………………. from the date………………………………………………..

 

Head of Accounting Department (Sign, write full name)

DIRECTOR OF THE EXCHANGE DEPARTMENT STATE BANK/ DIRECTOR OF THE STATE BANK BRANCH…….. (Sign, print full name, stamp)

 

Sample number 03

SUPPLY ENTERPRISE PUBLIC POSTAL SERVICES ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	….., date ….. month ….. year ……

 

APPLICATION FOR PROVIDING PAYMENT SERVICES WITHOUT GOING THROUGH CUSTOMER'S PAYMENT ACCOUNT

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated … month … year … of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders of the Enterprise providing public postal services dated… month… year… agreeing on the request to provide payment services without going through customers' payment accounts;

(Enterprise providing public postal services) requests the State Bank to consider approving the provision of payment services without going through customers' payment accounts with the following specific contents:

1. Name of the Enterprise providing public postal services:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Establishment License/Business Registration Certificate No.…… issued by… date… month… year…

3. Business registration number/Tax code:

4. Head office location, phone number, fax number, email.

5. Name and content of the payment service(s) not through the customer's payment account that the customer requests to provide:

- ...

- ...

- ...

We commit to meet and strictly comply with the conditions stipulated in Decree No. …./ND-CP dated … month … year … of the Government regulating non-cash payments and related documents. If we violate, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

 

Sample number 04

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
No: …/QD-NHNN	Hanoi, date … month … year ……

 

DECISION

On approval of payment service provision activities without going through customer payment accounts

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Consider the application for approval of the provision of payment services without going through the customer's payment account and the attached documents of the Enterprise providing public postal services;

At the request of the Director of the Payment Department.

DECISION:

Article 1. Approval to allow the provision of payment services without going through the customer's payment account:

1. Organization name:

– Full name in Vietnamese/English (if any):

– Abbreviated name in Vietnamese and English, transaction name (if any):

2. Enterprise code:

3. Head office location:

Article 2. Approved non-customer payment account payment service(s):

Article 3. Other terms:

Article 4. In the process of providing payment services not through customers' payment accounts, Enterprises providing public postal services must comply with the provisions of Decree No. ... dated ... month ... year ... of the Government regulating non-cash payments and amendments and supplements (if any); Circular No. ... dated ... month ... year ... of the State Bank of Vietnam regulating non-cash payment services and amendments and supplements (if any); and relevant legal provisions.

Article 5. Enforcement

This Decision is valid for 10 years from the date of signing.

 

Recipients: - As Article 1; – Board of Directors of the State Bank; – Department of Information Technology, Department of PC (for coordination); – CQTTGSNH (for coordination); – State Bank branch …. (for coordination); - Save: ….

GOVERNOR

 

Sample number 05

ENTERPRISE PROVIDING PUBLIC POSTAL SERVICES ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	……., date … month … year ……

 

APPLICATION FOR REVOKING THE DOCUMENT OF APPROVAL FOR PROVIDING PAYMENT SERVICES WITHOUT THE CUSTOMER'S PAYMENT ACCOUNT

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders of the Enterprise providing public postal services dated… month… year… agreeing on the request to withdraw the written approval for the provision of payment services without going through customers' payment accounts in Decision No… dated… month… year… issued by the State Bank;

(Enterprise providing public postal services) We request to revoke the document approving the provision of payment services without a customer's payment account from the date... month... year..., therefore we request the State Bank to consider revoking Decision No.... dated... month... year... on approving the provision of payment services without a customer's payment account with the following specific contents:

1. Name of the Enterprise providing public postal services:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Establishment license/Business registration certificate No.… issued by… date… month… year…

3. Business registration number/Tax code:

4. Head office location, phone number, fax number, email:

5. Document approving the provision of payment services without going through the customer's payment account Decision No.... issued by the State Bank of Vietnam on ... month ... year ...

6. Reason for request for revocation: (specify according to the provisions of Clause 4, Article 20 of Decree No. …/…/ND-CP dated … month … year …. of the Government regulating non-cash payments).

7. Time to terminate the provision of payment services without going through the customer's payment account:

We commit to have completed the handling of tax obligations, debts, assets, customer benefits and take full responsibility before the law for the legality, accuracy, and honesty of the content of this Application. If there is any violation, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

 

Sample number 06

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
No: …/QD-NHNN	……., date … month … year ……

 

DECISION

Regarding the revocation of the Document approving the provision of payment services without going through the customer's payment account

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …./…/TT-NHNN dated … month… year… of the Governor of the State Bank of Vietnam regulating the provision of non-cash payment services and amendments and supplements (if any);

Based on …………………………………………………………..

At the request of the Director of the Payment Department.

DECISION:

Article 1. Revoke the Document of approval for the provision of payment services without going through customers' payment accounts No. …/QĐ-NHNN dated… month… year… issued by the State Bank of Vietnam to the Enterprise providing public postal services.

Article 2. Other terms

Article 3. This Decision takes effect from the date of signing.

 

Recipients: - As Article 1; – Board of Directors of the State Bank; – Department of Information Technology, Department of PC (for coordination); – CQTTGSNH (for coordination); – State Bank branch …. (for coordination); - Save: ….

GOVERNOR

 

Sample number 07

ORGANIZATION NAME REQUEST FOR LICENSE ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	……., date … month … year ……

 

APPLICATION FOR LICENSE TO PROVIDE PAYMENT INTERMEDIARY SERVICES

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated … month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

Pursuant to the Resolution of the meeting of the Board of Members/General Meeting of Shareholders/Board of Directors/Document of the authorized representative of the owner of ……(1)…… No. ….. dated… month… year… agreeing on the request for issuance of Certificate license to operate payment intermediary services;

……(1)…… Propose that the State Bank of Vietnam consider granting a License to operate as a payment intermediary service provider with the following specific contents:

1. Name of the Organization requesting a License to operate as a payment intermediary service provider:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Establishment license/Business registration certificate/Business registration certificate number …….. issued by ………….. date… month… year…

3. Business registration number/Tax code:………………………………….

4. Head office location, phone number, fax number, email.

5. Name(s) of payment intermediary service(s) requesting a License:

………………

We commit to comply with and strictly comply with the provisions of the law and the State Bank; take full responsibility for the accuracy and honesty of the contents of the License Application; do not copy or forge documents proving eligibility for the License to provide payment intermediary services in the License Application. If there is any violation, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

Note: …(1)… Name of the organization requesting a License to operate as a payment intermediary service provider.

 

Sample number 08

CONTENT OF THE PROJECT PROVIDING INTERMEDIARY PAYMENT SERVICES

In the application for a License to provide payment intermediary services, the Payment Intermediary Services Provision Project must have at least the following contents:

STT	Write comment here...	Specific criteria
1	General introduction about the organization requesting a License to operate as a payment intermediary service provider.	– Organization name - Formation and development process. – Business sectors and professions. – Orientation of providing and implementing the provision of payment intermediary services after being granted a License. – Other related content (if any).
2	Technical business process of the service requesting a license	– Service name. – Scope of supply. – Customer target – Terms of use. – Diagram and explain the steps to perform the business. – Cash flow process from transaction initiation to settlement of obligations between related parties for e-wallet services and collection and payment support services.
3	Mechanism for opening and maintaining payment guarantee account balance, purpose of using payment guarantee account for e-wallet service	– The organization providing e-wallet services must open an account to guarantee payment for the provision of e-wallet services. – Maintaining a total balance on all accounts ensures payment for the e-wallet service. – Purpose of using the account to guarantee payment for e-wallet services according to the provisions of law.
4	Mechanism to ensure payment capacity for collection and payment support services	– Build a mechanism to ensure payment capacity for collection and payment support services in compliance with legal regulations.
5	Internal control and inspection process	- Develop internal regulations on internal inspection and control, including the following contents: Purpose, requirements; implementation sequence; responsibilities of relevant departments.
6	Risk management process, ensuring safety and security	– Regulations on risk management, safety and security ensure compliance with State Bank regulations in e-banking activities. – Regulations on the establishment, use, preservation and storage of electronic documents according to the provisions of law on electronic transactions in banking activities. – Assess potential risks and corresponding risk management measures in the process of providing payment intermediary services. – Develop internal procedures on policies and specific risk handling measures.
7	General principles and internal regulations on preventing and combating money laundering, terrorist financing and financing of proliferation of weapons of mass destruction	– General principles on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction. – Internal regulations on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction in accordance with the provisions of law on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction.
8	Process and procedures for handling requests for verification, complaints and disputes	– Regulations on resolving or responding to customer complaints and inquiries, clearly stating: Receiving channels, receiving departments, steps to guide customers in making complaints, complaint handling steps within the payment intermediary organization and when coordination with related units is required. – Process, procedures, specific responsibilities of each related party, implementation time of each step and results returned to complaining customers.
9	A plan for an organization to carry out the settlement of clearing results between related parties for financial switching services, electronic clearing, and international financial switching.	- Organize settlement implementation. – Scope of settlement. – Conditions for settlement. – Settlement currency; applicable exchange rate (if any). – Settlement account. – Settlement process: Settlement time, diagram and explanation of settlement steps, dispute resolution, fees, measures to identify, prevent and handle risks during the settlement process (including risks of settling financial obligations when participating parties are unable to pay). – Rights and responsibilities of members and stakeholders. – Connections with other payment systems (if any).

 

Sample number 09

SOCIAL REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
------

CV ⁽¹⁾

 

1. About me Full name: – Date of birth*: – Nationality/nationalities (if any) *: – Permanent residence*:

Passport photo (4x6cm)

– Current residence (in case different from permanent residence registration):

– Personal identification number (for ID card, citizen ID card) or identity card number or passport number or other legal personal identification document number: ………..; Date of issue: ……….; Valid until: ………….; Place of issue: ………….

2. Education level

– General education:

– Academic title, degree (clearly state name, school address; major; study period; degrees (list all degrees):

3. Work process:

– Occupation, unit, job position from age 18 to present ⁽²⁾:

STT	Time (from month/year to month/year) (3)	Work unit	position (4)	Business fields of operation and assigned tasks	Note

– Rewards and discipline:

4. Civil conduct capacity ⁽⁵⁾

5. Information on prohibition of holding positions, establishing or managing enterprises or cooperatives (in cases where the criminal record or equivalent document issued by a competent foreign authority does not contain this information)

6. Personal relationships (father, mother, wife, husband, children and siblings)

7. I (full name of the person declaring the resume) hereby commit to:

– Meet the conditions to hold the position… at… (name of the Organization requesting a License to operate as a payment intermediary service provider).

– Do not violate the provisions of law in the field of currency and banking.

– The personal information I provide above is true. I take full responsibility for any information that is not true in this declaration.

 

CONFIRMATION OF COMPETENT AUTHORITY OF THE WORK UNIT

…….., day month Year…… DECLARANT (Sign and print full name)

Note:

1. The declarant must fully declare the information as required and be responsible before the law for the completeness, accuracy and honesty of the records. In case of no occurrence, clearly state that there is none.

2. The declarant must fully declare the job, work unit, and positions held and held.

3. Must ensure continuity in terms of time.

4. Specify if the employee is a manager or operator as prescribed by law and the Charter of the organization requesting a License to operate as a payment intermediary service provider.

5. Specifically state: full/limited/loss of civil capacity.

In case the State Bank can access and exploit information on the National Population Database, if the declarant is a Vietnamese citizen, it is not required to declare information marked with (*).

(In addition to the above basic contents, the declarant can add other contents if necessary)

 

Sample number 10

TECHNICAL ACCEPTANCE MINUTES

(Minutes of technical acceptance of payment intermediary services that have been granted a License with a cooperating bank for e-wallet services, collection and payment support services and electronic payment gateway services must have at least the following contents:)

1. Information about the payment intermediary service provider:

– Organization name

– Legal representative of the organization; position.

– Head office address.

Contact phone number.

– Other relevant information (if any).

2. Information of cooperative banks:

– Bank name

– Legal representative of the bank; position.

– Head office address.

Contact phone number.

– Other relevant information (if any).

3. Main contents of the Technical Acceptance Report

Based on the results of technical acceptance of the licensed payment intermediary service(s), the two parties shall sign the Minutes of technical acceptance of the payment intermediary service(s) with the following contents:

– Name(s) of payment intermediary service(s) performing technical acceptance.

– Implementation time (after the date of issuance of the License to provide payment intermediary service(s).

– Implementation environment:

– Technical acceptance operations/functions (if any).

– Test content

– Technical acceptance results (for each payment intermediary service).

– Evaluation of technical acceptance results.

– Technical acceptance scenario (if any).

– Other related content (if any).

 

LEGAL REPRESENTATIVE OF COOPERATIVE BANK (Sign, print full name, stamp)

LEGAL REPRESENTATIVE OF THE SERVICE PROVIDING ORGANIZATION PAYMENT INTERMEDIARY (Sign, print full name, stamp)

 

Sample number 11

NAME OF THE ORGANIZATION PROVIDING THE PAYMENT INTERMEDIARY SERVICE ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	……., date … month … year ……

 

APPLICATION FOR RE-ISSUANCE OF LICENSE TO PROVIDE PAYMENT INTERMEDIARY SERVICES

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

…(1)… Request the State Bank of Vietnam to re-issue the License to operate as a payment intermediary service provider with the following specific contents:

1. Name of the Organization requesting re-issuance of the License to operate as a payment intermediary service provider:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Establishment license/Business registration certificate/Business registration certificate number… issued by… date… month… year…

3. Business registration number/Tax code:

4. Head office location, phone number, fax number, email:

5. The license to operate as a payment intermediary service provider was issued number… on… month… year…

6. Reason for requesting re-issuance of License (check the corresponding box):

□ License Expiration Date.

□ The license is lost, torn, burned or otherwise destroyed.

In case an organization requests to re-issue a License due to the expiration of the License, the Organization shall provide documents proving the maintenance of the conditions for providing payment intermediary services for which the License was granted at the time of submitting the application for re-issuance of the License to the State Bank.

(In addition to the above basic contents, the payment intermediary service provider may add other contents if deemed necessary)

We commit to comply with and strictly comply with the provisions of the law and the State Bank of Vietnam; take full responsibility for the accuracy and honesty of the content in the Application and attached documents (if any). If there is any violation, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

Note: …(1)… Name of the organization requesting re-issuance of the License to operate as a payment intermediary service provider.

 

Sample number 12

NAME OF THE ORGANIZATION PROVIDING THE PAYMENT INTERMEDIARY SERVICE ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	……., date … month … year ……

 

APPLICATION FOR AMENDMENT AND SUPPLEMENT OF LICENSE TO PROVIDE INTERMEDIARY PAYMENT SERVICES

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated… month… year… of the Bank The Vietnamese State regulates the provision of payment intermediary services and amendments and supplements (if any);

Pursuant to the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders, the document of the authorized representative of the owner of …(1)… agreeing on changing the name of the organization/headquarter location/stopping providing one or several licensed intermediary payment services/connecting to the international payment system of the organization providing international financial switching services at License No.… dated… month… year…;

Pursuant to the Establishment License/Business Registration Certificate/Business Registration Certificate No.… dated… month… year… issued for the… time by…;

Based on other reasons (if any)

…(1)… Propose that the State Bank of Vietnam amend and supplement the License to operate payment intermediary services with the following specific contents:

1. Name of the Organization requesting to amend or supplement the License to operate payment intermediary services:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Business registration number/Tax code:

3. Head office location, phone number, fax number, email:

4. License to operate payment intermediary service provision No.… dated… month… year… of the Governor of the State Bank of Vietnam.

5. Reason for requesting to amend or supplement the License (check the corresponding box):

□ Change organization name

Name of the payment intermediary service provider after change:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

□ Change of head office location

Head office location change:

□ Stop providing one or more licensed payment intermediary services

– Name(s) of payment intermediary services that have stopped providing:

– Expected time to stop providing payment intermediary services:

□ Connect to the international payment system of an international financial switching service provider.

We commit to take full responsibility before the law for the legality, accuracy and honesty of the content of this Application. In case of stopping the provision of one or several licensed payment intermediary services, we commit to completing the handling of tax obligations, debts, assets and customer rights. If there is any violation, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

Note: ….(1)…. Name of the organization requesting to amend or supplement the License to operate as a payment intermediary service provider.

 

Sample number 13

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
Number: …/GP-NHNN	……., date … month … year ……

 

LICENSE

Payment intermediary service provision activities

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

Considering the Application for issuance/re-issuance of License to operate as a payment intermediary service provider No.… dated… month… year… and attached documents of …(1)…;

At the request of the Director of the Payment Department.

DECISION:

Article 1. License to provide payment intermediary services for:

1. Organization name: …(1)…

– Full name in Vietnamese/English (if any):

– Abbreviated name in Vietnamese and English, transaction name (if any):

2. Enterprise code:

3. Head office location:

Article 2. Licensed/Re-granted Payment Intermediary Service(s):

Article 3. Other terms:

Article 4. In the process of providing intermediary payment services, …(1)… must comply with the provisions of Decree No. …/…/ND-CP dated … month … year … of the Government regulating non-cash payments and amendments and supplements (if any); Circular No. …/…/TT-NHNN dated … month … year … of the Governor of the State Bank of Vietnam regulating the provision of intermediary payment services and amendments and supplements (if any); other relevant legal provisions.

Article 5. Enforcement

This license is valid for 10 years from the date of signing. (for cases of granting Licenses as prescribed in Article 24 of this Decree).

This License takes effect from the date of signing and replaces License No.… dated… month… year… of the Governor of the State Bank of Vietnam on granting the License to operate payment intermediary service provision for…(1)… (for the case of re-issuance of License as prescribed in Clause 1, Article 25 of this Decree).

This License is effective from the date of signing, valid until… month… year… and replaces License No.… dated… month… year… of the Governor of the State Bank of Vietnam on granting a License to operate as a payment intermediary service provider for…(1)… (for the case specified in Clause 2, Article 25 of this Decree).

 

Recipients: - As Article 1; – Board of Directors of the State Bank; – Department of Information Technology, Department of PC (for coordination); – CQTTGSNH (for coordination); – Transaction Office (for coordination); – State Bank branch …. (for coordination); - Save: ….

GOVERNOR

Note: (1) Name of the organization requesting the issuance or re-issuance of a License to operate as a payment intermediary service provider.

 

Sample number 14

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
No: …/QD-NHNN	……., date … month … year ……

 

DECISION

Regarding the approval of amendments and supplements to the contents of the License to operate payment intermediary services of…(1)…

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated … month… year… of the Governor of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

Considering the Application for amendment and supplementation of the License to operate payment intermediary services No.... dated... month... year... and attached documents (if any) of...(1)...;

At the request of the Director of the Payment Department.

DECISION:

Article 1. Amend and supplement Article 1 and/or Article 2 of the License to operate payment intermediary services for…(1)…, as follows:

...

Article 2. This Decision takes effect from the date of signing and is an inseparable part of the License to operate payment intermediary services No.... dated... month... year... issued by the Governor of the State Bank of Vietnam to...(1)...

Article 3. …(1)… must:

1. Amend and supplement the Charter in accordance with the changes in Article 1 of this Decision.

2. Send written notice to relevant organizations and individuals to liquidate the contract and complete the obligations and responsibilities between the relevant parties in accordance with the provisions of law within 30 days from the effective date of this Decision. (in case the organization requests to stop providing payment intermediary services).

Article 4. (Content... stated in) Decision No.... dated... month... year... of the Governor of the State Bank of Vietnam on amending and supplementing the content of the License to operate payment intermediary services of... .(1)... expires from the effective date of this Decision (if any).

Article 5. ...

Article 6. Chief of Office, Head of Payment Department, Legal representative of…(1)… are responsible for implementing this Decision.

 

Recipients: - As Article 5; – Board of Directors of the State Bank; – Department of Information Technology, Department of PC (for coordination); – CQTTGSNH (for coordination); – Transaction Office (for coordination); – State Bank branch …. (for coordination); – Communications Department (for publication); - Save: ….

GOVERNOR

Note: …(1)… Name of the organization requesting to amend or supplement the License to operate as a payment intermediary service provider.

 

Sample number 15

NAME OF THE ORGANIZATION PROVIDING THE PAYMENT INTERMEDIARY SERVICE ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
	……., date … month … year ……

 

APPLICATION FOR REVOKING LICENSE TO PROVIDE INTERMEDIARY PAYMENT SERVICES

To: Governor of the State Bank of Vietnam.

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

Pursuant to the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders, the document of the authorized representative of the owner of …(1)… agreeing on the cessation of providing payment intermediary services licensed by the State Bank in License No.… dated… month… year…;

…(1)… Request the State Bank to revoke the License to operate payment intermediary services No. ... dated ... month ... year ... with the following specific contents:

1. Name of the payment intermediary service provider:

– Full name in Vietnamese:

– Abbreviated name in Vietnamese (if any):

– Full name in English (if any):

– Abbreviation in English (if any):

– Transaction name (if any):

2. Establishment license/Business registration certificate/Business registration certificate number… issued by… date… month… year…

3. Business registration number/Tax code:

4. Head office location, phone number, fax number, email:

5. License to operate payment intermediary service provision No.… dated… month… year… issued by the State Bank of Vietnam.

6. Reason for requesting revocation (check the corresponding box):

□ The organization is dissolved or bankrupt.

– Attached documents:

□ Termination of payment intermediary service provision

– Attached documents:

– Expected time to terminate the provision of payment intermediary services:

We commit to have completed the handling of tax obligations, debts, assets, customer benefits and take full responsibility before the law for the legality, accuracy, and honesty of the content of this Application. If there is any violation, we will take full responsibility before the law.

 

Attached profile: 1. 2.

LEGAL REPRESENTATIVE (Sign, print full name, stamp)

Note: …(1)… Name of the organization providing intermediary payment services.

 

Sample number 16

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
No: …/QD-NHNN	……., date … month … year ……

 

DECISION

Regarding the revocation of the License to operate payment intermediary services of…(1)…

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 6;

Pursuant to Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and amendments and supplements (if any);

Pursuant to Circular No. …/…/TT-NHNN dated… month… year… of the Governor of the State Bank of Vietnam regulating the provision of payment intermediary services and amendments and supplements (if any);

Considering the request of …(1)… (in case the organization has a Request for License revocation due to dissolution or bankruptcy or cessation of payment intermediary service provision activities)/request of a competent state agency (in case there is a judgment, decision on execution of judgment, decision on administrative sanction containing a request to revoke the License);

At the request of the Director of the Payment Department.

DECISION:

Article 1. Revoke the License to operate payment intermediary service provision No.... dated... month... year... issued by the Governor of the State Bank of Vietnam to:

1. Organization name:

– Full name in Vietnamese:

– Full name in English:

– Abbreviation:

– Transaction name:

2. Enterprise code:

3. Head office location:

4. Reason for recall:

Article 2. Upon receiving this Decision, …(1)… must immediately stop providing payment intermediary services. Within 30 days from the effective date of this Decision, …(1)… must send written notice to relevant organizations and individuals to liquidate the contract and complete the obligations and responsibilities between the parties.

Article 3. This Decision takes effect from the date of signing.

Article 4. The Chief of Office, Director of Payment Department, Heads of units under the State Bank of Vietnam, Legal representative of…(1)… are responsible for implementing this Decision.

 

Recipients: - As Article 4; – Board of Directors of the State Bank; – Department of Information Technology, Department of PC (for coordination); – CQTTGSNH (for coordination); – Transaction Office (for coordination); – State Bank branch …. (for coordination); – Communications Department (for publication); - Save: ….

GOVERNOR

Note: (1) Name of the Organization whose License to provide payment intermediary services has been revoked.