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THE STATE BANK
OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No.:
26/2017/TT-NHNN
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Hanoi, December
29, 2017
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CIRCULAR
AMENDMENTS TO THE
CIRCULAR NO. 19/2016/TT-NHNN DATED JUNE 30, 2016 BY THE GOVENOR OF THE STATE
BANK OF VIETNAM ON BANK CARD OPERATIONS
Pursuant to the Law on State Bank of Vietnam
dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated
June 16, 2010;
Pursuant to the Law on amendments to the Law on
Credit Institutions dated November 20, 2017;
Pursuant to the Ordinance on Foreign Exchange
dated December 13, 2005 and the Ordinance dated March 18, 2013 on amendments to
the Ordinance on Foreign Exchange;
Pursuant to the Government’s Decree No.
101/2012/ND-CP dated November 22, 2012 on non-cash payment; the Government's
Decree No. 80/2016/ND-CP dated July 01, 2016 providing amendments to the Government’s
Decree No. 101/2012/ND-CP dated November 22, 2012 on non-cash payment;
Pursuant to the Government’s Decree No.
16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and
organizational structure of the State Bank of Vietnam;
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The Governor of the State Bank of Vietnam
promulgates a Circular to provide amendments to the Circular No.
19/2016/TT-NHNN dated June 30, 2016 by the Governor of the State Bank of
Vietnam on bank card operations.
Article 1. Amendments to the Circular No.
19/2016/TT-NHNN dated June 30, 2016 by the Governor of the State Bank of
Vietnam on bank card operations
1. Amendments to Clause 5 and addition of Clause
21a into Article 3:
“5. “co-branded card” means a card that bears
both brand names of a switching company in Vietnam and an international card
association or a switching company in another country.”
““21a. “Quick Response Code payment” (hereinafter
referred to as “QR Code payment”) means the use of QR Code to pay a merchant
for goods and services via a card. There are two modes of QR Code,
Merchant-Presented QR Code and Consumer-Presented QR Code.”
2. Amendments to Clause 2 and addition of Clause 7,
Clause 8 into Article 8:
“2. Directly conducting or facilitating other
persons in conducting fraud card transactions or fictitious transactions at
merchants (no occurrence of any sale of goods and provision of services).”
“7. A merchant transfers point-of-sale terminals or
QR Codes to other users; accepts card payment without entering into card
payment agreements; illegally uses point-of-sale terminals or QR Codes of
acquirers in Vietnam or foreign acquirers.”
“8. Purchasing, selling, leasing or hiring cards or
card information or opening card account on behalf of another person (excluding
anonymous prepaid cards).”
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“2. Before issuing a new card model or changing the
current card model, the card issuer must submit a notification of card model to
be issued to the State Bank of Vietnam according to the template stated in the
Appendix enclosed herewith. If issuing non-physical cards, the card issuer must
enclose this written notification with documents about the issuance of
non-physical cards as specified in Clause 1 of this Article.”
“5. Before signing an agreement on card issuance
and usage, the card issuer must request the cardholder to provide sufficient
information and necessary documents for identification as prescribed by law. If
a card is issued to a foreigner, the card issuer must request such foreign
cardholder to provide necessary documents for verification of his/her stay in
Vietnam, including: passport, visa, certificate of temporary residence,
temporary residence card, labour contract, admission decision or other
documents proving his/her stay in Vietnam.”
4. Amendments to Point b Clause 1 and addition of Clause 3 into Article 12:
“b) Name of switching company of which the card
issuer is a member (abbreviated name or trade logo), excluding cards which do
not have feature to make payments via switching services provided by switching
companies;”
“3. When issuing co-branded card, the card issuer
is not allowed to differentiate between trade logo of the Vietnamese switching
company and that of the international card association or a foreign switching
company (both logos must have the same size and the same type, color logo or
black and white logo, and be displayed on the same side of the card)."
5. Amendments to Clause 1 and addition of Clause 1a
into Article 14:
“1. The card issuer shall agree with the cardholder
about payment limit, transfer limit, cash withdrawal limit and other
card-related limits in accordance with regulations herein, regulations of law
in force on foreign exchange management and other provisions of law.”
“1a. With regard to overseas cash withdrawal limit,
a cardholder may withdraw a maximum amount of cash equivalent to VND 30 million
per day.”
6. Amendments to Clause 1 Article 15:
a) Amendments to point c(i) Clause 1 Article 15:
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b) Addition of Point dd into Clause 1 Article 15:
“dd) Credit limits of credit cards held by
individuals prescribed in Clause 1 Article 126 of the Law on Credit
Institutions (as amended) are as follows:
(i) For secured credit cards: Credit limit granted
to a cardholder shall be subject to determination by the card issuer in
conformity with its internal regulations on grant of card-based credit
facilities and shall not exceed VND 01 billion;
(ii) For unsecured credit cards: Credit limit
granted to a cardholder shall not exceed VND 500 million.
7. Amendments to Point b Clause 1, Clause 2, Point
c Clause 3 and addition of Clause 4 into Article 16:
“b) Any person who is 15 to less than 18 years of
age and does not have lack of legal capacity or limited legal capacity is
permitted to use debit cards, credit cards and prepaid cards.”
“c) A person who is 6 to less than 15 years of age,
does not have lack of legal capacity or limited legal capacity, and obtains an
authorization in writing made by his/her legal representative to permit him/her
to use card shall be permitted to use a debit card or a pre-paid card.”
“4. In addition to the requirements for eligibility
to use cards as specified in Clause 1, Clause 3 of this Article, a foreigner is
considered eligible to use cards if he/she is permitted to stay in Vietnam for
12 months or longer."
8. Addition of Point dd into Clause 3 Article 17:
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9. Amendments to Point b, Point g Clause 1 and
Clause 3 Article 18:
“b) Provide customers with instructions about card
services, card usage procedures, risks possibly taken during the card usage and
actions against problems, prohibited acts while using a card and cardholder’s
responsibility in case of violations;”
“g) Closely monitor to ensure that the card-based
remittance is conducted for the proper purposes, within the card limit and in
accordance with regulations of Law on Foreign Exchange Management.”
“3. Each acquirer shall:
a) cooperate with card issuers, switching
companies, clearing companies, merchants, competent authorities and other
involved parties in card-related crime prevention and fighting;
b) formulate criteria for selection of qualified
merchants and conduct evaluation and classification of merchants that wish to
accept card payment in conformity with their specifications and scope of
business;
c) have measures for inspection and management of
merchants, especially merchants using mPOS. In case of discovery that or
there are well-grounded reasons to believe that a merchant commits any
prohibited acts as specified in Article 8 herein, the acquirer must inform the
agency in charge of receiving crime-related reports, denunciations and
complaints or another competent authority to monitor and implement suitable
preventive measures, including termination of card payment agreement concluded
with that merchant.”
10. Addition of Clause 2a, Clause 2b, Clause 2c
into Article 20:
“2a. A card issuer must adopt at least two methods
for receiving requests for tracing and complaints from cardholders, including
via telephone exchange (which is available 24/7 and calls shall be
automatically recorded) and via transaction points of the card issuer, and
verify information received from cardholders.
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2c. The card issuer shall formulate the templates
of the tracing request and complaint so as to serve cardholders who want to
request for tracing or make complaint. In case of receiving a tracing request
or complaint via telephone, the card issuer may, if it is necessary in
conformity with its internal regulations or as agreed upon between the card
issuer and relevant parties, request the cardholder to supplement the tracing
request or complaint made according to the prescribed template within a
specific length of time in order to use as the basis for handling such tracing
request or complaint. The cardholder that wants to authorize a person to make
tracing request or complaint must comply with regulations into force of the law
on authorization."
11. Amendments to Point b and addition of Point e
into Clause 3 Article 22:
“b) Install point of sale terminals or provide QR
Codes for merchants, set up transmission lines and provide other technical and
operational conditions in service of card payments under agreements concluded
with merchants. The acquirer must implement necessary measures for managing its
mPOS (such as requesting a specific merchant to specify the scope of using mPOS
in the card payment agreement and other necessary measures);”
“e) Request merchants to open payment accounts at
the acquirer to receive payments from accepting card payments; request
merchants to provide card transaction invoices and vouchers in accordance with
the acquirer's regulations or where necessary with the aims of verifying the
validity and legality of card transactions;”
12. Amendments to Clause 3 and Clause 4 Article 27:
“3. The card issuer shall send a written
notification or data messages of the cases specified in Clause 1 and Clause 2
of this Article to the acquirer; when receiving such written notification or
data message from a Vietnamese card issuer or a foreign card issuer or an
international card association, the acquirer shall notify it to the merchant.”
“4. A notification of rejection of card payments
(including notifications sent by foreign card issuers and international card
association) takes effect at the time the involved party in card payment
receives a written notification or data message. In case where an
involved party still processes the payment of such card regardless of receipt
of the notification resulting in the misuse of the card, the contracting
parties shall determine responsibility according to their agreement.”
13. Amendments to Clause 2 Article 32:
“2. Clause 2 Article 24 of this Circular shall come
into force as from January 01, 2019.”
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The Chief of the Ministry Office, the Director of
the Payment Department, the Director of Foreign Exchange Management Department,
the Heads of relevant units/divisions affiliated to the State Bank of Vietnam,
the Directors of the State Bank Branches of provinces or central-affiliated
cities, the Presidents of the Boards of Directors, the Presidents of the Boards
of Members and the General Directors (Directors) of credit institutions,
branches of foreign banks, switching companies and clearing companies shall
implement this Circular.
Article 3. Entry into force
1. This Circular shall come into force as from
March 03, 2018, excluding regulations in Clause 2 and Clause 3 of this Article.
2. Point b Clause 6 Article 1 of this Circular
shall come into force as from January 15, 2018.
3. Clause 13 Article 1 of this Circular shall come
into force as from January 01, 2018.
4. This Circular nullifies Clause 1 and Clause 6
Article 1 of the Circular No. 30/2016/TT-NHNN dated October 14, 2016 by the
Governor of the State Bank of Vietnam on amendments to Circulars on provision
of payment services and intermediary payment services./.
PP. GOVERNOR
DEPUTY GOVERNOR
Nguyen Kim Anh
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