Decree 52/2024/ND-CP regulates non-cash payments.

DECREE

REGULATIONS ON NON-CASH PAYMENTS

Based on the Law on Organization of the Government dated June 19, 2015; and the Law amending and supplementing a number of articles of the Law on Organization of the Government and the Law on Organization of Local Government dated November 22, 2019;

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on the Law on Credit Institutions dated January 18, 2024;

Based on the Investment Law dated June 17, 2020;

Based on the Law on State Budget dated June 25, 2015;

Based on the Law on Cybersecurity dated June 12, 2018;

Based on the Law on Prevention and Combatting Money Laundering dated November 15, 2022;

Based on the Law on Counter-Terrorism dated June 12, 2013;

Based on the Law on Posts dated June 17, 2010;

As requested by the Governor of the State Bank of Vietnam;

The government has issued a decree regulating cashless 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; and the organization, management, and supervision of payment systems.

Article 2. Subject of application

1. Organizations providing cashless payment services.

2. Organizations providing intermediary payment services.

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

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

Article 3. Explain words

In this Decree, the following terms are understood as follows:

1. Non-cash payment services (hereinafter referred to as payment services) include: payment services through customers' payment accounts and payment services not through customers' payment accounts.

2. Payment services through customer payment accounts involve providing payment methods; performing payment services such as checks, payment orders, payment authorizations, collection orders, collection authorizations, bank cards, money transfers, collection services, disbursement services, and other payment services for customers through their payment accounts.

3. Payment services not conducted through the customer's payment account refer to the provision of payment services and the execution of payment transactions without going through the customer's payment account.

4. Non-cash payment service providers (hereinafter referred to as payment service providers) are organizations authorized to provide one or more payment services as stipulated in this Decree, including: the State Bank of Vietnam (hereinafter referred to as the State Bank), banks, branches of foreign banks, people's credit funds, microfinance institutions, and public postal service providers.

5. Payment intermediary service providers are organizations other than banks or branches of foreign banks that have been granted a license to operate payment intermediary services by the State Bank of Vietnam.

6. Enterprises providing public postal services are enterprises designated in accordance with the provisions of the Law on Posts.

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

8. International payment refers to a payment transaction made to a 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 an individual who opens the account in the case of an individual account, or an organization that opens the account in the case of an organization account.

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

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

12. Electronic money is the value of Vietnamese Dong stored on electronic means, provided on the basis of matching the amount of money prepaid by customers to banks, branches of foreign banks, and intermediary payment service providers offering electronic wallet services.

13. Financial switching services are services that provide the technical infrastructure for connecting, transmitting, and processing electronic data of domestic payment transactions between payment service providers, financial companies authorized to issue credit cards, and payment intermediary service providers.

14. International financial switching services involve connecting to the international payment system to transmit and process electronic data for international payment transactions.

15. Electronic clearing service is a service that provides the technical and operational infrastructure to receive and reconcile payment data and calculate the resulting amounts to be collected and paid after clearing between participating member parties, in order to finalize the settlement for the relevant parties.

16. Electronic wallet services are services provided by banks, branches of foreign banks, and payment intermediary service providers to customers for depositing money into electronic wallets, withdrawing money from electronic wallets, and conducting payment transactions.

17. Payment collection and disbursement support services involve receiving and processing electronic data, calculating payment collection and disbursement results, canceling payment collection and disbursement for customers with payment accounts and bank cards, and making payments to relevant parties.

18. Electronic payment gateway service is a service that provides technical infrastructure to connect, transmit, and process electronic data of payment transactions conducted using payment methods between customers, payment acceptance units, and banks, branches of foreign banks, finance companies authorized to issue credit cards, and organizations providing intermediary payment services.

19. A payment system is a system comprising 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 that allows for international payment transactions.

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

a) It is the sole payment system or accounts for a large proportion of the total value of payments made by similar payment systems; or

b) It is a system for processing high-value payment transactions; or

c) It is a system used to settle accounts for other payment systems or for transactions in the financial market.

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

23. A joint payment account is a payment account opened in the names of at least two or more individuals.

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

1. Issue, within its 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. To organize, manage, operate, and supervise the national payment system; to participate in organizing and supervising the operation of other important payment systems in the economy; and to supervise the provision of payment services and payment intermediary services.

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

4. Granting, amending, supplementing, and revoking licenses for payment intermediary service providers.

5. Approving and revoking documents related to the provision of payment services not through customer payment accounts by public postal service providers.

6. Inspect, audit, and handle, within their authority, violations of the law on non-cash payment activities by organizations and individuals.

7. Managing international cooperation activities in the field of payments; presiding over and coordinating with relevant agencies in managing international payment activities.

Article 5. Payment in foreign currency and international payments

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

2. Commercial banks and branches of foreign banks may participate in the international payment system after meeting the conditions stipulated in Article 21 of this Decree.

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

4. Financial switching service providers connected to the international payment system to perform international financial switching services must meet the conditions stipulated in Article 22 of this Decree.

5. Payment intermediary service providers (excluding financial switching service providers) are permitted to provide payment intermediary services to customers for the purpose of conducting payment transactions for foreign goods and services; the execution and settlement of such international payment transactions must be carried out through commercial banks or branches of foreign banks that have been approved by the State Bank of Vietnam to operate foreign exchange 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 as prescribed by Vietnamese law.

Article 6. Electronic wallets and prepaid cards

1. Electronic wallets and prepaid cards are means of storing electronic money.

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

3. Payment intermediary service providers offering e-wallet services must ensure that the total balance in all accounts securing payment for e-wallet services opened at banks or branches of foreign banks is not lower than the total balance of all e-wallets issued to customers; and 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 of Vietnam organizes, manages, and operates the national payment system to provide payment services to participating members of the system, including the State Bank of Vietnam, credit institutions, branches of foreign banks, and the State Treasury; and settles the results of clearing for other payment systems.

2. The State Bank of Vietnam shall regulate the management, operation, and security of the national payment system.

Article 8. Prohibited acts

1. Repairing or altering payment instruments or payment documents in violation of legal regulations; forging payment instruments or payment documents; possessing, circulating, transferring, or using counterfeit payment instruments.

2. Accessing or attempting to access, stealing data, damaging, or illegally altering software programs or electronic data used in payment systems; exploiting computer network system errors for personal gain.

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

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

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

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

7. Providing payment intermediary services without a license to operate payment intermediary services from the State Bank of Vietnam. Providing payment services without being a payment service provider organization.

8. Carrying out, organizing the carrying out, or facilitating the carrying out of acts such as: using or exploiting payment accounts, payment methods, payment services, or payment intermediary services for gambling, organizing gambling, fraud, deception, illegal business activities, and other violations of the law.

9. Erasing, altering the content, buying, selling, transferring, leasing, lending, or forging the License for operating payment intermediary services.

10. Delegating or entrusting other organizations or individuals to act as agents for activities permitted under the Payment Intermediary Service Provider License.

11. Fraudulently falsifying documents proving eligibility for a Payment Intermediary Service Provider License in the application file for the license.

12. Activities that do not comply with the regulations specified in the Payment Intermediary Service Provider License.

13. The payment account holder has a payment account at a payment service provider but provides information or commits to not having a payment account at that payment service provider to parties with relevant rights and obligations as stipulated by law on loan disbursement of credit institutions and branches of foreign banks.

Chapter II

OPEN AND USE 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 of Vietnam and relevant laws.

Article 10. Use and authorization of payment accounts

1. The payment account holder may use their payment account to deposit and withdraw cash and request payment service providers to execute valid payment transactions. The payment account holder has the right to request the payment service provider to provide information about transactions and the balance in their payment account, in accordance with 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. This authorization must be in writing and comply with legal regulations on authorization.

3. The payment account holder is obligated to provide complete and truthful information and comply with regulations on opening, using, and authorizing the use of payment accounts of the payment service provider, and must ensure that there is sufficient funds (credit balance) in the payment account to execute the payment order, except in cases where there is an overdraft agreement with the payment service provider.

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

5. Payment service providers have the right to refuse to execute a payment order from a payment account holder when the order is invalid, or there is a legal basis to determine that the account holder has violated prohibited acts as stipulated in Article 8 of this Decree, or when the payment account has insufficient funds, unless otherwise agreed. In case of refusal to execute a payment order from a payment account holder, the payment service provider must notify the account holder of the reason for the refusal.

Article 11. Freezing of payment accounts

1. The payment account may be partially or completely frozen in the following cases:

a) As agreed in advance 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 in accordance with the law;

c) When a payment service provider discovers an error or mistake in crediting a customer's payment account, or when processing a refund request from a money transfer service provider due to an error or mistake compared to the transferor's payment order after crediting the customer's payment account, the amount frozen in the payment account shall not exceed the amount of the error or mistake.

d) When a freeze is requested by one of the joint payment account holders, unless there is a prior written agreement between the payment service provider and the joint payment account holders.

2. The payment account freeze has been lifted:

a) In accordance with a written agreement between the payment account holder and the payment service provider;

b) When a decision to lift the lockdown is made by a competent authority in accordance with the law;

c) The errors and mistakes in payment transfers as stipulated in point c, clause 1 of this Article have been resolved;

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

3. Payment service providers, payment account holders, and competent authorities that unlawfully freeze or request the freezing of payment accounts, causing damage to the payment account holder, shall be liable for compensation in accordance with the law.

Article 12. Closing payment accounts

1. Closing a payment account is done when:

a) The payment account holder has requested and fulfilled all obligations related to the payment account;

b) The account holder is an individual who has died or been declared dead;

c) The organization with the payment account ceases operations in accordance with the law;

d) The payment account holder violates the prohibited acts regarding payment accounts as stipulated in Clauses 5 and 8 of 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 balances when closing a payment account:

a) Payments shall be made upon request of the payment account holder or in accordance with a prior agreement between the payment account holder and the payment service provider; in cases where the account holder is a person lacking legal capacity, a person with cognitive difficulties or impaired ability to control their actions, or a person with limited legal capacity, payments shall be made upon request of their legal representative or guardian in accordance with civil law; or payments shall be made to the heir or legal representative of the heir in the case where the payment account holder is an individual who has died or been declared dead;

b) Payment shall be made in accordance with the decision of the competent authority as prescribed by law;

c) Take legal action in cases where the legally entitled beneficiary of the payment account balance, after being notified, fails to collect the money.

Section 2. OPENING AND USING A PAYMENT ACCOUNT WITH THE STATE BANK OF VIETNAM

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

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

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

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

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

1. Principles for preparing and submitting documents:

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

b) Copies of documents in the account opening and closing file must be certified copies, copies issued from the original register, or copies accompanied by the original for verification as prescribed by law. In the case of online submission, the procedures for administrative procedures in the electronic environment shall be followed;

c) The application dossier can be sent by mail (postal service) or submitted directly to the One-Stop Service Department of the State Bank of Vietnam where the organization requests to open a payment account, or online at the State Bank of Vietnam's Public Service Portal or the National Public Service Portal;

d) The organization requesting the opening or closing of a payment account is fully responsible before the law for the accuracy and truthfulness of the information provided.

2. Documents required for opening a payment account at the State Bank of Vietnam, including:

a) An application for opening a payment account, accompanied by a registration form for the seal and signature mẫu (Form No. 01) issued with this Decree, signed and stamped 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 legal or authorized representative status of the organization opening the payment account, and the identity card, citizen identification card, electronic identity card, or valid passport of that person;

d) The appointment document or decision and the valid identity card, citizen identification card, electronic identity card, or citizen identification card or passport of the chief accountant or person in charge of accounting, or the 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 of Vietnam, the organization requesting the opening of the payment account shall submit one set of payment account opening documents as prescribed in Clause 2 of this Article to the State Bank of Vietnam (Transaction Department, State Bank of Vietnam branch in the province or city) where the payment account is requested to be opened;

b) Upon receiving the payment account opening application, the State Bank of Vietnam will check the application components and compare them with the information declared in the payment account opening application form, ensuring accuracy and consistency.

If the application for opening a payment account is incomplete, invalid, or contains discrepancies between the information declared in the application form and the related documents in the application file, within one working day from the date of receipt of the application, the State Bank of Vietnam will notify the applicant organization to complete the application file.

Within 05 working days from the date of receiving the request for supplementary documents from the State Bank of Vietnam, if the organization requesting the opening of the account fails to submit the supplementary documents, the State Bank of Vietnam will issue a written refusal to open the payment account and return the documents to the organization requesting the opening of the account;

c) Within two working days of receiving a complete and valid payment account opening application from the organization requesting the opening of a payment account, the State Bank of Vietnam must process the opening of the payment account for the organization. If the State Bank of Vietnam refuses to open the payment account, it must notify the organization of the reasons in writing.

4. Procedures for closing a payment account:

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

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

c) Within 02 working days from the date of receiving the application to close the payment account from the organization that opened the payment account, the State Bank of Vietnam must process the closure of the payment account;

d) In the case of closing a payment account as stipulated in points c, d, and e of Clause 1, Article 12 of this Decree, the handling of any remaining balance in the payment account (if any) after fulfilling all obligations to relevant parties shall be carried out upon the written request of the account holder before a decision to revoke the establishment and operation license is made, according to a decision of a competent state agency or relevant legal provisions. After closing the payment account, within 05 working days, the State Bank of Vietnam shall notify the account-opening organization in writing.

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

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

1. The opening of payment accounts between credit institutions and branches of foreign banks must comply with the regulations in the Law on Credit Institutions. Payment accounts opened between credit institutions and branches of foreign banks are only for payment purposes and may not be used for lending, overdrafts, or other purposes.

2. Credit institutions and branches of foreign banks authorized to conduct foreign exchange operations may open foreign currency payment accounts at other authorized 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 branches of foreign banks shall provide guidance on opening payment accounts for customers in accordance with the regulations of the State Bank of Vietnam and other relevant legal regulations.

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

Chapter III

NON-CASH PAYMENT SERVICES

Section 1. PAYMENT SERVICES THROUGH CUSTOMER PAYMENT ACCOUNTS

Article 17. Payment services through customer payment accounts

1. Payment services via customer's payment account, including:

a) Providing means of payment;

b) Providing payment services: checks, payment orders, payment authorizations, collection orders, collection authorizations, bank cards, money transfers, collection services, disbursement services;

c) Other payment services shall be implemented in accordance with the regulations of the State Bank of Vietnam.

2. Organizations that provide payment services through customers' payment accounts:

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

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

c) Cooperative banks may provide certain payment services as stipulated in Clause 1 of this Article after being listed in the Establishment and Operation License issued by the State Bank of Vietnam.

3. The provision of payment services through customers' payment accounts shall comply with the regulations of the State Bank of Vietnam.

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

Article 18. Payment services not conducted through the customer's payment account.

1. Payment services not processed through the customer's payment account, including:

a) Providing payment services: money transfer, collection of payments, disbursement of payments;

b) Other payment services not conducted through accounts shall be carried out in accordance with the regulations of the State Bank of Vietnam.

2. Organizations that provide payment services without using the customer's payment account:

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

b) Cooperative banks are permitted to provide certain payment services not through customers' payment accounts after being specified in their establishment and operation license issued by the State Bank of Vietnam;

c) People's credit funds are permitted to provide money transfer services and perform collection and disbursement services for their members and customers after being specified in the Establishment and Operation License issued by the State Bank of Vietnam;

d) Microfinance institutions are permitted to provide money transfer, collection, and disbursement services to their customers after being listed in the Establishment and Operation License issued by the State Bank of Vietnam;

d) Enterprises providing public postal services may provide money transfer, collection, and disbursement services after meeting the conditions stipulated in Article 19 of this Decree and receiving written approval from the State Bank of Vietnam.

3. The provision of payment services not conducted through customers' payment accounts shall be carried out in accordance with the regulations of the State Bank of Vietnam.

Article 19. Conditions for providing payment services not through customers' payment accounts by public postal service providers.

Businesses providing public postal services are permitted to offer payment services that do not involve customer payment accounts, provided they fully meet and maintain the following conditions throughout the process of providing such services:

1. There is an information system serving the provision of payment services that do not go through customers' payment accounts, meeting the requirements for information system security level 3 as stipulated by law.

2. Personnel requirements: The legal representative, General Director (Director), and person in charge of providing payment services not through customer payment accounts of a public postal service provider must have a university degree or higher in one of the following fields: economics, business administration, law, or information technology.

Key personnel responsible for providing payment services not through customer payment accounts (including the Head of Department 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 their respective areas of expertise.

3. There are technical business processes for each type of service; measures to ensure solvency, maintaining a larger balance in the unit's bank accounts and cash reserves than the amount payable to customers at the time of payment; internal inspection and control procedures; risk management mechanisms; general principles and internal regulations on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction; procedures for handling requests for verification, complaints, and disputes; and regulations on the rights and responsibilities of the parties involved.

4. Implement a plan for collecting and transporting cash to ensure it is deposited into the payment account opened at the bank at the end of the day, ensuring security and safety in cash circulation; equip facilities to ensure the delivery, receipt, and safekeeping of cash; regulate limits on cash transfers and receipts, and the cash balance at service points; and ensure fire prevention and control in accordance with the law.

Article 20. Dossier, process, and procedures for written approval and revocation of written approval for the provision of payment services not through customer payment accounts by public postal service providers.

1. The application dossier for approval to provide payment services without using the customer's payment account includes:

a) Application for providing payment services not through the customer's payment account, using Form No. 03 issued together with this Decree;

b) Resolution of the Board of Members, or a document from the authorized representative of the owner, in accordance with the authority stipulated in the company's charter, approving the Explanation of Conditions for Providing Payment Services Not Through Customer Payment Accounts;

c) An explanation of the conditions for providing payment services not through the customer's payment account as stipulated in Article 19 of this Decree;

d) Personnel records: Curriculum vitae, certified copies or copies issued from the original register or copies accompanied by the original for verification of qualifications proving the competence and professional qualifications of the legal representatives, General Director (Director), person in charge and key personnel 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 register or copy accompanied by presentation of the original for verification).

2. Approval process and procedures:

a) Enterprises providing public postal services shall submit three sets of application documents for providing payment services not through customer payment accounts as stipulated in Clause 1 of this Article via postal service or directly to the One-Stop Service Department of the State Bank of Vietnam or online at the State Bank of Vietnam Public Service Portal or the National Public Service Portal (for online submissions, the regulations on administrative procedures in the electronic environment shall apply). Enterprises providing public postal services shall be fully responsible before the law for the accuracy and truthfulness of the information provided.

Based on the submitted application, the State Bank of Vietnam will conduct an assessment of the application based on the conditions stipulated in Article 19 of this Decree;

b) Within 05 working days from the date of receiving the application dossier, the State Bank of Vietnam shall send a written request to the public postal service provider to confirm whether the dossier has been received in full or in an incomplete or invalid manner as prescribed.

If the application dossier is incomplete or invalid according to regulations, the State Bank of Vietnam will send a written request to the enterprise to supplement and complete the dossier. The time taken by the enterprise to supplement and complete the dossier will not be included in the appraisal time.

c) Within 60 working days from the date of receiving a complete and valid application, the State Bank of Vietnam will review the application. If more than 60 days have passed since the State Bank of Vietnam issued a request for supplementary documents, but the enterprise fails to submit the supplementary documents, or if the application still does not meet the requirements after two submissions, the State Bank of Vietnam will issue a written refusal to approve the application and return the documents to the public postal service provider.

Within 60 working days from the date of receiving the supplementary and complete application from the public postal service provider, the State Bank of Vietnam shall conduct an assessment and give written approval as prescribed. In case of disapproval, the State Bank of Vietnam shall send a written response to the enterprise, clearly stating the reasons.

3. The validity period of the approval document is 10 years from the date of signing the approval document by the State Bank of Vietnam. In case of extending the validity of the approval document for providing payment services not through customer payment accounts, at least 60 days before the approval document expires, the enterprise is requested to submit 03 sets of documents requesting the extension of the approval document, including: an application to provide payment services not through customer payment accounts 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 application submission; and a copy of the currently valid approval document to the State Bank of Vietnam.

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

The validity period for the approval document is 10 years, calculated from the date the State Bank of Vietnam renews the document for the enterprise.

4. Revoke the approval for providing payment services without using the customer's payment account in the following cases:

a) Enterprises that have been approved in writing by the State Bank of Vietnam to operate payment services without using customer payment accounts are dissolved or declared bankrupt in accordance with the law;

b) Enterprises that have been approved in writing by the State Bank of Vietnam to operate payment services not through customer payment accounts may submit a request to revoke the approval due to the termination of the operation of providing payment services not through customer payment accounts, using Form No. 05 issued together with this Decree;

c) When there is a judgment, enforcement decision, or administrative penalty decision from a competent state agency, or a criminal enforcement agency that requests the revocation of the approval document of the public postal service provider, or when there is a request from a competent state agency, the criminal enforcement agency proposes the revocation of the approval document of the public postal service provider;

d) Enterprises that have received written approval from the State Bank of Vietnam to operate payment services not through customers' payment accounts violate the prohibited acts specified in Clause 8, Article 8 of this Decree;

d) After a period of 03 months from the date the State Bank of Vietnam issues a written notice to the organization that violated one of the conditions in the service provision process stipulated in Article 19 and must implement corrective measures, but the enterprise fails to rectify the situation;

e) Activities that do not comply with the State Bank of Vietnam's approval regarding the provision of payment services not through customers' payment accounts;

g) During the inspection, examination, and supervision of payment service provision activities not conducted through customer payment accounts, it is discovered that for a continuous period of 06 months, the enterprise has not provided payment services not conducted through customer payment accounts.

5. Procedures for reviewing or revoking approval documents for providing payment services not through customer payment accounts by public postal service providers:

a) In the event that an enterprise is dissolved or goes bankrupt as stipulated in point a, clause 4 of this Article, the enterprise shall notify the State Bank of Vietnam in writing within 07 working days from the date of the Decision to dissolve the enterprise as prescribed in the Enterprise Law or the date of receiving the Decision declaring bankruptcy from the People's Court as prescribed by the law on bankruptcy. After 10 working days from the date of receiving the enterprise's notification, the State Bank of Vietnam shall issue a decision to revoke the approval document.

Within 10 working days from the date the State Bank of Vietnam receives the application to revoke the approval for providing payment services without using customer payment accounts as stipulated in point b, clause 4 of this Article, the State Bank of Vietnam shall issue a decision to revoke the approval.

Ten working days after the occurrence of any of the cases specified in points c, d, and e of Clause 4 of this Article, the State Bank of Vietnam shall issue a decision to revoke the approval document;

b) When an enterprise shows signs of violating any of the cases mentioned in points e and g of Clause 4 of this Article, the State Bank of Vietnam shall issue a notice and request the enterprise to provide an explanation.

After 15 working days from the date the State Bank of Vietnam issues the notice, if the approved enterprise does not submit a written explanation or the explanation is unsatisfactory, the State Bank of Vietnam will consider revoking the approval.

6. Immediately upon receiving the State Bank of Vietnam's decision to revoke the approval document, the enterprise whose approval document has been revoked must immediately cease providing payment services that do not go through customers' payment accounts.

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

When a business has fulfilled all obligations and responsibilities between the parties as stipulated by law, after a period of 03 years from the date the business's approval document is revoked in the case specified in Clause 4 (except for point a of Clause 4) of this Article, the business may request to provide payment services not through the customer's payment account as stipulated in Article 19 of this Decree. The process, procedures, and documents shall be implemented according to the provisions of Clauses 1 and 2 of this Article.

Section 3. Participation in the International Payment System

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

1. It has been authorized to conduct basic foreign exchange operations in domestic and international markets.

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

3. The information system meets the requirements for management, safety, and security as stipulated by Vietnamese law; it also has internal regulations on standards for selecting and connecting to international payment systems.

4. Organizations operating international payment systems are legally established and operating 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, e-wallet services, collection and disbursement 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 of Vietnam.

2. Conditions for providing payment intermediary services:

Non-bank organizations and branches of foreign banks are granted licenses by the State Bank of Vietnam to operate payment intermediary services when they fully meet and maintain the following conditions during the provision of payment intermediary services, specifically as follows:

a) Possess a business establishment license or business registration certificate issued by a competent state agency and not currently undergoing division, separation, merger, acquisition, conversion, dissolution, or bankruptcy according to decisions issued during the application process for a Payment Intermediary Service Provider License; in the case of providing financial switching services or electronic clearing services, the organization must ensure that it does not engage in any other business activities besides providing payment intermediary services;

b) Possess a minimum paid-up or allocated charter capital of: VND 50 billion for e-wallet services, collection and disbursement support services, and electronic payment gateway services; VND 300 billion for financial switching services, international financial switching services, and electronic clearing services; and bear full responsibility for the legality of the contributed or allocated capital.

c) Having a payment intermediary service provision plan approved by the competent authority as stipulated in the organization's charter, using Form No. 08 issued together with this Decree;

d) Personnel requirements: The legal representative, 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 have at least 05 years of experience as a manager or executive in the finance or banking sector, and must not be among those prohibited by law; there must always be at least one legal representative residing in Vietnam (If only one legal representative remains residing in Vietnam, that person must authorize another individual residing in Vietnam to exercise the rights and obligations of the legal representative when leaving Vietnam. In this case, the legal representative remains responsible for the exercise of the delegated rights and obligations).

The Deputy General Director (Deputy Director) and key personnel implementing the Payment Intermediary Service Provision Project (including Head of Department 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 the specialized field they are responsible for;

d) The technical solution proposal for providing intermediary payment services for which a license is requested must be approved by the competent authority as stipulated in the organization's charter, meeting the requirements for ensuring information system security level 3 as prescribed by law;

e) For e-wallet services and services supporting collection and payment for customers with accounts at multiple banks and branches of foreign banks, the service provider must be licensed by the State Bank of Vietnam to perform financial transaction switching and electronic clearing services to handle the clearing of obligations arising during the provision of payment intermediary services by the organization;

g) For financial switching services and electronic clearing services, in addition to the conditions stipulated in points a, b, c, d, and e of Clause 2 of this Article, the service provider must: have a clearing settlement organization to settle the results between the relevant parties; have a connection agreement with at least 50 banks and branches of foreign banks whose total charter capital in the year immediately preceding the year of application for a license accounts for more than 65% of the total charter capital of banks and branches of foreign banks in the credit institution system and at least 20 payment intermediary service providers; have information infrastructure that meets at least the requirements for ensuring information system security level 4 as prescribed by law, ensuring the ability to integrate and connect with the technical systems of participating organizations with connection agreements; It has a server system that complies with legal regulations and has the capacity to process at least 10 million payment transactions per day;

Participating organizations are not allowed to connect to more than two financial switching service providers or electronic clearing service providers.

h) For international financial switching services, the service provider must possess a valid license to operate as a financial switching payment intermediary; have a clearing and settlement organization to settle the results of the clearing between the relevant parties; have internal regulations on the criteria for selecting international payment systems to facilitate international financial switching transactions; have internal regulations on the technical operational procedures for the international financial switching service for which a license is requested; and the organization operating the international payment system connected to the international financial switching service provider must be legally established and operating abroad.

3. Within a maximum period of 06 months from the date of issuance of the Payment Intermediary Service Provider License by the State Bank of Vietnam, the licensed organization must provide payment intermediary services to the market and is only permitted to provide payment intermediary services to the market after deploying a technical system that meets the regulations specified in point d, clause 2 of this Article, and meets the regulations specified in points g and 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 applications for the issuance, re-issuance, amendment, supplementation, and revocation of licenses for providing payment intermediary services.

1. Documents must be prepared in Vietnamese. In the case of documents issued, notarized, or certified by competent authorities or organizations of foreign countries, they must be legalized by consular authorities in accordance with Vietnamese law (except in cases where consular legalization is waived according to the law on consular legalization) and translated into Vietnamese.

2. Copies of records and documents must be certified copies, copies issued from the original register, or copies accompanied by the original for verification as prescribed by law. In the case of online submission, the regulations on administrative procedures in the electronic environment shall apply.

3. A self-prepared personal resume with a notarized signature in accordance with the law.

4. Documents can be sent by mail (postal service) or submitted directly to the One-Stop Service Department of the State Bank of Vietnam, or online through the State Bank of Vietnam's Public Service Portal or the National Public Service Portal.

5. Organizations applying for the issuance, re-issuance, amendment, supplementation, or revocation of licenses shall bear full legal responsibility for the accuracy and truthfulness of the information provided.

Article 24. Issuance of Licenses for Payment Intermediary Service Providers

1. The State Bank of Vietnam grants licenses for providing payment intermediary services as stipulated in Clause 1, Article 22 of this Decree to organizations applying for such licenses.

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

a) Application for a license using Form No. 07 issued together with this Decree;

b) Resolutions of the Board of Members, Board of Directors, General Meeting of Shareholders, or documents from authorized representatives of the owner in accordance with the authority stipulated in the company's charter regarding the approval of the Payment Intermediary Service Provision Plan and the Technical Solution Explanation;

c) Payment intermediary service provision plan according to Form No. 08 issued together with this Decree;

d) Technical solution description;

d) Personnel documents: a curriculum vitae in accordance with Form No. 09 issued with this Decree; copies of diplomas proving the competence and professional qualifications of the legal representative, General Director (Director), Deputy General Director (Deputy Director), and key personnel implementing the Payment Intermediary Service Provision Project; a criminal record certificate or equivalent document of the legal representative, General Director (Director) as prescribed by law (issued no more than 06 months prior to the application for a license); a document from the competent representative of the unit where the legal representative, General Director (Director) has worked or is currently working confirming their position and duration of service, or a copy of a document proving their position and duration of service at the unit.

e) Copies of documents proving that the organization applying for the license is legally established and operating, including: establishment license or business registration certificate or equivalent documents; charter and operational regulations of the organization; investment certificate of foreign investors (if any);

g) Written commitment and supporting documents from the owner, founding members, or founding shareholders of the organization guaranteeing the maintenance of the actual value of the charter capital;

h) For financial switching services and electronic clearing services: a plan for settling the clearing results between the relevant parties as stipulated in Form No. 08 issued with this Decree; a written agreement on connection with participating organizations, containing a commitment not to connect more than two organizations providing financial switching services or electronic clearing services; documents proving that the information infrastructure and server systems meet the requirements specified in point g, clause 2, Article 22 of this Decree;

i) For international financial switching services: Internal regulations on the criteria 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 the international financial switching service for which a license is requested; a copy of the document proving that the organization operating the international payment system is legally established and operating abroad, issued by the competent authority of the country or territory where the organization is established or has its head office; a plan for settling the results of clearing between the relevant parties as stipulated in Form No. 08 issued with this Decree.

3. Procedures for issuing licenses

In cases where applications are submitted by mail (postal service) or directly to the One-Stop Service Department of the State Bank of Vietnam, the organization requesting the license must submit two sets of documents and six CDs (or six USB drives) containing scanned copies of the complete application for the license as prescribed in Clause 2 of this Article. Based on the application for the license, the State Bank of Vietnam, in coordination with relevant ministries and agencies, will conduct an assessment of the application based on the conditions stipulated in Clause 2, Article 22 of this Decree.

a) Within 05 working days from the date of receiving the application for a license, the State Bank of Vietnam shall send a written confirmation to the organization that it has received a complete and valid application. If the application is incomplete or invalid, the State Bank of Vietnam shall send a written request to the organization to supplement and complete the application. The time for supplementing and completing the application shall not be included in the application review time.

Within 60 days from the date the State Bank of Vietnam issues a written request for additional documents, if the organization applying for the license fails to resubmit the documents or the supplementary documents do not meet the requirements, the State Bank of Vietnam shall issue a written request to return the documents to the organization.

b) Within 90 working days from the date of receiving a complete and valid application, the State Bank of Vietnam will conduct an assessment of the application. If the organization fails to resubmit the application within 60 days from the date the State Bank of Vietnam issues a written request for clarification or completion of the application, the State Bank of Vietnam will issue a written request to return the application to the organization.

Within 90 working days from the date of receiving the supplementary and complete application from the organization, the State Bank of Vietnam will conduct an assessment and issue the license in accordance with regulations. In case the license is not granted, the State Bank of Vietnam will send a written response to the organization, clearly stating the reasons;

c) From the date the State Bank of Vietnam receives a complete and valid application dossier, the organization applying for the license may submit supplementary and complete dossiers up to two times; the maximum time for submitting supplementary and complete dossiers by the organization shall not exceed 60 days from the date the State Bank of Vietnam sends a written confirmation to the organization that it has received a complete and valid application dossier.

4. Procedures for implementing activities after obtaining the license.

At least 30 working days before the expected date of providing payment intermediary services to the market and no more than 06 months from the date of receiving the license from the State Bank of Vietnam, the organization that has been granted the license to provide payment intermediary services must notify and provide documents proving to the State Bank of Vietnam that: the technical system meets the conditions stipulated in point d, clause 2, Article 22 of this Decree; a copy of the technical acceptance report for licensed payment intermediary services with a cooperating bank for e-wallet services, collection and disbursement support services, and electronic payment gateway services according to Form No. 10 issued with this Decree; and documents proving that an organization has settled the results of clearing between relevant parties for financial switching services, electronic clearing services, and international financial switching services meeting the conditions stipulated in points g and h, clause 2, Article 22 of this Decree.

Within 15 working days from the date of receiving complete dossiers and documents, the State Bank of Vietnam shall conduct an on-site inspection at the payment intermediary service provider and issue a written notice on whether or not the requirements specified in points d, g, and h of Clause 2, Article 22 of this Decree are met. If the requirements are not met, the State Bank of Vietnam shall consider revoking the Payment Intermediary Service Provider License as stipulated in point e of Clause 1, Article 27 of this Decree.

5. License Validity Period

The operating period stated on the License is 10 years from the date the organization is granted the License by the State Bank of Vietnam. For international financial switching services, the operating period must not exceed the operating period stated on the Financial Switching Service Provider License.

Article 25. Reissuance of Licenses for Payment Intermediary Service Providers

The State Bank of Vietnam reissues the license to operate payment intermediary services in the following cases:

1. The license has expired.

At least 60 days before the expiration date stated on the License, the payment intermediary service provider must submit an application for license renewal to the State Bank of Vietnam. If the application is sent by mail (postal service) or submitted directly to the One-Stop Service Department of the State Bank of Vietnam, the payment intermediary service provider must submit three sets of documents for license renewal, including: an application for license renewal using Form No. 11 issued with this Decree, a report on the operation under the License from the date of issuance to the date of application for license renewal, and a copy of the currently valid License to the State Bank of Vietnam.

Within 30 working days from the date of receiving the application for license renewal from the organization, the State Bank of Vietnam will consider renewing the license or issue a written notice of refusal stating the reasons;

The operating period stated on the License is 10 years from the date the organization is re-issued the License by the State Bank of Vietnam.

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

The payment intermediary service provider shall submit an application for license renewal using Form No. 11 issued together with this Decree, clearly stating the reason. Within 10 working days from the date of receipt of the application for license renewal from the organization, the State Bank of Vietnam shall consider renewing the license or issue a written notice of refusal clearly stating the reason;

The operating period stated on the License remains the same as the operating period on a License that has been lost, torn, burned, or otherwise destroyed.

Article 26. Amendments and additions to the License for providing payment intermediary services.

1. In the event of a change to any of the contents stipulated in the Payment Intermediary Service Provider License, such as: the name of the organization, the location of the head office, the cessation of providing one or more licensed payment intermediary services, or the addition of an international payment system of an international financial switching service provider:

a) The payment intermediary service provider shall submit one set of documents requesting amendment and supplementation of the License, including: an application for amendment and supplementation of the Payment Intermediary Service Provider License according to Form No. 12 issued with this Decree; a copy of the valid Payment Intermediary Service Provider License; a copy of the business registration certificate with the changed business name, or the investment registration certificate for foreign investors (if any); and a report on the implementation of payment intermediary service provision activities from the date of issuance of the License to the date of submission of the application for amendment and supplementation of the License.

In cases where a request is made 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 of Vietnam shall receive and assess the validity of the application for amendment or supplementation of the License within 05 working days from the date of receipt of the application and decide on the amendment or supplementation of the License for providing payment intermediary 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 of Vietnam shall send a written response to the organization stating the reasons;

c) The operating period stated on the amended or supplemented license shall not exceed the operating period stated on the license for providing payment intermediary services;

d) For payment intermediary services proposed for cessation, the payment intermediary service provider must cease providing the service after the State Bank of Vietnam amends and supplements the License. Within 30 days from the date of the amendment and supplementation of the License by the State Bank of Vietnam, the payment intermediary service provider must send written notice to relevant organizations and individuals to terminate the contract and complete all obligations and responsibilities between the relevant parties in accordance with the law.

2. In the event of changes to any of the following: the legal representative, changes to charter capital, changes to the ownership ratio of charter capital by the owner; division, separation, merger, acquisition, or conversion of the enterprise, within the validity period of the License, the payment intermediary service provider is not required to apply for amendment or supplementation of the License but must notify the State Bank of Vietnam in writing and provide supporting documents (if any) within 30 days from the date of the aforementioned changes.

Article 27. Revocation of the License to operate as a payment intermediary service provider.

1. The State Bank of Vietnam will consider revoking the license in one of the following cases:

a) The payment intermediary service provider is dissolved or goes bankrupt in accordance with the law;

b) An organization providing payment intermediary services submits a request for revocation of its license due to the termination of its licensed payment intermediary service activities, using Form No. 15 issued with this Decree;

c) When a judgment, enforcement decision, or administrative penalty decision of a competent state agency takes effect, or when the criminal enforcement agency contains a request to revoke the license of the payment intermediary service provider, or when there is a written request from a competent state agency, the criminal enforcement agency proposes to revoke the license of the payment intermediary service provider;

d) Organizations providing intermediary payment services that use or exploit payment accounts, payment instruments, payment services, or intermediary payment services for gambling, organizing gambling, fraud, illegal business activities, money laundering, terrorist financing, or financing the proliferation of weapons of mass destruction;

d) After a period of 03 months from the date the State Bank of Vietnam issues a written notice to the organization violating one of the conditions in the service provision process as stipulated in points a, b, c, d, e, g, Clause 2, Article 22, the technical system does not meet the regulations in point e, Clause 2, Article 22 of this Decree and must implement corrective measures but the organization fails to rectify them;

e) An organization providing intermediary payment services that does not comply with the provisions of Clause 3, Article 22 of this Decree, fails to provide supporting documents, or provides supporting documents that do not comply with the provisions of Clause 4, Article 24 of this Decree, and after a period of 03 months from the date the State Bank of Vietnam issues a written notice requesting the organization to implement corrective measures, the organization fails to rectify the situation;

g) During the inspection, examination, and supervision of payment intermediary service provision activities, it is discovered that for a continuous period of 06 months, the organization has not performed the licensed payment intermediary service activities for customers;

h) Payment intermediary service providers repeatedly violate regulations by falsely reporting the balance and number of e-wallets.

2. Procedures for revoking licenses

a) In the event that an organization is dissolved or goes bankrupt as stipulated in point a, clause 1 of this Article, the organization shall submit a request for revocation of its license using Form No. 15 issued together with this Decree to the State Bank of Vietnam within 07 working days from the date of approval of the decision to dissolve the enterprise as stipulated in the Enterprise Law or the date of receipt of the bankruptcy declaration decision of the People's Court as stipulated in the law on bankruptcy. Within 10 working days from the date of receiving the notification from the organization, the State Bank of Vietnam shall issue a decision to revoke the license.

Within 10 working days from the date the State Bank of Vietnam receives the application for revocation of the license due to the termination of payment intermediary service provision by the payment intermediary service provider specified in point b, clause 1 of this Article, the State Bank of Vietnam shall issue a decision to revoke the license.

Within 20 working days from the date of occurrence of one of the cases specified in points c, d, e, and f of Clause 1 of this Article, the State Bank of Vietnam shall issue a decision to revoke the License.

b) When an organization providing intermediary payment services shows signs of violating the cases mentioned in points g and h of Clause 1 of this Article, the State Bank of Vietnam shall consider revoking the License and issuing a notice requesting the organization to provide an explanation.

After 20 working days from the date the State Bank of Vietnam issues the notice, if the licensed organization fails to provide a written explanation or the explanation is unsatisfactory, the State Bank of Vietnam will issue a decision to revoke the license.

3. Upon receiving the State Bank of Vietnam's decision to revoke the license, the organization whose license has been revoked must immediately cease providing payment intermediary services.

Within 30 days from the date of the State Bank of Vietnam's decision to revoke the license, the organization whose license has been revoked must send written notices to relevant organizations and individuals to finalize contracts and fulfill all obligations and responsibilities between the parties in accordance with the law.

When an organization whose license has been revoked has fulfilled all obligations and responsibilities between the parties as prescribed by law, after a period of 03 years from the date of license revocation in the case specified in Clause 1 of this Article, the organization may apply for a license to operate as a payment intermediary service provider as prescribed in Article 22 of this Decree. The process, procedures, and application documents for a license shall be carried out in accordance with Articles 23 and 24 of this Decree.

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

1. Responsibilities for coordination during the evaluation process

a) The State Bank of Vietnam shall send a written request for opinions from the Ministry of Public Security and relevant agencies regarding the compliance with relevant legal regulations by the organization and its legal representative during its operation before considering the issuance, re-issuance, amendment, supplementation, and revocation of the License as prescribed in Article 24, Clause 1 of Article 25, Clause 1 of Article 26, Points d and g of Clause 1 of Article 27 of this Decree;

b) Within 15 working days from the date of receiving the document from the State Bank of Vietnam, the relevant ministries and agencies mentioned in point a) of this clause shall provide their written opinions to the State Bank of Vietnam;

c) The State Bank of Vietnam shall consider granting, re-granting, amending, supplementing, and revoking licenses based on the submitted documents and opinions of relevant ministries and agencies.

2. The State Bank of Vietnam shall publicly announce the issuance, re-issuance, amendment, supplementation, and revocation of licenses for payment intermediary services provided by payment intermediary service providers on the State Bank of Vietnam's electronic portal. Payment intermediary service providers must publicly announce their licenses, amendment/supplementation decisions, and license revocation decisions on their official websites so that customers are aware.

Chapter V

RESPONSIBILITIES OF THE PARTIES INVOLVED

Article 29. Ensuring safety and security in payments

1. Payment service providers and payment intermediary service providers must implement security and safety measures in payments as prescribed by law and are required to implement security measures in payment operations in accordance with relevant legal regulations. Customers using the service are obligated to comply with the security and safety measures in payments as prescribed and guided by the service providers.

2. Payment service providers and payment intermediary service providers must implement measures to inspect and supervise payment acceptance units in order to detect and resolve, or propose to competent state agencies to handle, violations of payment activities in accordance with the law.

3. Payment service providers and payment intermediary service providers must implement risk management measures to prevent and combat the use and misuse of payment instruments, payment services, and payment intermediary services for gambling, organizing gambling, conducting fictitious payment transactions (payment transactions for goods or services that do not involve the purchase or sale of goods or provision of services), or other violations of the law.

4. Payment intermediary service providers and related organizations and individuals are obligated to provide complete information, documents, and certificates as required by the payment service provider when making foreign currency and international payments as stipulated in Clauses 3 and 5 of Article 5 of this Decree, and are legally responsible for the authenticity of the documents and certificates presented. Payment service providers must apply measures to review, verify, and retain documents and certificates related to actual transactions to ensure that foreign currency and international payments are made for the intended purpose and in accordance with the law.

Article 30. Right to information and reporting

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

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

Article 31. Obligations regarding information and reporting

1. Payment service providers and payment intermediary service providers are obligated to report and provide information to competent state agencies in accordance with the law.

2. Payment service providers and payment intermediary service providers are obligated to provide information on transactions and account balances of payment account holders, and transactions and balances of e-wallet holders, in accordance with 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 or individuals to provide information related to accounts, transactions, and account balances, e-wallets, and transactions and e-wallet balances, except at the request of competent state agencies as prescribed by law or with the consent of the customer.

2. Obligation to maintain confidentiality of information

Payment service providers and payment intermediary service providers are responsible for maintaining the confidentiality of information related to accounts, transactions, and account balances, e-wallets, and transactions and balances in e-wallets, except with the customer's consent or as otherwise provided by law.

Chapter VI

MONITORING ACTIVITIES

Article 33. Supervision of key payment systems in the economy

1. The State Bank of Vietnam issues regulations on the supervision and implementation of supervision of important payment systems in the economy to contribute to strengthening the stable and safe operation of important payment systems in the economy.

2. The State Bank of Vietnam identifies key payment systems subject to its supervision. The State Bank of Vietnam supervises these key payment systems through remote monitoring, on-site inspections, and other measures as necessary, provided that these measures do not hinder the normal operation of the system and its operational organization.

3. The State Bank of Vietnam has the right to request the operating organization, settlement bank, and members participating in the important payment system to provide information related to the system.

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

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

Article 34. Supervision of payment service provision activities

1. The State Bank of Vietnam shall determine the scope, issue regulations on supervision, and supervise the provision of payment services.

2. The State Bank of Vietnam supervises payment service provision activities through remote monitoring, on-site inspections, and other necessary measures, provided that these measures do not hinder the normal operation of payment service providers.

3. The State Bank of Vietnam has the right to request payment service providers to provide information related to their payment service operations.

4. Payment service providers are responsible for providing information related to their payment service operations at the request of the State Bank of Vietnam and are responsible for complying with regulations and fulfilling the supervisory requirements of the State Bank of Vietnam.

Article 35. Supervision of payment intermediary service provision activities

1. The State Bank of Vietnam issues regulations on the supervision and implementation of supervision of the payment intermediary service provision activities of organizations licensed by the State Bank of Vietnam.

2. The State Bank of Vietnam supervises the provision of payment intermediary services through remote monitoring, on-site inspections, and other necessary measures, provided that these measures do not hinder the normal operation of payment intermediary service providers.

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

4. Payment intermediary service providers are responsible for providing information related to their payment intermediary service activities at the request of the State Bank of Vietnam and are responsible for complying with regulations and fulfilling the supervisory requirements of the State Bank of Vietnam.

5. Payment intermediary service providers must develop and provide online monitoring tools for the State Bank of Vietnam to supervise their payment intermediary service activities before officially offering services to customers in the market.

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

Chapter VII

TERMS ENFORCEMENT

Article 36. Transitional provisions

1. Commercial banks and branches of foreign banks that participated in international payment systems before the effective date of this Decree may continue to participate in those international payment systems. Within 24 months from the effective date of this Decree, commercial banks and branches of foreign banks are responsible for meeting the business conditions stipulated in Article 21 of this Decree and completing the procedures for requesting approval to participate in international payment systems as prescribed by the Governor of the State Bank of Vietnam; after the aforementioned period, commercial banks and branches of foreign banks must cease participation in international payment systems not listed in their licenses.

2. Organizations providing payment intermediary services that were licensed to provide electronic money transfer support services (as stipulated in Clause 5, Article 3 of Circular No. 39/2014/TT-NHNN dated December 11, 2014 of the State Bank of Vietnam guiding payment intermediary services) and whose operating licenses for payment intermediary services were issued before the effective date of this Decree, may 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 already connected to international payment systems may continue to connect with those international payment systems. Within 24 months from the effective date of this Decree, licensed financial switching service providers are responsible for meeting the business conditions and completing the procedures for applying for a license to operate international financial switching services as stipulated in this Decree; after the aforementioned period, the organization must terminate its connection with international payment systems not listed in its license to operate international financial switching services.

4. Enterprises providing public postal services may continue to provide payment services without using payment accounts in accordance with the law. Within 24 months from the effective date of this Decree, enterprises providing public postal services are responsible for meeting the business conditions and completing the procedures for requesting approval to operate payment services without using customer payment accounts as stipulated in this Decree; after the aforementioned period, the enterprise must cease providing payment services.

5. Organizations providing payment intermediary services that were licensed to provide payment intermediary services before the effective date of this Decree may continue to operate under the licenses already granted by the State Bank of Vietnam until the licenses expire, except in cases where the organization applies for a license in accordance with the provisions of this Decree.

Article 37. Enforcement

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

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

Article 38. Responsible for implementing

Ministers, heads of ministerial-level agencies, heads of government agencies; Chairpersons of People's Committees of provinces and centrally-administered cities; Chairpersons of Boards of Directors, Chairpersons of Boards of Members and General Directors (Directors) of credit institutions, branches of foreign banks; Chairpersons of Boards of Directors, Chairpersons of Boards of Members, Chairpersons 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; – Office of the Government: Minister, Deputy Ministers, Assistant to the Prime Minister, Director General of the Government Portal, Departments, Bureaus, subordinate units, Official Gazette; – Save: VT, KTTH (2).

TM. GOVERMENT Acting Prime Minister DEPUTY PRIME MINISTER Le Minh Khai

 

APPENDIX

LIST OF SAMPLE DOCUMENTS, FILES, AND PROCEDURES
(Attached to Decree No. 52/2024/ND-CP dated June 15, 2024 of the Government)

Sample number 01	Application form for opening a payment account at the State Bank of Vietnam
Sample number 02	Application form for closing a payment account at the State Bank of Vietnam
Sample number 03	Application form for requesting payment services that do not use the customer's payment account.
Sample number 04	Sample Decision on Approving the Operation of Providing Payment Services Without Using Customer Payment Accounts
Sample number 05	Sample application form for revoking approval to provide payment services without using customer payment accounts.
Sample number 06	Sample Decision on the Revocation of the Approval Document for Providing Payment Services Without Using Customer Payment Accounts
Sample number 07	Application form for a license to operate as a payment intermediary service provider.
Sample number 08	Contents of the project proposal for providing intermediary payment services.
Sample number 09	Resume template
Sample number 10	Technical Acceptance Report Template
Sample number 11	Application form for renewal of payment intermediary service license
Sample number 12	Application form for amending and supplementing the License for providing payment intermediary services.
Sample number 13	Sample License for Granting/Re-granting Payment Intermediary Service Provider Activities
Sample number 14	Sample Decision on approving amendments and additions to the content of the License for providing intermediary payment services.
Sample number 15	Application form for revocation of payment intermediary service license
Sample number 16	Sample Decision on the Revocation of the License to Operate Payment Intermediary Services

 

Sample number 01

NAME OF THE ORGANIZATION THAT OPENED 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): ……………………………………………………

– Name used for transactions: ……………………………………………………………………

Decision to establish number: ……………………………….Date of issue…………………….

Issuing authority: ………………………………………………………………………………………

Business License/Business Registration Certificate No.: ...................

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 residence^*: ………………………………………………………………………………

Current address (if different from permanent address): ……….Phone number:……………….

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

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

Chief Accountant's Full Name (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 identity card, citizen identification card) or citizen identification number or passport number:……………; Date of issue:…….; Valid until:….; Place of issue:…………

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

We request to open a payment account at: .........................................................

Currency type: □ VND □ USD □ Other……………

Our commitment:

– The information provided above is true and accurate, and I take full responsibility for the accuracy and truthfulness of the documents attached to my payment account opening application.

– We fully and correctly comply with all current legal regulations regarding the opening and use of payment accounts at the State Bank of Vietnam and accept responsibility for any issues arising from our failure to fully and correctly comply with the regulations on opening and using accounts as stipulated by the State Bank of Vietnam.

– A written document (including relevant papers) must be submitted to the State Bank of Vietnam whenever there are any changes to the information on the payment account or the registered seal and signature samples used with the State Bank of Vietnam.

 

Attachments: 1) Registration form for seal and signature, along with authorization letter (if applicable); 2) Decision No.……………….. 3) …………………………………

LEGAL REPRESENTATIVE (Signature, full name, and seal)

 

SECTION FOR THE STATE BANK

After reviewing and verifying that the payment account opening documents of ……………… are complete and valid, the State Bank of …………………… agrees to open payment account number: ………………… for ……………………………………………..

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

 

HEAD OF ACCOUNTING (Sign, write full name)

EXCHANGE DIRECTOR STATE BANK OF VIETNAM DIRECTOR OF THE STATE BANK BRANCH……………. (Signature, full name, and seal)

Note: If the State Bank of Vietnam receiving the application for opening a payment account is eligible to access and utilize information in the National Population Database, then the organization opening the payment account is not required to declare the information marked with (*).

 

 REGISTRATION FORM FOR SEAL AND SIGNATURE USED FOR PAYMENT ACCOUNTS AT THE STATE BANK OF VIETNAM

(Attached is Account Opening Application Form No. …… dated… of……)

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

Business address: ………………………….Business phone number: …………………..

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

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

Where to open a payment account: …………………………………………………….

Please register the signature and seal samples to be used on transaction documents with the State Bank of Vietnam as follows:

1. Signature sample

Signature registration	First signature sample	Second signature sample
1. The legal representative of the account holder: 1.1. First legal representative: Full name:………………………… Personal identification number (for identity card, citizen identification card)/national identity card number/passport number:…………………………. Date of issue:………………………… Valid until:…………………………. Issuing authority:…………………………………… Scope of representation:…………………………..
1.2. Second legal representative: Full name:………………………………………. Personal identification number (for identity card, citizen identification card)/national identity card number/passport number:………………………………. Date of issue:………………………….. Valid until:………………………. Issuing authority:………………………………. Scope of representation:…………………………
1.3. Third-party legal representative: Full name:…………………………………………………. Personal identification number (for identity card, citizen identification card)/national identity card number/passport number:……………………………………………. Date of issue: ………………………………………… Valid until:……………………………………. Issuing authority: …………………………………………… Scope of representation:…………………………
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 identity card, citizen identification card)/national identity card number/passport number: …………………………………………. Date of issue:………………………….. Valid until: ……………………………….. Issuing authority:……………………………………….
2.2. First authorized person: Full name:……………………………………….. Personal identification number (for identity card, citizen identification card)/citizen identification number/passport number:………………… Date of issue:………………………………………………….. Valid until: ……………………………………………. Issuing authority:……………………………………………………. Authorization document number…………………. dated………… Authorization period:…………………………………….. Scope of authorization:………………………………………
2.3 Second authorized person: Full name:…………………………………… Personal identification number (for identity card, citizen identification card)/national identity card number/passport number: …………………….. Date of issue:………………………………………. Valid until:……………………………………… Issuing authority:……………………………………………………. Authorization document number………………….. dated………. Authorization period:…………………………………….. Scope of authorization:………………………………………

2. Stamp design

First stamp sample	Second stamp sample

 

……… day…month….year…. LEGAL REPRESENTATIVE (Signature, full name, and seal)

 

SECTION FOR THE STATE BANK

After verifying that the signature and seal of ……………………………… are valid, the State Bank of Vietnam ……………………………… approves the Registration of Seal and Signature for use in payment accounts at the State Bank of Vietnam ………………………, attached to payment account number: …………… of ………………….

Effective date: ………………………………………………………

 

HEAD OF ACCOUNTING (Sign, write full name)

EXCHANGE DIRECTOR STATE BANK OF VIETNAM DIRECTOR OF THE STATE BANK BRANCH……. (Signature, full name, and seal)

_________________________________________________________________________________________________________

Sample number 02

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

APPLICATION FOR CLOSING A PAYMENT ACCOUNT AT THE STATE BANK

To: ……………………..

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

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

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

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

– Name used for transactions: ……………………………………………………………………

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

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

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

Opened at ……………………………………………………………………………………….

The balance in the payment account should be processed as follows:

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

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

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

Our commitment:

– Comply fully with all current legal regulations regarding the closure of payment accounts at the State Bank of Vietnam;

– Fulfill all obligations related to the payment account with the State Bank of Vietnam.

 

LEGAL REPRESENTATIVE (Signature, full name, and seal)

 

SECTION FOR THE STATE BANK

After reviewing and processing the request to close the payment account of …………………….

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

 

HEAD OF ACCOUNTING (Sign, write full name)

EXCHANGE DIRECTOR STATE BANK OF VIETNAM DIRECTOR OF THE STATE BANK BRANCH…….. (Signature, full name, and seal)

_________________________________________________________________________________________________________

Sample number 03

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

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

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated …/…/… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders of the Public Postal Service Provider dated… month… year… unanimously agreeing to propose providing payment services without using customers' payment accounts;

(A public postal service provider) requests the State Bank of Vietnam to consider approving the provision of payment services without using customers' payment accounts, with the following specific details:

1. Name of the enterprise providing public postal services:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

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

3. Business Registration Number/Tax Identification Number:

4. Location of the head office, telephone number, fax number, email address.

5. Name and content of the payment services offered that are not processed through the customer's payment account:

- ...

- ...

- ...

We are committed to meeting and strictly complying with the conditions stipulated in Government Decree No. .../ND-CP dated .../.../... regulating cashless payments and related documents. If we violate these regulations, we will be fully responsible before the law.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

_________________________________________________________________________________________________________

Sample number 04

STATE BANK VIETNAM ---	SOCIAL REPUBLIC OF VIETNAM Independence - Freedom - Happiness -----
Number: …/QD-NHNN	Hanoi, [date] [month] [year]

DECISION

Regarding the approval of payment service provision activities that do not involve customer payment accounts.

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Considering the Application for approval to provide payment services without using customer payment accounts and the attached documents from the Public Postal Service Provider;

As requested by the Director of the Payment Department.

DECISION:

Article 1. Approval is granted to allow the provision of payment services without using the customer's payment account:

1. Name of organization:

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

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

2. Business registration number:

3. Location of the head office:

Article 2. The following payment services are not accepted through the customer's payment account:

Article 3. Other terms and conditions:

Article 4. In the process of providing payment services not through customers' payment accounts, the public postal service provider must comply with the regulations in Government Decree No. ... dated ... of the Government on non-cash payments and its amendments and supplements (if any); Circular No. ... dated ... of the State Bank of Vietnam on non-cash payment services and its amendments and supplements (if any); and other relevant legal regulations.

Article 5. Effective date

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

 

Recipients: - As Article 1; – The leadership of the State Bank of Vietnam; – IT Department, PC Division (for coordination); – CQTTGSNH (for coordination); – State Bank of Vietnam branch …. (for coordination); - Save: ….

GOVERNOR

_________________________________________________________________________________________________________

Sample number 05

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

APPLICATION FOR REVOCATION OF APPROVAL FOR PROVIDING PAYMENT SERVICES WITHOUT USING THE CUSTOMER'S PAYMENT ACCOUNT

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on the Resolution of the meeting of the Board of Members/Board of Directors/General Meeting of Shareholders of the Public Postal Service Provider dated… month… year… unanimously agreeing to request the revocation of the approval document for providing payment services without using customer payment accounts as stipulated in Decision No… dated… month… year… issued by the State Bank of Vietnam;

(Public postal service provider) We propose the revocation of the approval document for providing payment services without using customer payment accounts, effective from [date] [month] [year]. Therefore, we request the State Bank of Vietnam to consider revoking Decision No. [date] [month] [year] regarding the approval of providing payment services without using customer payment accounts, with the following specific content:

1. Name of the enterprise providing public postal services:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

2. Establishment License/Business Registration Certificate No. ... issued by ... on ... day ... month ... year ...

3. Business Registration Number/Tax Identification Number:

4. Location of the head office, telephone number, fax number, email address:

5. Document approving the provision of payment services without using customer payment accounts. Decision No. ... issued by the State Bank of Vietnam on ... day ... month ... year ...

6. Reasons for requesting the recall: (Specify details as stipulated in Clause 4, Article 20 of Government Decree No. .../.../ND-CP dated .../.../... regulating non-cash payments).

7. Timeframe for terminating the provision of payment services not through the customer's payment account:

We hereby declare that we have fulfilled all tax obligations, debts, assets, and customer rights, and assume full legal responsibility for the legality, accuracy, and truthfulness of the contents of this Application. If we violate these obligations, we will bear full legal responsibility.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

_________________________________________________________________________________________________________

Sample number 06

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

DECISION

Regarding the revocation of the Approval Document for providing payment services without using customer payment accounts.

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on 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 any amending or supplementary documents (if any);

Based on …………………………………………………………..

As requested by the Director of the Payment Department.

DECISION:

Article 1. Revoke the Decision No. …/QD-NHNN dated …/…/… issued by the State Bank of Vietnam to the Public Postal Service Provider Enterprise, approving the provision of payment services without using customer payment accounts.

Article 2. Other terms(s)

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

 

Recipients: - As Article 1; – The leadership of the State Bank of Vietnam; – IT Department, PC Division (for coordination); – CQTTGSNH (for coordination); – State Bank of Vietnam branch …. (for coordination); - Save: ….

GOVERNOR

_________________________________________________________________________________________________________

Sample number 07

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

APPLICATION FOR A LICENSE TO OPERATE AS A PAYMENT INTERMEDIARY SERVICE PROVIDER

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated …/…/… of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

Based on 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… unanimously agreeing on the request for issuance of the Certificate License to operate as a payment intermediary service provider;

……(1)…… We request that the State Bank of Vietnam consider granting a license to operate as a payment intermediary service provider with the following specific details:

1. Name of the organization applying for a license to operate as a payment intermediary service provider:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

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

3. Business Registration Number/Tax Identification Number:………………………………….

4. Location of the head office, telephone number, fax number, email address.

5. Name(s) of the payment intermediary service(s) for which a license is requested:

………………

We are committed to complying with and strictly adhering to the regulations of the law and the State Bank of Vietnam; we are fully responsible for the accuracy and truthfulness of the content of the application for a license; and we will not copy or forge any documents proving our eligibility to be granted a license to operate payment intermediary services in the application. If we violate this, we will bear full legal responsibility.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

Note: …(1)… Name of the organization applying for a license to operate as a payment intermediary service provider.

_________________________________________________________________________________________________________

Sample number 08

PROJECT CONTENT FOR PROVIDING PAYMENT INTERMEDIARY SERVICES

In the application dossier for a Payment Intermediary Service Provider License, the Payment Intermediary Service Provider Plan must include at least the following contents:

STT	Write comment here...	Specific criteria
1	General introduction to the organization applying for a license to operate as a payment intermediary service provider.	– Name of the organization. – The process of formation and development. – Business sectors and occupations. – Orientation and implementation of payment intermediary services after obtaining the license. – Other related information (if any).
2	Technical business process for the service application for licensing.	– Service name. – Scope of supply. – Target customers. – Terms of Use. – Diagrams and explanations of the steps involved in the business process. – The cash flow process from transaction initiation to settlement of obligations between the parties involved in e-wallet services and payment collection and disbursement support services.
3	The mechanism for opening and maintaining the balance of the payment guarantee account, and the purpose of using the payment guarantee account for e-wallet services.	– Organizations providing e-wallet services must open an account to guarantee payments for the provision of e-wallet services. Maintaining a sufficient total balance across all accounts ensures payment for the e-wallet service. – The purpose of using the account is to secure payment for e-wallet services in accordance with the law.
4	Mechanism for ensuring solvency for collection and disbursement support services.	– Establish a mechanism to ensure the solvency of collection and disbursement support services in compliance with legal regulations.
5	Internal audit and control procedures	– Develop internal regulations on internal audit and control, including: Purpose and requirements; implementation procedures; and responsibilities of relevant departments.
6	Risk management process, ensuring safety and security.	– Regulations on risk management, safety, and security ensure compliance with the State Bank of Vietnam's regulations in electronic banking operations. – Regulations on the creation, use, preservation, and storage of electronic documents in accordance with the law on electronic transactions in banking operations. – Assess potential risks and corresponding risk management measures in the process of providing payment intermediary services. – Develop internal procedures regarding specific risk management policies and measures.
7	General principles and internal regulations on preventing and combating money laundering, terrorist financing, and financing the 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 are consistent with the provisions of the law on preventing and combating money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction.
8	Procedures and processes for handling requests for review, complaints, and disputes.	– Regulations regarding the handling or response to customer complaints and inquiries, clearly specifying: the channels for receiving complaints, the receiving department, the steps for guiding customers in filing complaints, the complaint processing procedures within the payment intermediary organization, and when coordination with relevant units is required. – The process, procedures, specific responsibilities of each party involved, timeline for each step, and the results delivered to the complaining customer.
9	The method involves an organization settling the results of clearing between the relevant parties for financial switching services, electronic clearing, and international financial switching.	– Organize the settlement process. – Scope of settlement. – Conditions for final settlement. – Currency of settlement; applicable exchange rate (if any). – Settlement account. – Settlement process: Settlement timeline, flowchart and explanation of settlement steps, dispute resolution, fees, measures for identifying, preventing, and handling risks during the settlement process (including the risk of settling financial obligations when participating parties become insolvent). – Rights and responsibilities of members and stakeholders. – Connections with other payment systems (if any).

_________________________________________________________________________________________________________

Sample number 09

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

CURRICULUM VITAE ⁽¹⁾

 

1. About myself – Full name: – Date of birth (day, month, year)*: – Nationality(s) (if applicable) *: – Place of residence*:

Passport photo (4x6cm)

– Current address (if different from registered permanent address):

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

2. Educational level

– General education:

– Academic title and degree (clearly state the name and address of the school; major; duration of study; qualifications (list all qualifications):

3. Work experience:

– Occupation, workplace, and position held from age 18 to the present ⁽²⁾:

STT	Time period (from month/year to month/year) (3)	Work unit	position(4)	Business activities and assigned tasks	Note

– Rewards and disciplinary actions:

4. Civil legal capacity ⁽⁵⁾

5. Information regarding prohibitions from holding office, establishing, or managing businesses or cooperatives (in cases where the criminal record certificate or equivalent document issued by a competent foreign authority does not contain this information).

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

7. I (full name of the person filling out the resume) hereby declare:

– Meets the requirements to hold the position of… at… (Name of the organization applying for the license to operate as a payment intermediary service provider).

– No violations of legal regulations in the monetary and banking sector.

– The personal information I have provided herein is true and accurate. I take full responsibility for any inaccurate information contained in this declaration.

 

CONFIRMATION BY THE COMPETENT AUTHORITY OF THE WORK UNIT

…….., date……..month……..year…… DECLARANT (Sign and print your full name)

Note:

1. The applicant must provide complete and accurate information as required and is legally responsible for the completeness, accuracy, and truthfulness of the application. If no information is required, it should be clearly stated that there is none.

2. The applicant must fully declare their work, workplace, and all positions they have held and are currently holding.

3. Continuity in terms of time must be ensured.

4. Clearly state if the personnel are managers or executives as defined by law and the charter of the organization applying for the payment intermediary service license.

5. Specify: full/limited/lacking civil capacity.

In cases where the State Bank of Vietnam has access to and can utilize information from the National Population Database, the applicant is a Vietnamese citizen and is not required to declare the information marked with (*).

(In addition to the basic information above, the applicant may add other information if deemed necessary.)

_________________________________________________________________________________________________________

Sample number 10

TECHNICAL ACCEPTANCE REPORT

(The technical acceptance report for licensed payment intermediary services with a cooperating bank for e-wallet services, collection and disbursement support services, and electronic payment gateway services must contain at least the following information:)

1. Information on the Payment Intermediary Service Provider:

– Name of the organization.

– Legal representative of the organization; position.

– Address of the head office.

– Contact phone number.

– Other relevant information (if any).

2. Information on partner banks:

– Bank name.

– The legal representative of the bank; position.

– Address of the head office.

– Contact phone number.

– Other relevant information (if any).

3. Main contents of the Technical Acceptance Report

Based on the results of the technical acceptance testing of the licensed payment intermediary service, both parties sign the Technical Acceptance Test Report for the payment intermediary service(s) with the following contents:

– Name(s) of the payment intermediary services performing the technical acceptance testing.

– Time of implementation (after the date of issuance of the License to provide payment intermediary services).

– Implementation environment:

– Technical acceptance procedures/functions (if any).

– Test content

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

– Evaluating the results of the technical acceptance test.

– Technical acceptance test scenario (if any).

– Other related information (if any).

 

LEGAL REPRESENTATIVE OF THE COOPERATIVE BANK (Signature, full name, and seal)

LEGAL REPRESENTATIVE OF THE SERVICE PROVIDING ORGANIZATION PAYMENT INTERMEDIARIES (Signature, full name, and seal)

_________________________________________________________________________________________________________

Sample number 11

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

APPLICATION FOR RENEWAL OF PAYMENT INTERMEDIARY SERVICE LICENSE

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

…(1)… We request that the State Bank of Vietnam reissue the license to operate as a payment intermediary service provider with the following specific details:

1. Name of the organization requesting the renewal of the Payment Intermediary Service Provider License:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

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

3. Business Registration Number/Tax Identification Number:

4. Location of the head office, telephone number, fax number, email address:

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

6. Reason for requesting license renewal (select the corresponding box):

□ License has expired.

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

In cases where an organization requests the renewal of its license due to expiration, the organization must provide documentation proving that it maintains the conditions for providing payment intermediary services as stipulated in the license at the time of submitting the renewal request to the State Bank of Vietnam.

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

We are committed to complying with and strictly adhering to the regulations of the law and the State Bank of Vietnam; we assume full responsibility for the accuracy and truthfulness of the content in this Application and attached documents (if any). If we violate these regulations, we will bear full legal responsibility.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

Note: …(1)… Name of the organization requesting the re-issuance of the Payment Intermediary Service License.

_________________________________________________________________________________________________________

Sample number 12

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

APPLICATION FOR AMENDMENT AND SUPPLEMENTATION OF THE LICENSE FOR PROVIDING PAYMENT INTERMEDIARY SERVICES

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated …/…/… of the State Bank of Vietnam The Vietnamese State regulates the provision of payment intermediary services and any amendments or supplements to those regulations (if any).

Based on 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 change of the name of the organization/location of the head office/cessation of providing one or more licensed payment intermediary services/connecting to additional international payment systems of the international financial switching service provider in License No… dated… month… year…;

Based on Establishment License/Business Registration Certificate No… dated… month… year… issued for the… time by…;

For other reasons (if any)

…(1)… We propose that the State Bank of Vietnam amend and supplement the License for providing payment intermediary services with the following specific content:

1. Name of the organization requesting amendments or additions to the Payment Intermediary Service Provider License:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

2. Business Registration Number/Tax Identification Number:

3. Location of the head office, telephone number, fax number, email address:

4. License for providing payment intermediary services No. ... dated ... month ... year ... issued by the Governor of the State Bank of Vietnam.

5. Reasons for requesting amendments or additions to the License (select the corresponding box):

□ Change the organization's name

Name of the payment intermediary service provider after the change:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

□ Change of headquarters location

The location of the head office has changed:

□ Cease providing one or more licensed payment intermediary services.

– Name(s) of payment intermediary services that have ceased operation:

– Expected time for discontinuing payment intermediary services:

□ Connect to additional international payment systems of international financial switching service providers.

We commit to being fully responsible before the law for the legality, accuracy, and truthfulness of the contents of this Application. In the event of ceasing to provide one or more licensed payment intermediary services, we commit to having completed the settlement of tax obligations, debts, assets, and customer rights. If we violate this, we will bear full legal responsibility.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

Note: ….(1)…. Name of the organization proposing amendment and supplementation of the License for providing intermediary payment services.

_________________________________________________________________________________________________________

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

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

Considering the Application for issuance/re-issuance of the Payment Intermediary Service License No… dated… month… year… and the attached documents of …(1)…;

As requested by the Director of the Payment Department.

DECISION:

Article 1. Licenses are granted to operate as payment intermediary service providers for:

1. Name of organization: …(1)…

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

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

2. Business registration number:

3. Location of the head office:

Article 2. Payment intermediary services that have been granted/re-licensed:

Article 3. Other terms and conditions:

Article 4. During the process of providing payment intermediary services, …(1)… must comply with the regulations in Decree No. …/…/ND-CP dated … month … year … of the Government on 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 on the provision of payment intermediary services and amendments and supplements (if any); and other relevant legal regulations.

Article 5. Effective date

This license is valid for 10 years from the date of signing. (for cases where a license is issued as stipulated in Article 24 of this Decree).

This license is effective from the date of signing and replaces License No… dated… month… year… of the Governor of the State Bank of Vietnam on granting a license to operate payment intermediary services for…(1)… (for cases of license re-issuance as stipulated in Clause 1, Article 25 of this Decree).

This license is effective from the date of signing, has a term 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 payment intermediary services for…(1)… (for cases stipulated in Clause 2, Article 25 of this Decree).

 

Recipients: - As Article 1; – The leadership of the State Bank of Vietnam; – IT Department, PC Division (for coordination); – CQTTGSNH (for coordination); – Stock Exchange (for coordination); – State Bank of Vietnam branch …. (for coordination); - Save: ….

GOVERNOR

Note: (1) Name of the organization applying for or renewing the License to operate as a payment intermediary service provider.

_________________________________________________________________________________________________________

Sample number 14

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

DECISION

Regarding the approval of amendments and additions to the content of the License for operating payment intermediary services of…(1)…

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated …/…/… of the Governor of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

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

As requested by the Director of the Payment Department.

DECISION:

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

...

Article 2. This decision takes effect from the date of signing and is an integral part of the Payment Intermediary Service License 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 to conform with the changes in Article 1 of this Decision.

2. Send written notices to relevant organizations and individuals to terminate the contract and complete all obligations and responsibilities between the parties involved in accordance with the law within 30 days from the effective date of this Decision. (in cases where an organization requests to cease providing payment intermediary services).

Article 4. (Content…as 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 for operating payment intermediary services of… (1)… expires from the date this Decision takes effect (if any).

Article 5. ...

Article 6. The Chief of Office, Director of the Payment Department, and the legal representative of…(1)… are responsible for implementing this Decision.

 

Recipients: - As Article 5; – The leadership of the State Bank of Vietnam; – IT Department, PC Division (for coordination); – CQTTGSNH (for coordination); – Stock Exchange (for coordination); – State Bank of Vietnam branch …. (for coordination); – Communications Department (for announcement); - Save: ….

GOVERNOR

Note: …(1)… Name of organization proposing amendment and supplementation of the License for operating payment intermediary services.

_________________________________________________________________________________________________________

Sample number 15

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

APPLICATION FOR REVOCATION OF PAYMENT INTERMEDIARY SERVICE LICENSE

To: Governor of the State Bank of Vietnam.

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated… month… year… of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

Based on 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 of Vietnam in License No… dated… month… year…;

…(1)… We request that the State Bank of Vietnam revoke the Payment Intermediary Service Provider License No. ... dated .../.../... with the following specific details:

1. Name of the payment intermediary service provider:

– Full name in Vietnamese:

– Vietnamese abbreviation (if any):

– Full name in English (if any):

– English initials (if any):

– Trade name (if any):

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

3. Business Registration Number/Tax Identification Number:

4. Location of the head office, telephone number, fax number, email address:

5. License to operate as a payment intermediary service provider No. ... dated ... month ... year ... issued by the State Bank of Vietnam.

6. Reason for requesting withdrawal (select the corresponding box):

□ The organization has been dissolved or gone bankrupt.

– Attached documents:

□ Terminate the provision of payment intermediary services.

– Attached documents:

– Expected time for termination of payment intermediary services:

We hereby declare that we have fulfilled all tax obligations, debts, assets, and customer rights, and assume full legal responsibility for the legality, accuracy, and truthfulness of the contents of this Application. If we violate these obligations, we will bear full legal responsibility.

 

Attachments: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, and seal)

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

_________________________________________________________________________________________________________

Sample number 16

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

DECISION

Regarding the revocation of the Payment Intermediary Service Provider License of…(1)…

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. …/…/ND-CP dated… month… year… of the Government regulating non-cash payments and any amending or supplementary documents (if any);

Based on Circular No. …/…/TT-NHNN dated… month… year… of the Governor of the State Bank of Vietnam regulating the provision of payment intermediary services and any amending or supplementary documents (if any);

Considering the proposal of …(1)… (in the case of an organization with a Request for Revocation of License due to dissolution or bankruptcy or cessation of providing intermediary payment services)/proposal of competent state agency (in the case of a judgment, enforcement decision, or administrative violation penalty decision containing a request for revocation of the License);

As requested by the Director of the Payment Department.

DECISION:

Article 1. Revocation of Payment Intermediary Service Provider License No. ... dated ... month ... year ... issued by the Governor of the State Bank of Vietnam to:

1. Name of organization:

– Full name in Vietnamese:

– Full name in English:

– Abbreviation:

– Trade name:

2. Business registration number:

3. Location of the head office:

4. Reason for recall:

Article 2. Upon receiving this Decision, …(1)… must immediately cease providing intermediary payment services. Within 30 days from the effective date of this Decision, …(1)… must send written notice to relevant organizations and individuals to terminate 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 the Payment Department, Heads of units under the State Bank of Vietnam, and the legal representative of…(1)… are responsible for implementing this Decision.

 

Recipients: - As Article 4; – The leadership of the State Bank of Vietnam; – IT Department, PC Division (for coordination); – CQTTGSNH (for coordination); – Stock Exchange (for coordination); – State Bank of Vietnam branch …. (for coordination); – Communications Department (for announcement); - Save: ….

GOVERNOR

Note: (1) Name of the Organization whose Payment Intermediary Service Provider License has been revoked.