Consolidated Document number 49/VBHN-NHNN guiding payment intermediary services

STATE BANK OF VIETNAM VIETNAM --------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
Number: 49/VBHN-NHNN	Hanoi, November 9, 2016

CIRCULAR

GUIDELINES ON PAYMENT INTERMEDIARY SERVICES

Circular No. 39/2014/TT-NHNN dated December 11, 2014 of the Governor of the State Bank of Vietnam guiding payment intermediary services took effect from March 1, 2015, and was amended and supplemented by:

Circular No. 20/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circular No. 36/2012/TT-NHNN dated December 28, 2012 on equipping, managing, operating, and ensuring the safety of automatic teller machines and Circular No. 39/2014/TT-NHNN dated December 11, 2014 guiding payment intermediary services, which took effect from July 1, 2016.

Circular No. 30/2016/TT-NHNN dated October 14, 2016 of the Governor of the State Bank of Vietnam amending and supplementing certain circulars on activities providing payment services and payment intermediary services, which took effect from November 28, 2016.

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credit Organizations No. 47/2010/QH12 dated June 16, 2010;

Pursuant to Decree No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

BASED ON DECREE NO. 16/2017/NĐ-CP DATED FEBRUARY 17, 2017 OF THE GOVERNMENT ON THE FUNCTIONS, TASKS, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE STATE BANK OF VIETNAM;

At the proposal of the Payment Department Director;

The Governor of the State Bank of Vietnam issues this Circular to guide payment intermediary services. 1,2

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation and Applicability

This Circular guides payment intermediary services for organizations and individuals related to the provision and use of payment intermediary services.

Article 2. Types of Payment Intermediary Services

1. Electronic payment infrastructure services, including:

a) Financial switching service;

b) Electronic settlement service;

c) Electronic payment gateway service.

2. Payment support services, including:

a) Collection and disbursement support service;

b) Electronic money transfer support service;

c) E-wallet service.

Article 3. Explanation of Terms

In this Circular, the following terms shall be understood as follows:

1. Financial switching service is a service providing technical infrastructure to connect, transmit, and process electronic data to execute payment transactions through ATMs, POS terminals, Internet, mobile phones, and other electronic transaction channels between payment service providers and/or between payment intermediary service providers.

2. Electronic settlement service is a service providing technical infrastructure to receive, reconcile payment data, and calculate the net amount due after offsetting among participating members who are payment service providers or payment intermediary service providers to settle payments for relevant parties.

3. Electronic payment gateway service is a service providing technical infrastructure to connect acceptance units and banks to facilitate customers' payment transactions in e-commerce, electronic bill payments, and other electronic payment services.

4. Collection and disbursement support service is a service supporting banks in executing collection and disbursement services for customers with bank accounts or bank cards at the bank through receiving, processing, sending electronic data messages, calculating collection and disbursement results, canceling collections and disbursements to settle for relevant parties.

5. Electronic money transfer support service is a service supporting the receipt, transmission, and processing of data in electronic money transfer transactions of banks or those entrusted by banks.

6.3 (Repealed)

7. Payment guarantee account is a Vietnamese dong-denominated payment account opened by a payment intermediary service provider at commercial banks to ensure the provision of payment intermediary services.

8. Acceptance unit is an organization or individual providing goods or services and accepting payments through one or more payment intermediary services.

Chapter II

LICENSE FOR ACTIVITIES PROVIDING PAYMENT INTERMEDIARY SERVICES

Article 4. Issuance, Revocation, and Reissuance of the License

1. The State Bank of Vietnam (hereinafter referred to as the State Bank) shall issue, revoke, and reissue the License for providing payment intermediary services (hereinafter referred to as the License) in accordance with Articles 15 and 16 of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payments (hereinafter referred to as Decree No. 101/2012/ND-CP).

2.4 Non-bank organizations requesting issuance of the License to provide one or more payment intermediary services specified in Article 2 of this Circular must meet the conditions stipulated in Clause 2 of Article 15 of Decree No. 101/2012/ND-CP and any amendments, supplements, or replacements made by the Government (if applicable).

Article 5. Procedures, Formalities, and Documents for Issuance, Revocation, and Reissuance of the License

1. The procedures, formalities for issuance, revocation, and reissuance of the License shall be carried out in accordance with Article 16 of Decree No. 101/2012/ND-CP.

2.5 The application documents for issuance of the License for providing payment intermediary services shall comply with the provisions of Clause 2 of Article 16 of Decree No. 101/2012/ND-CP and any amendments, supplements, or replacements made by the Government (if applicable).

3. The application for issuance of the License shall be submitted in the form set forth in Appendix No. 01 attached hereto.

4. Organizations granted the License for providing payment intermediary services must pay the licensing fee in accordance with the provisions of the law.

Article 6. Use of the License

1. Organizations granted the License must use the correct name and operate in accordance with the contents stipulated in the License.

2. It is strictly prohibited to forge, erase, transfer, lease, lend the License; entrust or delegate another organization or individual to perform activities permitted under the License.

Chapter III

PAYMENT INTERMEDIARY SERVICES

Article 7. Risk Management, Safety, and Security Assurance

1. Payment intermediary service providers must establish and implement internal regulations and comply with the State Bank's principles for risk management in electronic banking operations, comply with current laws on anti-money laundering, and other relevant Vietnamese laws.

2. Payment intermediary service providers must ensure safety and security measures for information technology systems in banking operations; safety and security for the provision of electronic banking services in accordance with the State Bank's regulations.

3. Payment intermediary service providers must comply with the legal provisions regarding the establishment, use, preservation, and storage of electronic documents in banking operations.

Article 8. Ensuring Payment Capacity

1. Payment intermediary service providers supporting collection and disbursement services and electronic wallet service providers must open a payment guarantee account to ensure the provision of these services. The balance in the payment guarantee account must not be lower than the total amount received from customers that have not yet been settled to the payment acceptance units (for collection and disbursement services) or the total balance of all customer electronic wallets (for electronic wallet services) at the same time.

2. The payment guarantee account may only be used for:

a) Settling funds to payment acceptance units;

b) Refunding money to customers using the service upon request.

Article 9. Activities of Providing Electronic Wallet Services

1. An organization providing electronic wallet services shall not be permitted to:

a) Issue more than one (1) electronic wallet for one payment account of a customer at one bank;

b) Grant credit to customers using electronic wallets, pay interest on the balance of electronic wallets, or any other action that may increase the monetary value on electronic wallets.

2. An organization providing electronic wallet services must have tools for the State Bank to monitor in real-time the total amount of money of customers on electronic wallets and the total amount on the payment guarantee accounts of the service provider organizations at banks.

3. The act of depositing money into an electronic wallet and withdrawing money from an electronic wallet of a customer must be carried out through the customer's payment account at a bank.

Chapter IV

RIGHTS AND RESPONSIBILITIES OF THE PARTIES INVOLVED

Article 10. Rights of Organizations Providing Infrastructure Payment Services

1. To stipulate conditions for using services; require customers to provide complete and accurate information related to the use of services and during the use of services; refuse to provide services when customers do not meet all conditions for using services, do not comply with the regulations of the service provider organization, or violate other agreements.

2. To stipulate measures to ensure safety for the use of services.

3. To stipulate types and levels of fees for using services in accordance with current laws.

4. To select banks and other organizations as partners to sign contracts for providing and developing services based on ensuring safety, efficiency, and compliance with the content of the License and legal provisions.

5. Other rights according to contracts with banks, customers, and partners in accordance with legal provisions.

Article 11. Obligations of Organizations Providing Infrastructure Payment Services

1. For customers:

a) Guide customers on how to use services;

b) Resolve or respond to customer complaints and inquiries;

c) Compensate customers for losses due to technical system errors, disclosure of customer information, and other errors of the service provider organization;

d) Coordinate with customers to perform daily transaction data checks and reconciliations;

đ) Provide complete information periodically or urgently about transactions through the service provider organization's system upon customer request;

e) Announce types and levels of fees for customers before they use services.

2. Coordinate with customers and partners to implement risk management measures, ensure safety and security when using and providing services.

3. Other obligations according to contracts with banks, customers, and partners.

Article 12. Rights of Organizations Providing Support Services for Payment

1. To stipulate conditions for using services; require customers to provide complete and accurate information related to the use of services and during the use of services; refuse or terminate provision of services when customers do not meet all conditions for using services, do not comply with the regulations of the service provider organization, or violate other agreements.

2. To stipulate measures to ensure safety for the use of services.

3. To stipulate types and levels of fees for using services in accordance with current laws.

4. To select banks and other organizations to sign contracts for providing and developing services based on ensuring safety, efficiency, and compliance with the content of the License and legal provisions.

5. Other rights according to contracts with banks, customers, and partners in accordance with legal provisions.

Article 13. Responsibilities of service providers supplying payment support services

1. For customers using the service:

a) Specify and announce terms and conditions for using the service through appropriate channels (the service provider's website, brochures, and sample contracts/sample service usage registration forms...). The service provider and/or cooperate with banks must agree with customers on the following issues before using the service:

- Payment methods;

- Fees and charges;

- Detailed transaction statement models provided to customers during the service usage process;

- Methods for receiving dispute resolution requests and complaints; deadlines for handling dispute resolution requests and complaints and the processing of dispute resolution results according to points d, d1, d2, d3, d4, đ, đ1, and đ2 of this clause;

- Force majeure cases;

- Refund policy including conditions, procedures, timeframes, and costs;

- Rights and responsibilities of customers;

- Customer obligations in case of incidents, losses, fraud transactions;

- Address and contact number of the intermediary payment service provider organization;

b) Guide customers on how to use the service;

c) Verify, update fully and accurately customer information registered for service usage;

d)8 Apply at least two methods to receive dispute resolution and complaint information including through a call center (with recording, operating 24/24 hours daily and 7/7 days weekly) and at the headquarters/branch of the service provider organization; ensure verification of basic information provided by customers to the service provider organization;

d1)9 Develop a dispute resolution and complaint request form for customers to use when making a dispute resolution or complaint request. In the case of receiving information through a call center, the service provider must require customers to supplement the dispute resolution and complaint request form according to the model within the deadline set by the service provider organization as the primary basis for handling dispute resolution and complaint requests. In the case of authorizing another person to make a dispute resolution or complaint request, the customer shall comply with the provisions of the law on authorization;

d2)10 Specifically stipulate the timeframe within which customers have the right to make a dispute resolution or complaint request; this period shall not be less than 60 days from the date of occurrence of the transaction subject to dispute resolution or complaint;

d3)11 Immediately implement measures to temporarily suspend service provision when customers request due to suspected fraud or loss and bear full financial loss responsibility for customers arising from the use of the service after the temporary suspension of service provision;

d4)12 The deadline for handling dispute resolution and complaint requests shall not exceed 45 working days from the date of the first receipt of the customer's dispute resolution and complaint request according to one of the reception methods specified in point d of this clause;

đ)13 Handle dispute resolution and complaint results:

- Within a maximum of five working days from the date of notifying the customer about the dispute resolution and complaint result, the service provider organization shall compensate the customer's loss according to the agreement and current legal regulations for losses arising that are not due to the customer's fault and/or do not fall under force majeure cases agreed upon in the terms and conditions for using the service;

- In the event that the dispute resolution and complaint handling deadline specified in point d4 of this clause has expired without identifying the cause or fault of either party, within the next fifteen working days, the service provider organization shall negotiate with the customer regarding the handling plan or temporarily compensate the customer's loss until the final conclusion of the competent authority clarifies the fault and responsibility of the parties;

đ1)14 In cases where there are signs of criminal offenses, the service provider organization shall notify the competent state agency according to the provisions of the criminal procedure law and report to the State Bank (Payment Department, State Bank branch in the province/city) while simultaneously informing the customer in writing about the status of the dispute resolution and complaint handling. Handling dispute resolution and complaint results falls under the responsibility of the competent state agency. If the competent state agency notifies the resolution result without criminal elements, within fifteen working days from the date of the state agency's conclusion, the service provider organization shall negotiate with the customer regarding the handling plan for the dispute resolution and complaint results;

đ2)15 In cases where the service provider organization, customers, and related parties cannot reach an agreement or disagree with the dispute resolution and complaint handling process, the dispute resolution shall be handled according to the provisions of the law;

e) For electronic wallet services, the service provider organization has the responsibility to require customers to have a bank account opened before using the service; provide complete information periodically and urgently about transactions, balances, and limits related to the use of the service upon customer request.

2. For banks:

a) Fully and promptly fulfill all obligations arising from transactions using the service according to the agreement between the intermediary payment service provider organization and the bank and in accordance with legal regulations;

b) Cooperate with banks to verify, update fully and accurately customer information registered for service usage;

c) Cooperate with banks and partners to conduct daily transaction data checks and reconciliations.

3. Service providers must enter into written agreements with banks and partners regarding the terms for cooperation in providing services, requiring payment acceptance units to commit not to charge additional fees to customers when making payments through payment intermediary services in any form. In case the payment acceptance unit fails to comply with its commitment, the service provider shall be responsible for terminating the contract and demanding compensation from the payment acceptance unit for customer losses or applying other appropriate measures according to the commitments made between the parties.

4. Implement risk management measures to ensure safety and security in the provision of services.

5. Other obligations under contracts with banks, customers, and partners.

Article 14. Rights of Banks

1. Select non-bank organizations to cooperate and test one or more payment intermediary services.

2. Enter into contracts to use electronic payment infrastructure services and/or cooperate in deploying support services for payment services with payment intermediary service providers.

3. Request payment intermediary service providers to provide necessary information related to transactions conducted through payment intermediary services.

4. Other rights under contracts and service provision agreements with payment intermediary service providers.

Article 15. Responsibilities of Banks

1. Cooperate only with non-bank organizations that have been granted a License by the State Bank of Vietnam to provide payment intermediary services.

2. Coordinate with payment intermediary service providers to conduct daily transaction data reconciliation.

3. Process payment transactions for relevant parties in accordance with the regulations of the State Bank of Vietnam and the cooperation service provision contract with payment intermediary service providers.

4. Manage the balance of guarantee accounts of payment support service providers in accordance with the cooperation contracts signed with payment support service providers and the provisions of this Circular.

5. Coordinate with payment intermediary service providers to verify, update, and ensure the completeness and accuracy of customer information registered to use payment support services.

6. Coordinate with payment intermediary service providers to guide procedures, technical processes, and security measures in payment transactions through payment intermediary services for payment acceptance units and customers using payment intermediary services. The bank shall be liable for compensating customer and related party losses due to the bank's failure to comply with these regulations.

7. Collaborate with payment intermediary service providers to establish procedures and processes for handling customer complaints related to payment transactions through payment intermediary services.

8. Other obligations under contracts with payment intermediary service providers, payment acceptance units, and customers.

Chapter V

REPORTING, INFORMATION DISCLOSURE AND VIOLATION HANDLING

Article 16. Reporting and Providing Information

1. Payment intermediary service providers shall report to the State Bank of Vietnam (through the Payment Department) on a quarterly and annual basis according to the contents required in Appendix No. 02 issued together with this Circular. The deadline for submitting periodic reports is no later than the 5th day of the first month of the next quarter for quarterly reports and the 15th of January of the following year for annual reports.

2. Payment intermediary service providers and banks shall be responsible for reporting to the State Bank of Vietnam information related to payment intermediary transactions in the following cases:

a) At the specific request of the State Bank of Vietnam to serve state management purposes;

b) When there are unusual developments in operations that may affect the operation of payment intermediary service providers and banks or other organizations and individuals involved;

c) When incidents occur causing interruptions in payment activities through payment intermediary services.

3. Payment intermediary service providers and banks shall be responsible for keeping confidential information related to payment transactions through payment intermediary services, personal information of customers, and customer payment accounts, and shall only provide such information in the following cases:

a) Upon the customer's request;

b) As prescribed by law.

Article 17. Handling Violations

Organizations and individuals violating the provisions of this Circular shall be subject to administrative penalties depending on the nature and severity of the violation; in serious cases, they may be held criminally liable; if damage is caused, compensation must be provided in accordance with the law.

Chapter VI

IMPLEMENTATION

Article 18. Payment Department

1. Serve as the focal point for receiving and coordinating with relevant units to review applications for licenses.

2. Within fifteen working days from the date of receipt of complete files as stipulated in Clause 2, Article 16 of Decree No. 101/2012/NĐ-CP, the Payment Department shall be responsible for reviewing and sending the file to relevant Departments, Bureaus, and units under the State Bank of Vietnam for their comments.

3. Summarize opinions from relevant units, review the file, and submit to the Governor of the State Bank of Vietnam for a decision to grant or refuse the license.

4. Serve as the focal point for presenting to the Governor of the State Bank of Vietnam matters related to issuing, revoking, and reissuing licenses.

5. Serve as the focal point for receiving reports on the provision of payment intermediary services by payment intermediary service providers and banks.

6. Monitor and serve as the focal point for advising the Governor of the State Bank of Vietnam on managing and supervising the provision of payment intermediary services by payment intermediary service providers.

Article 19. Information Technology Bureau

1. Within a maximum period of fifteen working days from the date of receipt of the request document from the Payment Department, the Information Technology Bureau shall be responsible for reviewing, evaluating, and sending a document back to the Payment Department confirming technical conditions, technological solutions, security and confidentiality capabilities, and the technical staff team ensuring the provision of payment intermediary services by the organization applying for the license.

2. Coordinate with the Payment Department to inspect compliance with regulations on security, confidentiality, and risk management in electronic transactions by payment intermediary service providers.

Article 20. Banking Inspection and Supervision Authority

Shall conduct inspections, examinations, and supervision of organizations and individuals related to the implementation of this Circular.

Chapter VII

IMPLEMENTING PROVISIONS

16, 17

Article 21. Effective Date

This Circular shall take effect from March 1, 2015.

Article 22. Transitional provisions

From the date this Circular takes effect, organizations that are not banks and have been permitted by the State Bank of Vietnam to pilot the provision of one or more payment intermediary services as stipulated in Article 2 of this Circular shall be responsible for completing the procedures and submitting the application file for a License in accordance with the provisions of Article 5 of this Circular to the State Bank of Vietnam for consideration of issuance of the License.

Nine months from the date this Circular takes effect, all documents of the State Bank of Vietnam regarding the permission for non-bank organizations to pilot the provision of payment services and payment intermediary services will become invalid.

Article 23. Responsibility for Implementation

The Director of the Office, the Head of the Payment Department, and the Heads of units under the State Bank of Vietnam; the Governors of the State Bank of Vietnam Branches in provinces and centrally-administered cities, the Chairmen of the Management Boards (Board Members), and General Directors (Directors) of organizations providing payment services and payment intermediary services are responsible for organizing the implementation of this Circular./.

CERTIFIED CONSOLIDATED DOCUMENT DIRECTOR DEPUTY DIRECTOR Nguyen Dong Tien

ANNEX NO. 01

(Issued together with Circular number .../2014/TT-NHNN dated... month... year 2014 of the Governor of the State Bank of Vietnam)

NAME OF JOINT STOCK APPLICATION FOR LICENSE --------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
	……., ON SERVICE INTRODUCTION POINTS

APPLICATION FOR FILM FESTIVAL ORGANIZATION PERMIT

PAYMENT INTERMEDIARY SERVICES

Respectfully submitted to: Governor of the State Bank of Vietnam

Pursuant to Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on cashless payments;

Pursuant to Circular No.../2014/TT-NHNN dated.../.../2014 of the State Bank of Vietnam guiding payment intermediary services;

Pursuant to the Minutes of the Meeting of the Board of Members/General Assembly/Management Board of the organization applying for the License on... month... year... unanimously agreeing to apply for a License for operating payment intermediary services;

The organization applying for the License for providing payment intermediary services requests the State Bank of Vietnam to consider issuing a License for operating payment intermediary services with the following specific content:

1. Name of the Organization Applying for the License:

- Full name in Vietnamese:

- Abbreviation in Vietnamese (if any):

- Full name in English (if any):

- Abbreviation in English (if any):

- Trading name (if any):

2. Business Registration Certificate/Enterprise Registration Certificate/Business Registration Number... issued by... on... month... year...

3. Enterprise Code/Tax Code:

4. Main office address, phone number, fax number, email.

5. Names and contents of payment intermediary services requested for the License:

- Financial Switching Service;

- Electronic Settlement Service;

- ...

We commit to strictly comply with the conditions prescribed in Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on cashless payments and Circular No.../2014/TT-NHNN dated.../.../2014 of the State Bank of Vietnam guiding payment intermediary services. If violated, we will bear responsibility under the law.

Attached documents: 1. 2.

LEGAL REPRESENTATIVE (Signature, full name, stamp)

APPENDIX NO. 02

(Issued together with Circular No…/2014/TT-NHNN dated…month…. year 2014 of the Governor of the State Bank of Vietnam)

NAME OF THE PAYMENT INTERMEDIARY SERVICE PROVIDING ORGANIZATION --------
	APPLICATION FOR INSPECTION AND SUPERVISION OF EXPORT AND IMPORT GOODS RELATED TO INTELLECTUAL PROPERTY RIGHTS

REPORT

ON PAYMENT INTERMEDIARY SERVICE PROVIDING ACTIVITIES

Period (Quarter/Year)...

Respected: State Bank of Vietnam

I. Payment Intermediary Services Provided by the Organization

(Report detailed information for each payment intermediary service already approved by the SBV)

1. List of banks currently cooperating to implement payment intermediary services (bank name, start date of participation):

2. List of payment acceptance units participating in implementing payment intermediary services (name of goods/services provider organization, start date of participation):

3. Services carried out through the organization (type of service, start date of implementation):

4. Number of customers using the service (as of the end of the reporting period):

5. For e-Wallet service: Number and total balance of e-Wallets (as of the end of the reporting period); value of e-Wallet (average monthly/daily highest in the month/daily lowest in the month):

6. Payment transactions conducted through payment intermediary services (generated during the reporting period):

Total number of transactions:

Of which: Number of unsuccessful transactions¹:

Total transaction value:

Of which: Value of unsuccessful transactions¹:

II. Evaluation of Implementation Results, Advantages, and Difficulties During the Implementation Process

III. Suggestions and Proposals to the State Bank of Vietnam (if any)

LEGAL REPRESENTATIVE (Signature, full name, stamp)

----------------------

¹ Refers to transactions requested by customers but not executed due to transmission errors, technical failures, power outages, software errors...

ANNEX NO. 03

(Issued together with Circular No…/2014/TT-NHNN dated…month…year 2014 of the Governor of the State Bank of Vietnam)

STATE BANK OF VIETNAM VIETNAM --------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
No.: …/GP-NHNN	Hanoi, on... month... year...

LICENSE

PAYMENT INTERMEDIARY SERVICES

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

BASED ON DECREE NO. 16/2017/NĐ-CP DATED FEBRUARY 17, 2017 OF THE GOVERNMENT ON THE FUNCTIONS, TASKS, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE STATE BANK OF VIETNAM;

Pursuant to Circular No /2014/TT-NHNN dated... month... year 2014 of the Governor of the State Bank of Vietnam guiding payment intermediary services;

Considering the application for a License for operating payment intermediary services and the attached documents;

At the proposal of the Head of the Payment Department,

DECISION:

Article 1. Grant a License for operating payment intermediary services to:

- Full name:

- Full name in Vietnamese and English (if any);

- Abbreviation in Vietnamese and English, trading name (if any):

2. Enterprise Code/Tax Code:

3. Main office location:

Article 2. (Payment intermediary services granted permission):

Article 3. (Other terms and conditions):

Article 4. During the operation, Company... must comply with the provisions of Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on cashless payments, Circular No.../2014/TT-NHNN dated... month... year 2014 of the Governor of the State Bank of Vietnam guiding payment intermediary services, and relevant laws.

Article 5. This License has a validity period of 10 years and becomes effective from the date of issuance./.

Place of Receipt: - General Department of Customs - Ministry of Finance; - SBV Leadership; - CBCC (for coordination); - Banking Inspection Authority (for coordination); - State Bank of Vietnam Branch... (for coordination); - File: Office, TT.

GOVERNOR