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Circular No. 22/2020/TT-NHNN dated December 31, 2020 of the State Bank of Vietnam on amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 by the Governor of the State Bank of Vietnam on bank card operations
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Please Sign in your LuatVietnam account and sign up for the lookup software .Issuing bodies: | State Bank of Vietnam | Effective date: | |
Official number: | 22/2020/TT-NHNN | Signer: | Nguyen Kim Anh |
Legislation Type: | Circular | Expired date: | Updating |
Issuing date: | 31/12/2020 | Effect: | |
Fields: | Finance - Banking |
Banks are required to issue chip cards from March 31, 2021
On December 31, 2020, the State Bank of Vietnam issues the Circular No. 22/2020/TT-NHNN on amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 by the Governor of the State Bank of Vietnam on bank card operations.
Specifically, to change the deadline for 100% acquirers’ automated teller machines (ATM) and point of sale (POS) machines operating in Vietnam to comply with basis standards for domestic chip cards to December 31, 2021 instead of December 31, 2020 as in previous regulations.
Besides, from March 31, 2021, organizations issuing cards with BIN (bank identification number) granted by the State Bank must comply with basis standards for domestic chip cards.
This Circular takes effect on February 16, 2021.
For further details of the Circular 22/2020/TT-NHNN, Click here