Decree No. 80/2016/ND-CP Amending and supplementing certain articles of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payment.

DECREE

Amending and supplementing certain Articles of

Decree No. 101/2012/NĐ-CP dated November 22, 2012

"2. Within 10 working days before the implementation, installation, relocation, change in operating hours, or cessation of ATM operations, organizations providing payment services must notify the State Bank of Vietnam branch in the province or centrally-administered city where the ATM is located (hereinafter referred to as the State Bank branch) according to Model No. 1 (for fixed ATMs) or Model No. 2 (for mobile ATMs) issued together with this Circular.

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Pursuant to the Law on Government Organization dated June 19, 2015;

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

Pursuant to the Law on Credit Institutions dated June 16, 2010;

Pursuant to the Law on Electronic Transactions dated November 29, 2005;

On the basis of the Law on Transfer Instruments dated November 29, 2005;

Pursuant to the State Budget Law dated June 25, 2015;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates this Decree to amend and supplement some articles of Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on non-cash payment.

Article 1. Amending, supplementing, and abolishing some articles of Decree No. 101/2012/NĐ-CP dated November 22, 2012 of the Government on non-cash payment

1. Amending and supplementing Clause 4, 5, 6, 7, and 8 of Article 4 as follows:

"4. An organization providing intermediary payment services is:
a) An organization that is not a bank and has been granted a License for Intermediary Payment Services by the State Bank of Vietnam;
b) A commercial bank or a foreign bank branch permitted to provide electronic wallet services."

5. The account holder (hereinafter referred to as the account holder) is an individual whose name is listed on the account for an individual account or an organization that opens an account for an organizational account.

6. Non-cash payment instruments used in payment transactions (hereinafter referred to as payment instruments) include: Cheques, payment orders, direct debit mandates, collection orders, direct credit mandates, bank cards, and other payment instruments as prescribed by the State Bank of Vietnam.

7. Illegal payment instruments are payment instruments not covered under Clause 6 of this Article.

8. Electronic wallet service is a service provided to customers with a designated electronic account established by organizations providing intermediary payment services on a carrier (such as electronic chips, mobile phone SIM cards, computers...), allowing the storage of monetary value guaranteed by equivalent deposits transferred from the customer's payment account at the bank to the payment guarantee account of the electronic wallet service provider at a ratio of 1:1."

2. Supplement Clause 6 of Article 6 as follows:

"6. Issuing, supplying, and using illegal payment instruments."

3. Amending Clause 1 of Article 8 as follows:

"1. The State Bank of Vietnam shall open a payment account for the National Treasury, credit institutions, and foreign bank branches according to the provisions of Clause 2 and Clause 3 of Article 27 of the Law on the State Bank of Vietnam, Clause 4 of Article 55 of the State Budget Law, and Articles 101, 109, 114, Clause 4d of Article 118, and Article 121 of the Law on Credit Institutions."

4. Amending Clause 2 of Article 10 as follows:

"2. An individual opening a payment account must have civil capacity and civil conduct capacity; individuals aged 15 years or older but under 18 years old. Individuals under 15 years old, those who have lost their civil conduct capacity, those with restricted civil conduct capacity, and those with difficulties in understanding and controlling their actions according to Vietnamese law shall open a payment account through a guardian or a legal representative."

5. Amending Point b of Clause 2 of Article 12 as follows:

"b) When an organization providing payment services discovers errors or mistakes in fund transfers. The amount frozen on the payment account does not exceed the amount of the error or mistake."

6. Repeal Point c, Clause 2, Article 12.

7. Amending Clause 3 of Article 14 as follows:

"3. Payment services without the use of a customer's payment account, including: Fund transfer services, collection services, and disbursement services."

8. Amending and supplementing Points a, b, đ, e, g, and h of Clause 2 of Article 15 as follows:

"a) Having a business registration certificate or a license for establishment issued by a competent state agency;

b) Having a business plan for intermediary payment services approved in accordance with the investment authority regulations stipulated in the operating charter of the organization, which must include at least the following contents: Technical procedures of the proposed service; mechanisms ensuring payment capability; internal inspection and control procedures; risk management, security, and confidentiality; general principles and internal regulations on anti-money laundering; procedures and formalities for handling inquiries, complaints, and disputes; rights and obligations of related parties during the provision of services;

đ) Technical conditions: Having physical infrastructure, technical facilities, information technology systems, and technological solutions suitable for intermediary payment service operations; an independent backup system ensuring safe and continuous service provision when the main system fails and complying with other regulations on information technology system security and confidentiality in banking activities;

e) For financial switching services and electronic settlement services, the service provider must be managed by an organization responsible for settling results between related parties;

g) For supporting payment services for customers with accounts at multiple banks, the service provider must connect to a financial switching service provider and an electronic settlement service provider licensed by the State Bank of Vietnam to handle switching and processing of settlements arising during the provision of intermediary payment services by the organization;

h) During the provision of intermediary payment services, the intermediary payment service provider must have a management accounting information system capable of separately tracking capital, assets, and determining the results of intermediary payment service operations."

9. Supplementing Clause 3 and Clause 4 of Article 15 as follows:

"3. An organization providing intermediary payment services (excluding commercial banks and foreign bank branches) that meets the conditions stipulated in Clause 2 of this Article shall follow the procedures for obtaining a License for Intermediary Payment Services as prescribed in Article 16 of this Decree.4. Commercial banks and foreign bank branches providing electronic wallet services shall be subject to management and supervision by the State Bank of Vietnam."

"d) Documentation on personnel: Curriculum vitae, certified copies or copies issued from original records or uncertified copies accompanied by presentation of the originals for verification of certificates and documents proving competence and professional qualifications of the legal representatives, General Directors (Directors), Deputy General Directors (Deputy Directors) and key officials implementing the Intermediary Payment Service Supply Project;"

"e) The business establishment license or enterprise registration certificate issued by the competent state authority, and the Charter of organization and operation of the organization (certified copies or copies issued from original records or uncertified copies accompanied by presentation of the originals for verification)."

Article 2. Effective Date

This Decree takes effect from July 1, 2016.

This Circular takes effect from December 25, 2025/.

Ministers, Heads of ministerial-level agencies, Heads of government-attached agencies, Chairpersons of provincial People's Committees under central cities, and related organizations and individuals are responsible for implementing this Decree./.