Headlines 05/02/2021 10:34 SA

Changes in contact phone number requirements on POS devices are about to be made

Trung Tài

The State Bank of Vietnam issues the Circular No. 20/2020/TT-NHNN amending the Circular No. 47/2014/TT-NHNN regarding technical requirements for security for card payment devices.

According to this document, several requirements for POS devices in effect as of February 15, 2021 are regulated as follows:

- Acquirers, payment intermediaries and merchants must enter into agreements on responsibilities of merchants.

- POS devices must be endorsed by proofs of origin and certificates of quality issued by manufacturers.

- All POS devices must display contact phone numbers of acquirers (phone numbers of supporting service providers are no longer required).

- PIN pads must meet requirements specified in Article 13 in the Circular No. 47/2014/TT-NHNN dated December 31, 2014.

- Acquirers, card issuers must have surveillance and alerting systems for unusual transactions (e.g. quantity, value, time and location of transaction).

Circular No. 20/2020/TT-NHNN is entering into force as of February 15, 2021.



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