Circular No. 44/2025/TT-NHNN Amending and Supplementing Certain Articles of Circular No. 07/2024/TT-NHNN on Payment Agency Activities

CIRCULAR

Amending and supplementing certain provisions of Circular No. 07/2024/TT-NHNN on payment agency activities

provisions on payment agency activities

 Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 Law No. 46/2010/QH12;

Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15; by Law No. 96/2025/QH15;

Pursuant to Decree No. 52/2024/NĐ-CP of the Government on cashless payments;

pursuant to Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing some articles of Circular No. 07/2024/TT-NHNNAt the proposal of the Director of the Payment Department;

Article 1. Amend and supplement Article 4

"The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain provisions of Circular No. 07/2024/TT-NHNN on payment agency activities.

Article 1. Amending and supplementing Article 4

Article 4. Contents of payment agency activities

The entrusting party may entrust the agency to perform one or more of the following tasks:

1. Receiving applications for opening payment accounts; conducting legality and compliance checks; ensuring the accuracy and correctness of all provided documents, information, and data; verifying customer identification information according to the entrusting party's guidelines and sending the results to the entrusting party, and guiding customers on how to use payment accounts.

2. Receiving applications for issuing bank cards; conducting legality and compliance checks; ensuring the accuracy and correctness of all provided documents, information, and data; verifying customer identification information according to the entrusting party's guidelines and sending the results to the entrusting party, and guiding customers on how to use bank cards.

3. Accepting customer requests for payment services; preparing, signing, or applying electronic confirmation methods; controlling and processing customer payment documents; transferring transaction information from customers to the entrusting party; receiving cash from customers or paying cash to customers to execute transactions:

a) Depositing/withdrawing cash into/from customers' payment accounts opened with the entrusting party;

b) Depositing/withdrawing cash into/from prepaid debit cards issued by the entrusting party;

c) Depositing cash to pay off credit card debts issued by the entrusting party;

d) Providing payment order, mandate payment, collection, mandate collection, money transfer, collection on behalf, and payment on behalf services.

4. Within one working day from the time of receiving customer requests for payment services, the agent must process customer payment documents and transfer transaction information to the entrusting party, except in cases where system failures or other force majeure conditions prevent the execution of customer transactions.

Article 2. Amending and supplementing Clause 1 of Article 6

"1. Commercial banks, cooperative banks, and foreign bank branches may engage in payment agency activities if their establishment and operation permits or amendments thereto contain provisions on payment agency activities.

Article 3. Amend Point l, Clause 2, Article 9

"l) Collecting, comparing, and storing all data and payment vouchers generated at the agency according to relevant laws;"

Article 4. Add Point a1 following Point a, Clause 2, Article 10

"a1) The establishment, signing, or application of electronic confirmation methods, control, circulation, management, use, and preservation of payment vouchers must comply with accounting laws, laws on electronic transactions, and related laws;"

Article 5. Amend Clause 1, Clause 3, Article 11

Replace the phrase "State Bank branch at provincial level under the central government" with the phrase "State Bank Regional Branch" in Clause 1 and Clause 3, Article 11.

Article 6. Amend and supplement some Points and Clauses of Article 12

1. Amend Point d, Point đ, Clause 1, Article 12 as follows:

"d) Serve as the focal point and coordinate with the State Bank Regional Branch in inspecting the compliance of the entrusting party and the agency with the provisions of this Circular.

đ) Coordinate with the Banking Inspection Department to conduct inspections for compliance with the provisions of this Circular."

2. Amend and supplement Clause 2, Article 12 as follows:

"2. Payment Management and Supervision Department

a) Serve as the focal point for advising and processing applications for the issuance, amendment, and supplementation of Licenses regarding the entrusting agency payment activities and agency activities in banking operations of commercial banks, cooperative banks, and foreign bank branches; serve as the focal point for advising and processing applications for the issuance, amendment, and supplementation of Licenses regarding agency service provision activities of microfinance organizations supervised by the Payment Management and Supervision Department according to the law and the delegation of the Governor of the State Bank of Vietnam.

b) Conduct supervision over the entrusting party within its authority to ensure compliance with the provisions of this Circular."

3. Supplement Clause 3, Article 12 as follows:

"3. Banking Inspection Department

Conduct inspections within its authority to ensure compliance with the provisions of this Circular by the entrusting party and the agency, handle violations within its authority, and report results to the Payment Department and related units."

4. Supplement Clause 4, Article 12 as follows:

"4. State Bank Regional Branch

a) Serve as the focal point for receiving, examining, and processing applications for the issuance, amendment, and supplementation of Licenses regarding entrusting agency payment activities and agency activities in banking operations of foreign bank branches subject to inspection and micro-prudential supervision by the State Bank Regional Branch according to the law and the delegation and authorization of the Governor of the State Bank of Vietnam.

b) Serve as the focal point for receiving, examining, and processing applications for the issuance, amendment, and supplementation of Licenses regarding the inclusion of agency service provision activities in the License of people's credit funds located within the jurisdiction of the State Bank Regional Branch according to the law and the delegation and authorization of the Governor of the State Bank of Vietnam.

c) Conduct inspections and examinations of the entrusting party and the agency and supervise the entrusting party within its authority to ensure compliance with the provisions of this Circular, handle violations within its authority, and report results to the Payment Department and related units."

Article 7. Amending and supplementing Article 14

"Article 14. Responsibility for implementation 

The heads of units under the State Bank of Vietnam, credit organizations, foreign bank branches, and other related organizations shall be responsible for organizing the implementation of this Circular.

Article 8. Replacing the Appendix attached to Circular No. 07/2024/TT-NHNN

Replacing the Appendix issued together with Circular No. 07/2024/TT-NHNN with the Appendix issued together with this Circular.

Article 9. Implementation responsibilities

The heads of units under the State Bank of Vietnam, credit organizations, foreign bank branches, and other related organizations shall be responsible for implementing this Circular.

Article 10. Provisions on implementation

This Circular takes effect from January 3, 2026.