Circular 17/2021/TT-NHNN amending Circular 19/2016/TT-NHNN on bank card operations

CIRCULAR

Amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations

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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; the Law on Amending and Supplementing a Number of Articles of the Law on Credit Institutions dated November 20, 2017;

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 on amending and supplementing a number of articles of the Government’s Decree No. 101/2012/ND-CP; the Government’s Decree No. 16/2019/ND-CP dated February 01, 2019 on amending and supplementing a number of articles of the Decrees prescribing regulations on business conditions under the State management of the State Bank of Vietnam;

Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 prescribing functions, tasks, power and organizational structure of the State Bank of Vietnam;

At the request of the Director of the Department of Payment;

The Governor of the State Bank of Vietnam issues the Circular on amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations (hereinafter referred to as the Circular No. 19/2016/TT-NHNN).

Article 1. To amend and supplement a number of articles of the Circular No. 19/2016/TT-NHNN

1. To amend and supplement Clause 12, Article 3 as follows:

“12. Principal cardholder means an individual or organization that represents to conduct the agreement on card issuance and usage with a card issuer.”.

2. To add Clause 5 to Article 9 as follows:

“5. Card issuers must comply with the Basic standards for domestic chip cards when issuing cards with Bank Identification Number (BIN) issued by the State Bank in accordance with the roadmap prescribed at Article 27b of this Circular. Card issuers in special control times shall conduct the transformation roadmap in accordance with the decision of the Governor of the State Bank for each specific case.”.

3. To amend and supplement Clause 5, Article 10 (which is amended and supplemented in accordance with regulations in Clause 3, Article 1 of the Circular No. 26/2017/TT-NHNN dated December 29, 2017 of the Governor of the State Bank of Vietnam on amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN) as follows:

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