Circular 22/2026/TT-NHNN amending Circular 40/2024/TT-NHNN on payment intermediary services

CIRCULAR

Amending and supplementing a number of articles of Circular No. 40/2024/TT-NHNN on the provision of payment intermediary services

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

Pursuant to the Law on Credit Institutions No. 32/2024/QH15 as amended and supplemented under Law No. 96/2025/QH15;

Pursuant to the Law on Anti-Money Laundering No. 14/2022/QH15;

Pursuant to the Government's Decree No. 19/2023/ND-CP detailing a number of articles of the Law on Anti-Money Laundering;

Pursuant to the Government's Decree No. 52/2024/ND-CP on non-cash payment;

Pursuant to the Government's Decree No. 26/2025/ND-CP defining functions, tasks, power, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director General of the Payment Department;

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 40/2024/TT-NHNN on the provision of payment intermediary services.

Article 1. To amend and supplement Article 41

“Article 41. Responsibilities for coordination in the process for granting licenses

1. In case where the dossier is incomplete or invalid, the State Bank (Payment Department) shall send a written request to the organization for submission of additional or revised documents. Within 60 days from the date the State Bank (Payment Department) sends a written request for submission of additional documents, if the organization applying for the license fails to resubmit the dossier or the resubmitted dossier is still incomplete, the Director General of the Payment Department shall decide to return the dossier to the organization.

2. Upon receiving a complete and valid dossier as prescribed in Clause 2, Article 24 of Decree No. 52/2024/ND-CP, the Payment Department shall send a written request to obtain opinions of relevant Departments, Authorities, and units under the State Bank (if necessary) as prescribed in Clause 3 of this Article.

3. From the date of receiving the written request of the Payment Department:

a) Within 20 working days, the Information Technology Department shall provide written opinions to the Payment Department on evaluating and examining the dossier and technical conditions of the organization applying for the license: the dossier prescribed at Point c, Point d, Point dd (personnel files of technical staff implementing the scheme on provision of payment intermediary services), Point h (for financial switching services and automated clearing house service), and Point i (for international financial switching services), Clause 2, Article 24 of Decree No. 52/2024/ND-CP;

b) Within 10 working days, the Anti-Money Laundering Department shall provide written opinions to the Payment Department on evaluating and examining the compliance with law regulations on anti-money laundering regarding the dossier of the organization applying for the license as prescribed at Point c, Clause 2, Article 24 of Decree No. 52/2024/ND-CP, including general principles and internal regulations on preventing and combating money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction;

c) Within 10 working days, relevant Departments, Authorities, and units under the State Bank (if any) shall provide written opinions to the Payment Department regarding contents related to their functions and duties.

4. After receiving the opinions of relevant Departments, Authorities, and units under the State Bank as prescribed in Clause 3 of this Article, the Payment Department shall consolidate the opinions and handle as follows:

a) Sending a written request to the organization for explanation and finalization of the dossier In case where the dossier lacks sufficient information to evaluate the compliance with the conditions prescribed in Clause 2, Article 22 of Decree No. 52/2024/ND-CP, thus requiring supplementation and finalization; or

b) Submitting a report to the Governor of the State Bank on the appraisal results of the dossier of the applicant organization, and send a written request to obtain opinions of the Ministry of Public Security and relevant authorities (In case where the dossier of application is evaluated as meeting the conditions prescribed in Clause 2, Article 22 of Decree No. 52/2024/ND-CP). After receiving the opinions of the Ministry of Public Security and relevant authorities, the Payment Department shall consolidate and submit to the Governor of the State Bank to decide on granting the license in accordance with regulations, or send a written reply to the organization refusing to grant the license (clearly stating the reasons for such refusal therein).

5. Within 60 days from the date the State Bank sends a written request for explanation and finalization of the dossier as prescribed at Point a, Clause 4 of this Article:

a) In case where the organization fails to provide a written explanation and finalize the dossier, the Director General of the Payment Department shall decide to return the dossier to the organization;

b) In case where the organization provides a written explanation and finalizes the dossier, the Payment Department shall act as the focal point to conduct the examination, obtain opinions from relevant units under the State Bank (if necessary) according to the process prescribed in Clause 3 of this Article, and handle as follows:

b1) Submitting a report to the Governor of the State Bank on the appraisal results of the dossier of the applicant organization, and send a written request to obtain opinions of the Ministry of Public Security and relevant authorities (In case where the dossier of application is evaluated as meeting the conditions prescribed in Clause 2, Article 22 of Decree No. 52/2024/ND-CP). After receiving the opinions of the Ministry of Public Security and relevant authorities, the Payment Department shall consolidate and submit to the Governor of the State Bank to decide on granting the license in accordance with regulations, or send a written reply to the organization refusing to grant the license (clearly stating the reasons for such refusal therein);

b2) In case where the dossier of application is evaluated as not meeting the conditions prescribed in Clause 2, Article 22 of Decree No. 52/2024/ND-CP, the Payment Department shall submit a report to the Governor of the State Bank on the appraisal results of the dossier of the applicant organization, and send a written reply to the organization refusing to grant the license (clearly stating the reasons for such refusal therein).”

Article 2. To amend and supplement Article 42

“Article 42. Responsibilities for coordination in the process for re-granting licenses

1. In case where the license expires, the Payment Department shall receive the dossier of the organization and handle as follows:

a) Upon receiving a complete and valid dossier as prescribed in Clause 1, Article 25 of Decree No. 52/2024/ND-CP, the Payment Department shall send a written request to obtain opinions of the Information Technology Department, the Anti-Money Laundering Department, and relevant Departments, Authorities, and units under the State Bank (if necessary); concurrently, the Payment Department shall submit to the Governor of the State Bank to send a written request to obtain opinions of the Ministry of Public Security and relevant authorities as prescribed at Point a, Clause 1, Article 28 of Decree No. 52/2024/ND-CP;

b) Within 05 working days from the date of receiving the written request of the Payment Department, the Information Technology Department, the Anti-Money Laundering Department, and relevant Departments, Authorities, and units under the State Bank (if any) shall provide written opinions to the Payment Department;

c) After receiving the opinions of relevant Departments, Authorities, and units under the State Bank, the Ministry of Public Security, and relevant authorities, the Payment Department shall consolidate and submit to the Governor of the State Bank to decide on re-granting the license in accordance with regulations, or send a written reply to the organization refusing to re-grant the license (clearly stating the reasons for such refusal therein).

2. In case where the license is lost, torn, burned, or canceled in any other form, the regional branch of the State Bank shall receive the dossier of the organization whose head office is located within the geographical area of the regional branch of the State Bank and handle as follows:

a) Upon receiving a complete and valid dossier as prescribed in Clause 2, Article 25 of Decree No. 52/2024/ND-CP, the regional branch of the State Bank shall send a written request to obtain opinions of relevant Departments, Authorities, and units under the State Bank (if necessary);

b) Within 05 working days from the date of receiving the written request of the regional branch of the State Bank, relevant Departments, Authorities, and units under the State Bank (if any) shall provide written opinions to the regional branch of the State Bank;

c) After receiving the opinions of relevant Departments, Authorities, and units as prescribed at Point b, Clause 2 of this Article, the regional branch of the State Bank shall consolidate the opinions and decide on re-granting the license in accordance with regulations, or send a written reply to the organization refusing to re-grant the license (clearly stating the reasons for such refusal therein).”

Article 3. To amend and supplement Article 43

“Article 43. Responsibilities for coordination in the process for amending and supplementing licenses

1. In case where the head office address of the organization is changed to a location other than that stated in the license for provision of payment intermediary services, the regional branch of the State Bank where the organization locates its head office address shall receive the dossier of the organization and handle as follows:

a) Upon receiving a complete and valid dossier as prescribed in Clause 1, Article 26 of Decree No. 52/2024/ND-CP, the regional branch of the State Bank shall send a written request to obtain opinions of relevant Departments, Authorities, and units under the State Bank (if necessary), the Ministry of Public Security, and relevant authorities;

b) Within 05 working days from the date of receiving the written request of the regional branch of the State Bank, relevant Departments, Authorities, and units under the State Bank (if any) shall provide written opinions to the regional branch of the State Bank;

c) After receiving the opinions of relevant Departments, Authorities, and units under the State Bank (if any), the Ministry of Public Security, and relevant authorities , the regional branch of the State Bank shall consolidate the opinions and decide on the amendment and supplementation of the license in accordance with regulations, or send a written reply to the organization refusing the amendment and supplementation of the license (clearly stating the reasons for such refusal therein).

2. In case where any of the following contents contained in the license for provision of payment intermediary services is changed: the organization's name, discontinuation of one or more licensed payment intermediary services, or connection to an additional international payment system of an international financial switching service provider, the Payment Department shall receive the dossier of the organization and handle as follows:

a) Upon receiving a complete and valid dossier as prescribed in Clause 1, Article 26 of Decree No. 52/2024/ND-CP, the Payment Department shall send a written request to obtain opinions of relevant Departments, Authorities, and units under the State Bank (if necessary); concurrently, the Payment Department shall submit to the Governor of the State Bank to send a written request to obtain opinions of the Ministry of Public Security and relevant authorities as prescribed at Point a, Clause 1, Article 28 of Decree No. 52/2024/ND-CP;

b) Within 05 working days from the date of receiving the written request of the Payment Department, relevant Departments, Authorities, and units under the State Bank (if any) shall provide written opinions to the Payment Department;

c) After receiving the opinions of relevant Departments, Authorities, and units under the State Bank, the Ministry of Public Security, and relevant authorities , the Payment Department shall consolidate the opinions and submit to the Governor of the State Bank to decide on the amendment and supplementation of the license in accordance with regulations, or send a written reply to the organization refusing the amendment and supplementation of the license (clearly stating the reasons for such refusal therein).

3. In case where multiple contents contained in the license for provision of payment intermediary services are changed (including a change of the head office address to a location other than that stated in the license for provision of payment intermediary services of the organization and other contents), the Payment Department shall receive the dossier of the organization and handle according to the process prescribed in Clause 2 of this Article.”.

Article 4. To add Clause 4 to Article 51

“4. The regional branch of the State Bank shall be responsible for receiving and processing administrative procedures of organizations whose head offices are located within the geographical area of the regional branch of the State Bank under the assignment of the Governor of the State Bank, and shall be responsible before the law and before the Governor of the State Bank for the results of the implementation of duties and authority delegated under the provisions of this Circular.”.

Article 5. Responsibilities for organizing implementation

Heads of units under the State Bank, credit institutions, foreign bank branches, and payment intermediary service providers shall be responsible for organizing the implementation of this Circular.

Article 6. Effect

1. This Circular takes effect on May 19, 2026.

2. Article 16, Article 17, and Article 18 of the Governor of the State Bank of Vietnam’s Circular No. 41/2025/TT-NHNN amending and supplementing a number of articles of Circular No. 40/2024/TT-NHNN on the provision of payment intermediary services are hereby repealed./.