Circular 18/2024/TT-NHNN prescribing bank card operations

CIRCULAR

Prescribing bank card operations

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

Pursuant to the January 18, 2024 Law on Credit Institutions;

Pursuant to the Government’s Decree No. 102/2022/ND-CP of December 12, 2022, defining the functions, tasks, powers and organizational structure of the State Bank;

Pursuant to the Government’s Decree No. 52/2024/ND-CP of May 15, 2024 prescribing non-cash payments;

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

The Governor of the State Bank of Vietnam promulgates the Circular prescribing bank card operations.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular prescribes the operations of bank cards (hereinafter referred to as cards), including: card issuance, use, payment, switching, electronic clearing, and card transaction settlement.

Article 2. Subjects of application

1. Card issuers.

2. Card acquirers.

3. Organizations providing intermediary payment services.

4. Card-accepting units.

5. Cardholders.

6. Other organizations and individuals related to card activities.

Article 3. Interpretation of terms

In this Circular, the terms below are construed as follows:

1. A bank card is a payment instrument issued by a card issuer to perform card transactions under the conditions and terms agreed upon by the parties.

2. A debit card is a card that allows the cardholder to perform card transactions within the amount and overdraft limit (if any) on the cardholder's payment account opened at the card issuer.

3. A credit card is a card that allows the cardholder to perform card transactions within the credit limit granted according to the agreement with the card issuer.

4. A prepaid card is a card that allows the cardholder to perform card transactions within the value of the money loaded onto the card, corresponding to the amount prepaid to the card issuer.

Prepaid cards include: personalized prepaid cards (with the cardholder's identifying information) and non-personalized prepaid cards (without the cardholder's identifying information).

5. A co-branded card is a card that simultaneously bears the brand of the card switching organization in Vietnam and the brand of an international card organization or the card switching organization of another country.

6. A physical card is a card that exists in tangible form, usually made of plastic, embedded with an electronic chip to store card data, and containing information printed on the card as prescribed in Article 11 of this Circular.

7. A non-physical card is a card that does not exist in a tangible form, existing in electronic form and displaying card information as prescribed in Article 11 of this Circular. A non-physical card may be printed as a physical card by the card issuer according to the agreement between the card issuer and the cardholder.

8. A card transaction is the use of a card to perform payment transactions, cash withdrawals, and other services provided by the card issuer and the card acquirer in accordance with the law regulations.

9. A fictitious payment transaction at a card-accepting unit is the use of a card to pay for goods and services but no actual purchase or provision of goods and services occurs.

10. A domestic card-present transaction is a card transaction in which the card is issued by a card issuer in Vietnam and used to perform card transactions at ATMs or point-of-sale card acceptance devices in Vietnam.

11. A counterfeit card is a card not issued by a card issuer but contains information from a real card and real cardholder.

12. A fraudulent or counterfeit card transaction is a transaction made with a counterfeit card or an unauthorized use of a card.

13. A cardholder is an individual or organization provided with a card by a card issuer for use, including the primary cardholder and supplementary cardholder.

14. A primary cardholder is an individual or organization that enters into a card issuance and use contract with the card issuer.

15. A supplementary cardholder is an individual permitted by the primary cardholder to use the card, and the primary cardholder commits in writing to fulfill all obligations arising from the use of the card according to the card issuance and use contract.

16. A card issuer is a credit institution or foreign bank branch authorized to issue cards as prescribed in Clause 1, Article 8 of this Circular.

17. A card acquirer is a credit institution or foreign bank branch authorized to process card payments as stipulated in Clause 1, Article 20 of this Circular.

18. Intermediary payment service providers include: card switching organizations, electronic clearing organizations for card transactions, and intermediary payment service providers cooperating with card acquirers.

19. A card switching organization is an intermediary payment service provider that performs card transaction switching for card issuers, card acquirers, intermediary payment service providers cooperating with card acquirers, international card organizations, and card-accepting units according to written agreements between the relevant parties.

20. An electronic clearing organization for card transactions is an intermediary payment service provider that performs electronic clearing of financial obligations arising from card transactions for card issuers, card acquirers, intermediary payment service providers cooperating with card acquirers, international card organizations, and card-accepting units according to written agreements between the relevant parties.

21. A card-accepting unit is a unit that accepts payment for goods and services by card.

22. An international card organization is an organization established and operating abroad according to foreign laws, which has agreements with card issuers, card acquirers, card switching organizations, and/or other relevant parties to cooperate in banking card activities for cards with identification numbers of card issuers issued by international card organizations or cards with identification numbers of card issuers from other countries, in accordance with Vietnamese laws and international commitments.

23. A Personal Identification Number (PIN) is a confidential code issued to the cardholder by the card issuer or created by the cardholder according to the process specified by the card issuer for use in card transactions.

24. Card acceptance devices at the point of sale include Point of Sale (abbreviated as POS), Mobile Point of Sale (abbreviated as mPOS), and other types of card acceptance devices, which are card readers and terminal devices installed and used at card-accepting units that cardholders can use their cards to pay for goods and services. Card acceptance devices may also be installed at branches and transaction offices of card acquirers to provide cash to cardholders according to the agreement between card acquirers and card issuers, in compliance with the scope of using card as prescribed in this Circular.

25. An automated transaction machine is a device that cardholders can use to perform one or several transactions such as depositing, loading, and withdrawing cash, transferring funds, paying for goods and services, checking account balances, changing PINs, querying card information, or other transactions as prescribed by law regulations.

26. A Bank Identification Number (BIN) is a series of digits that includes the following types: BINs identifying card issuers as regulated by the State Bank of Vietnam (hereinafter referred to as the State Bank) in the Regulation on the issuance, use, and management of bank card issuer identification numbers; BINs issued by international card organizations; and BINs from other countries. In cases where the card has a BIN issued by an international card organization or a BIN from another country, the issuance, use, and management of the BIN shall be conducted in accordance with the regulations of the international card organization or the issuing country.

27. A card issuance and use contract is a written agreement between the card issuer and the cardholder regarding the issuance and use of the card.

28. A card payment contract is a written agreement between the card acquirer and the card-accepting unit or with international card organizations, intermediary payment service providers (if any) regarding the acceptance of payment for goods and services by card.

29. The basic standards for domestic chip cards are the Basic Standards TCCS 01:2018/NHNNVN on Technical Requirements for Contact Chip Payment Cards in Vietnam and TCCS 02:2018/NHNNVN on Technical Requirements for Contactless Chip Payment Cards in Vietnam, issued by the Governor of the State Bank under Decision No. 1927/QD-NHNN of October 5, 2018, and any amendments, supplements, or replacements thereof (if any).

Article 4. Currency used in card transactions

1. Within the territory of Vietnam:

 a) Cash withdrawal transactions using cards must be conducted in Vietnamese Dong (VND);

 b) For other card transactions:

 (i) The transaction currency is the Vietnamese Dong. In case of foreign exchange being permitted for transactions according to the law regulations on foreign exchange management, the currency displayed in the transaction is either Vietnamese Dong or both Vietnamese Dong and foreign currency.

 (ii) The payment currency is Vietnamese Dong. Card-accepting units are only allowed to receive payments in Vietnamese Dong from card acquirers;

 c) In case conversion from foreign currency to Vietnamese Dong is necessary, the exchange rate between Vietnamese Dong and foreign currency is based on the rate agreed upon by the parties in accordance with the regulations of the State Bank.

2. Outside the territory of Vietnam:

 When performing card transactions outside the territory of Vietnam, the cardholder must make payments to the card issuer in Vietnamese Dong at the exchange rate agreed upon by the parties in accordance with the regulations of the State Bank.

Article 5. Charges of card service

1. Only the card issuer is allowed to collect charges from the cardholder according to the charge schedule of card service published by the card issuer, making sure that:

 a) The charge schedule of card service must clearly state the types of charges and the charge rates applicable to each type of card and card service;

 b) The charge schedule of card service of the card issuer must comply with law regulations, be publicly listed, and provided to the cardholder before use and whenever there is a change;

 c) The forms and deadlines for notifying and providing information about charges to the cardholder must be specifically stipulated in the card issuance and use contract. The period from notification to the application of charge changes must be at least 7 days;

 d) The card issuer must not collect any charges other than those listed in the charge schedule published.

2. Card acquirers negotiate the collection of charges with card-accepting units and intermediary payment service providers that cooperate with card acquirers. The sharing of charges between card issuers, card acquirers, intermediary payment service providers, and international card organizations is agreed upon by the parties in accordance with law regulations.

Article 6. Handling risks and asset losses in card business

1. The card issuer establishes and uses reserves to handle credit risks in the card business according to the Government's regulations on the establishment and use of reserves to handle credit risks.

2. For other types of risks in the card business, the card issuer and the card acquirer handle asset losses arising according to the law regulations on the financial regime for credit institutions and foreign bank branches.

Article 7. Card revocation

A card will be revoked in the following cases:

1. Counterfeit card.

2. Unauthorized use of the card.

3. For the purpose of investigation and handling of crimes in accordance with law regulations.

4. Other card revocation cases as agreed upon in the card issuance and use contract.

Chapter II

CARD ISSUANCE

Article 8. Card issuers

1. Card issuers include:

 a) Commercial banks, cooperative banks, and branches of foreign banks that are allowed to issue cards when card service provision is recorded in the license issued by the State Bank;

 b) Policy banks issuing cards in accordance with the Government's regulations and the provisions of this Circular;

 c) General financial companies and consumer credit financial companies allowed to issue credit cards when credit card issuance is recorded in the license issued by the State Bank.

2. Card issuers must comply with the basic standards for domestic chip cards when issuing cards with BIN issued by the State Bank.

3. Card issuers must issue internal regulations on card issuance and card use to ensure compliance with the provisions of this Circular and relevant laws.

4. Card issuers must use BIN issued by the State Bank, except as provided in Clause 5 of this Article.

5. Card issuers authorized to engage in foreign exchange activities may sign agreements with international card organizations to issue cards with BIN issued by international card organizations.

6. Card issuers must not agree with other organizations to limit or prevent the issuance of co-branded cards.

Article 9. Procedure of card issuance

1. The agreement on card issuance and use must be established in a card issuance and use contract in accordance with the provisions of this Circular and relevant law regulations. The content of the contract is implemented according to the provisions of Article 12 of this Circular.

2. Before entering into the card issuance and use contract at the request of the client, the card issuer requires the cardholder to provide all necessary documents, information, and data for client identification in accordance with the laws on anti-money laundering and relevant law regulations:

a) In case of individual clients who are Vietnamese citizens, the card issuer requires the client to provide identification documents to recognize the client: Citizen Identification Card or Identity Card or Electronic Identity Card (through access to the Level 02 electronic identification account) or People's Identity Card;

b) In case of individual clients of Vietnamese origin whose nationality has not yet been determined, the card issuer requires the client to provide identification documents to recognize the client: Certificate of Identity.

c) In case of individual clients who are foreigners, the card issuer requires the client to provide identification documents to recognize the client: Passport and entry visa or documents substituting for a visa or documents proving visa exemption; or electronic identity (through access to the Level 02 electronic identification account) (if any). The card issuer requires the client to provide necessary documents to verify the duration of stay in Vietnam, such as a work permit or documents issued by competent state authorities proving the duration of staying in Vietnam;

d) In case of organizational clients, the card issuer requires the client to provide information, documents, and data to recognize the client in accordance with the laws on anti-money laundering and the provisions of this Article; including documents, information, and data of the legal representative of the organization or the authorized representative of another organization (hereinafter referred to as the legal representative).

3. The collection and storage of client documents, information, and data must meet the following requirements:

a) Documents in paper form must be the original or a certified copy or a copy issued from the original register or a copy accompanied by the original for comparison in accordance with the law regulations. In case the original is presented for comparison, the card issuer must certify the copy and take responsibility for the accuracy of the copy compared to the original;

b) In case of documents, information, and data in electronic form, the card issuer must check, compare, confirm to ensure the completeness and accuracy of the content, and store it in accordance with law regulations on electronic transactions;

c) In case the documents, information, and data mentioned in Points a and b of this Clause are in a foreign language, the card issuer may agree with the client on whether or not to translate them into Vietnamese, but must ensure the following principles:

(i) The card issuer must check, control, and take responsibility for confirming the content of the documents, information, and data in a foreign language to ensure they meet the information requirements specified in this Circular;

(ii) Documents, information, and data in a foreign language must be translated upon request by a competent authority;

d) The documents, information, and data as specified in Clause 2 of this Article must remain valid and usable throughout the process of card issuance and use.

4. When issuing debit cards, the card issuer must require the primary cardholder to have a payment account opened at the card issuer.

5. The card issuer must stipulate the validity period of the card, in which the validity period for personalized prepaid cards must not exceed 03 years. Before continuing to renew the card for the client, the card issuer must implement measures to re-authenticate and verify the client in accordance with the laws on anti-money laundering and the provisions of this Circular.

6. At least 15 days before the expected date of issuing a new type of card or changing the issued card model, the card issuer must send a notification of the card model to be issued to the State Bank according to the form in Appendix 01 issued with this Circular. Within 15 days from the date of cessation of further issuance of an issued type of card, the card issuer must notify the State Bank in writing for the purposes of monitoring and management.

7. The card issuer, based on the conditions and capabilities of its unit, shall guide the card issuance procedure for clients who are disabled, but must ensure the collection of sufficient documents, information, and data to verify client identification information in accordance with the laws on anti-money laundering and this Circular.

8. In case of discovering a client using counterfeit, unlawful documents, information, or data, or the client on the blacklist as prescribed by the laws on anti-money laundering, the card issuer must report to the competent authorities and handle the situation according to law regulations.

9. The card issuer may issue debit cards, credit cards, and personalized prepaid cards to primary cardholders who are individuals or organizations through electronic means. The procedures for issuing cards by electronic means shall be carried out in accordance with the provisions of this Article and Article 10 of this Circular.

Article 10. Card issuance by electronic means

1. The card issuer must develop and issue internal regulations on the process and procedures for card issuance by electronic means in accordance with this Circular, the laws on anti-money laundering, electronic transactions, personal data protection, and ensure the safety and security of client information and the operational safety of the card issuer. These regulations must include at least the following steps:

a) Collecting documents, information, and data to identify clients as stipulated in Clause 2, Article 9 of this Circular, and biometric information of the cardholder for individual clients, and biometric information of the legal representative for organizational clients;

b) Performing checks, cross-references, and verification of client identification information. In this regard, the card issuer must ensure the accuracy of the biometric information of the cardholder (for individual clients) or the legal representative (for organizational clients) against:

(i) Biometric data stored in the encrypted information storage section of the national ID card or accurately authenticated ID card issued by the police authority, or through the electronic identification account authentication system created by the Electronic Identification and Authentication System; or

(ii) Biometric data that has been collected and verified (ensuring the accuracy between the individual's biometric data and the biometric data stored in the encrypted information storage section of the national ID card or accurately authenticated ID card issued by the police authority or with the individual's biometric data through the electronic identification account authentication system created by the Electronic Identification and Authentication System).

c) Displaying warnings to clients about prohibited actions during the process of card issuance and use via electronic means; implementing solutions to ensure that clients are fully aware of the warnings;

d) Providing clients with a card issuance and use contract as stipulated in Article 12 of this Circular, and having technical measures in place to confirm acceptance as specified at Point b, Clause 2 of this Article;

dd) Informing clients about the name of the card issuer, the card's name or trademark (if any), the card number, the card’s validity period, the cardholder's name, the card’s scope and functionality, and the legal prohibitions on using card.

2. The card issuer is authorized to determine the measures, forms, and technology for client identification and verification to facilitate card issuance via electronic means, bearing responsibility for any arising risks (if any) and meeting the following minimum requirements:

a) The measures, forms, and technology chosen by the card issuer must meet security, safety, and confidentiality standards as stipulated by the State Bank;

b) There must be technical measures utilizing electronic means to confirm the acceptance of the cardholder (for individual clients) or the legal representative (for organizational clients) regarding the contents of the card issuance and use contract;

c) Fully and systematically store and preserve all information and data for client identification during the card issuance and use process, such as client identification information; client biometric factors; audio, images, video recordings; transaction phone numbers; and transaction logs. This information and data must be securely and confidentially stored, backed up, and ensure the completeness and integrity of the data to facilitate checks, cross-references, dispute resolutions, complaints, and the provision of information upon request from competent state management agencies. The retention period must comply with the laws on anti-money laundering;

d) During the implementation of card issuance via electronic means, the card issuer must regularly self-check and evaluate the safety and security level of the electronic authentication solution. If there are signs of technological insecurity, the card issuer must immediately suspend the service to upgrade, modify, and improve the solutions.

3. The issuance of cards by electronic means as stipulated in this Article does not apply to the subjects specified at Point b, Clause 1 and Clause 3, Article 15 of this Circular.

4. The provision of credit via credit cards and overdraft debit cards must comply with the regulations in this Article and the provisions of Article 14 of this Circular.

Article 11. Information on the card

1. The information printed on a physical card must include the following elements:

a) The name of the card issuer. In cases where the card bears the abbreviated name or commercial logo of multiple organizations (including the card issuer, the organization cooperating with the card issuer for card issuance, the card switching organization, international card organizations, and related units), the abbreviated name or commercial logo of the cooperating organization must not be larger than that of the card issuer. The information on the card must clearly state in Vietnamese that the card is issued by the card issuer;

b) The name of the card switching organization of which the card issuer is a member (abbreviated name or commercial logo of the card switching organization), except in cases where the card does not have transaction features through the card switching services of the card switching organization;

c) The name or commercial trademark of the card (if any);

d) The full name of the cardholder for individual cardholders; the name of the organization for organizational cardholders and the full name of the individual authorized by the organization to use the card. This provision does not apply to anonymous prepaid cards.

2. In addition to the information stipulated in Clause 1 of this Article, the card issuer may include additional information on the card, provided it complies with law regulations.

3. When issuing co-branded cards, the card issuer must ensure that the commercial logos of the Vietnamese card switching organization and the international card organization or the card switching organization of another country are arranged without any discrimination between the organizations (the logos must be of the same size and placed on the same side of the card).

Article 12. Card issuance and use contract

1. The card issuance and use contract must include at least the following contents:

a) Contract number;

b) The date (day, month, year) the contract was established;

c) The name of the card issuer, the name of the cardholder, and the full name of the individual authorized by the organization to use the card;

d) Details regarding the rights and obligations of the parties;

dd) Charge regulations (types of charges, changes in charges);

e) The provision of information and the form of notifications from the card issuer to the cardholder regarding card issuance, account balance, transaction history, and other necessary information;

g) Agreement on credit extension to the cardholder, including credit limits (payment limit, cash withdrawal limit, and other limits) and changes in card use limits, overdraft limits (for debit cards), and credit limits; interest rates, methods of calculating interest in credit activities as prescribed by the Governor of the State Bank, order of refund of principal and interest (for credit cards and overdraft debit cards); credit extension period, purpose of credit extension, refund period, minimum refund amount, refund method, overdue debt penalty charges (if any). The agreement on extension credit to the cardholder can be stated in the card issuance and use contract or in a separate agreement document;

h) Scope, use limits, and validity period of the card;

i) Cases of temporary card lock, payment refusal, and temporary suspension of card transactions;

k) Cases of card revocation or cancellation of card validity during use (including cases that the card issuer discovers that the customer used fake documents, impersonation to issue the card, or used the card for fraudulent purposes, scams, or other illegal activities, and other cases in accordance with law regulations);

l) Cases of refunding the remaining unused balance on the card;

m) Implementation of measures to ensure safety and security in card use, and procedures in case of card loss or information disclosure;

n) Methods for receiving investigation and complaint requests; time limit for processing investigation and complaint requests and handling of investigation and complaint results as stipulated in Article 19 of this Circular;

o) Cases of force majeure;

p) Processing of personal data of clients and related individuals as stipulated in this Circular or personal data provided by the organizational client; providing information for third parties to facilitate the provision of card services to the cardholder or to handle suspected cases of fraud, impersonation, or legal violations.

2. For anonymous prepaid cards, the card issuer must establish regulations and terms for the issuance and use of anonymous prepaid cards and publicly inform clients about these terms. The card issuer must have a written agreement with the party requesting the issuance of anonymous prepaid cards, which must include at least the following contents: information about the party requesting card issuance, the number of cards issued, card limits, procedures for reloading the card, the scope of card use, the validity period of the card.

Article 13. Card limits

1. The card issuer and the cardholder shall agree on payment limits, transfer limits, cash withdrawal limits, and other limits on card use for the cardholder in accordance with this Circular, current law regulations on foreign exchange management, and relevant law regulations.

2. For foreign currency cash withdrawal limits abroad, a card can withdraw a maximum amount of foreign currency equivalent to 30 (thirty) million Vietnamese dong per day.

3. For credit cards, the total cash withdrawal limit based on the BIN of the credit card is a maximum of 100 (one hundred) million Vietnamese dong per month.

4. For prepaid cards, the card issuer shall specifically stipulate the balance limits, top-up limits, and transaction limits, ensuring that the balance at any time on an anonymous prepaid card does not exceed 5 (five) million Vietnamese dong, and the total transaction limit (including cash withdrawals, transfers, and payments for goods and services) on a registered prepaid card does not exceed 100 (one hundred) million Vietnamese dong per month.

Article 14. Credit extension via cards

1. Credit extension via credit cards must ensure the following requirements:

a) It must be carried out according to the card issuance and use contract and other agreements on credit extension between the card issuer and the cardholder (if any);

b) The card issuer must have internal regulations on credit extension via credit cards (including regulations on credit extension via credit cards by electronic means, if any) in compliance with law regulations on safety in credit extension activities. These regulations must specifically stipulate: the subjects of credit extension, credit limits (including credit limits, cash withdrawal limits, and other limits), conditions, duration of credit extension, and refund period, restructuring of refund periods, minimum refund amounts, applicable interest rates, methods of calculating interest in credit extension activities as prescribed by the Governor of the State Bank, order of refund of principal and interest, overdue debt penalty charges, procedures for applying overdue debt collection measures, the timeline for applying each overdue debt handling measure, the purpose of credit extension, the appraisal and credit extension decision process according to the principle of clearly delineating responsibilities between appraisal and credit extension decision-making stages, measures for debt recovery to ensure the responsibilities of departments in the card issuer in the process of debt recovery;

c) For credit extension via cards as stipulated in Clause 2 of this Article, the card issuer must have at least information about the lawful purpose of fund use and the financial capability of the client before deciding credit extension;

d) For credit extension via cards not falling under the stipulations of Clause 2 of this Article, the card issuer must require the client to provide information, documents, and data proving the client's financial capability, feasible plan for fund use, lawful purpose of fund use, and information about related parties before deciding credit extension;

dd) Information about related parties of the client as stipulated in Point d of this Clause includes the following:

(i) Information about related individuals, including: full name; personal identification number; nationality, passport number, date of issue, place of issue for foreigners; and the relationship with the client;

(ii) Information about related organizations, including: name, business registration number, address of the head office, business registration certificate number or equivalent legal documents; legal representative, and relationship with the client;

e) The card issuer shall review and decide on credit extension via credit cards for cardholders that meet all of the following conditions:

(i) The cardholder is an individual under the subject specified in Clause 1, Article 15 of this Circular;

(ii) The cardholder is an organization under the subject specified in Clause 2, Article 15 of this Circular and not under the subjects prohibited from receiving credit as stipulated in Article 134 of the Law on Credit Institutions;

(iii) The cardholder has a feasible plan for fund use (not mandatory for cases specified in Clause 2 of this Article), a lawful purpose for fund use, and the financial capability to fully and timely refund principal, interest, and charges;

g) The card issuer shall agree with the client on whether to apply measures to secure the fulfillment of debt refund obligations in accordance with law regulations;

h) The credit limit for individual credit cards as specified in Clause 1, Article 134 and Point dd, Clause 1, Article 135 of the Law on Credit Institutions is as follows:

(i) In case of issuing credit cards with secured assets: the credit limit granted to the cardholder is determined by the card issuer according to its internal regulations on credit extension via credit cards and is a maximum of 1 (one) billion Vietnamese dong;

(ii) In case of issuing credit cards without secured assets: the credit limit granted to the cardholder is a maximum of 500 (five hundred) million Vietnamese dong.

2. Credit extension via cards with a small value as stipulated in Clause 2, Article 102 of the Law on Credit Institutions is credit extension that does not exceed 400 (four hundred) million Vietnamese dong.

3. Overdraft lending for debit cards of the card issuer must comply with the regulations of the Governor of the State Bank on lending activities of credit institutions and bank branches to clients.

4. Credit extension via credit cards and overdraft lending for debit cards of the card issuer must comply with the regulations on credit extension restrictions and credit extension limits as stipulated in Articles 135 and 136 of the Law on Credit Institutions and the guidelines of the State Bank.

5. The card issuer must store credit records in accordance with the provisions of the Law on Credit Institutions; the retention period for credit records must comply with law regulations on archival.

6. The card issuer has the right and obligation to inspect and supervise the use of the credit granted via cards and the refund by clients as stipulated in Clause 1, Article 102 of the Law on Credit Institutions. The card issuer must implement measures to inspect and supervise the use of cards and client refunds, ensuring the full and timely recovery of principal, interest, and charges as agreed, and ensuring the use of cards for the correct purpose in accordance with Clause 2, Article 102 of the Law on Credit Institutions and Clause 2 of this Article. The card issuer has the right to request clients to report on the use of the credit extension via cards and provide documents and data proving that the credit extension via cards is used for the correct purpose.

Chapter III

CARD USE

Article 15. Eligible card users

1. For primary cardholders who are individuals:

a) Persons aged 18 years or older with full civil act capacity as prescribed by law regulations are eligible to use debit cards, credit cards, and prepaid cards;

b) Persons aged 15 to under 18 years who are not incapacitated or limited in civil act capacity are eligible to use debit cards, credit cards, and prepaid cards.

2. For primary cardholders who are organizations: organizations that meet the conditions to open a payment account are eligible to use debit cards. Legal entities established and operating legally under Vietnamese law are eligible to use credit cards and identified prepaid cards. The cardholder organization may authorize individuals in writing to use the organization's card or permit individuals to use a supplementary card in accordance with this Circular and law regulations on authorization.

3. For supplementary cardholders:

Supplementary cardholders may use the card as specifically designated by the primary cardholder but only within the following scope:

a) Persons aged 18 years or older with full civil act capacity as prescribed by law are eligible to use debit cards, credit cards, and prepaid cards;

b) Persons aged 15 to under 18 years who are not incapacitated or limited in civil act capacity are eligible to use debit cards, credit cards, and prepaid cards;

c) Persons aged 6 to under 15 years who are not incapacitated or limited in civil act capacity may use debit cards and prepaid cards with the written consent of their legal representative (the primary cardholder).

4. In the case where the eligible card users specified in Clauses 1 and 3 of this Article are foreigners, they must have a residence period in Vietnam of 12 months (360 days) or more from the time of requesting card issuance; the card validity period must not exceed the remaining residence period in Vietnam.

5. Cardholders must provide complete, accurate, and timely information, documents, and data as required by the card issuer to verify and identify the client before concluding the card issuance and use contract. During the card use period, the cardholder is responsible for the authenticity of the information, documents, and data they provide.

6. When using credit cards and overdraft debit cards, cardholders must use the funds for the committed purposes and fully and timely refund the card issuer the principal, interest, and charges arising from the use of the card according to the contract concluded with the card issuer.

7. The card issuer shall take necessary measures to update, check, review, cross-reference, and identify the client during the card use process.

Article 16. Scope of card use

1. Debit cards and personalized prepaid cards are used to conduct card transactions as agreed between the cardholder and the card issuer.

2. Credit cards are used to pay for lawful goods and services; withdraw cash as agreed between the cardholder and the card issuer; they must not be used for transferring funds (or crediting) to payment accounts, debit cards, or prepaid cards.

3. Anonymous prepaid cards can only be used to pay for lawful goods and services at card-accepting devices at points of sale within the territory of Vietnam; they cannot be used for card transactions via electronic means and cannot be used to withdraw cash.

4. Supplementary cards issued to supplementary cardholders under 15 years old are not allowed to withdraw cash and can only be used to pay for lawful goods and services, within the use scope agreed in writing between the card issuer and the primary cardholder.

5. Cards are used to pay for the purchase of lawful goods and services according to the laws of Vietnam, including the purchase of goods and services abroad.

6. Cards can only be used to conduct card transactions via electronic means when the verification of the cardholder's identity documents and biometric information has been completed, ensuring a match with:

 a) The biometric data stored in the encrypted information storage unit of the national ID card or ID card that has been accurately authenticated by the Public Security authority or through the electronic identity verification account created by the Electronic Identity and Authentication System; or

 b) The biometric data that has been collected and checked (ensuring a match between the biometric data of the person and the biometric data in the encrypted information storage unit of the national ID card or the ID card that has been accurately authenticated by the Public Security authority, or the person's biometric data through the authentication of the electronic identity verification account created by the Electronic Identity and Authentication System); or

 c) The biometric data collected through direct face-to-face meetings with the person in the case of foreigners who do not use electronic identities, or people of Vietnamese origin who have not yet determined their nationality; or

 d) The person's biometric data stored in the National Population Database in cases where the national ID card does not have an encrypted information storage unit.

Article 17. Ensuring security, safety, and confidentiality in using cards

1. The card issuer:

a) Take responsibility for risk management when issuing various types of cards;

b) Disseminate and instruct clients on card services, correct card use procedures, potential risks when using cards, how to handle incidents, prohibited behaviors when using cards, and the responsibilities of the cardholder when violations occur;

c) Implement measures to ensure safety and prevent risks for card transactions according to risk management principles in electronic banking activities; secure information related to card activities; ensure that the infrastructure and technical systems serving card issuance and payment operations run smoothly and safely;

d) Establish and maintain a hotline that operates continuously 24 hours a day and 7 days a week to promptly receive and handle chargeback from cardholders;

dd) Coordinate with card acquirers, card switching organizations, and electronic card transaction clearing organizations to implement necessary measures to ensure safety in card operations; manage risks for other related parties according to risk management principles in electronic banking activities;

e) Have measures in place to check, verify, and confirm client identification information during the card issuance and use process, including: measures to check the legality and validity, and to ensure the accuracy and correctness of the documents, information, and data collected from the client during the card issuance and use process; measures to prevent impersonation, interference, modification, and falsification of client identification information verification during the card issuance and use process; technical measures and technological solutions to ensure the accuracy of the client's biometric information as specified at Point b, Clause 1, Article 10, and Clause 6, Article 16 of this Circular; measures to ensure that card use is conducted by the cardholder; and other measures stipulated by the card issuers to prevent and combat fraud, impersonation, legal violations, or the misuse of cards for illegal purposes;

g) Have measures in place to control card use within the agreed scope and limits between the card issuers and the cardholder as stipulated in this Circular;

h) Develop a set of criteria to identify cards with suspected signs of fraud, deceit, or legal violations (hereinafter referred to as the Criteria) based on the suspected reasons listed in Appendix No. 02 issued with this Circular. The card issuers must regularly review, modify, supplement, and update the Criteria based on information, documents, and data during the card issuance and use process.

i) Identify potential risks that may arise in card issuance and use activities and implement corresponding risk handling measures. These measures include:

(i) Regulations on transaction scope and limits according to risk levels categorized by client types, with specific measures for managing risks for clients under 18 years old;

(ii) Cases requiring the updating and re-verification of client identification information, including cases as specified at Point n of this clause;

(iii) Cases where card transactions via electronic means are to be refused or temporarily suspended;

k) Regulations on checking and verifying cardholder identification information against the information support system for managing, supervising, and preventing fraud risks in payment activities of the State Bank and the list of clients suspected of fraud, deceit, or legal violations provided by the Ministry of Public Security and other relevant authorities (if any) to apply appropriate risk management measures;

l) Provide information on cards with signs of fraud or forgery to competent authorities investigating card-related crimes; check, review, or coordinate with competent authorities to update the list of cards that need to be refused payment or show signs of forgery for credit institutions and card-accepting units; coordinate with competent authorities and related parties in preventing, combating card-related crimes, and investigating and handling detected card crimes according to the law;

m) Regularly warn and guide clients about criminal methods and tricks in card issuance and use; guide the secure use of card information and safe card use;

n) The card issuers must re-verify client identification information and promptly apply measures according to anti-money laundering laws in the following cases:

(i) The client exhibits suspicious signs as stipulated by the laws on anti-money laundering;

(ii) The card issuers have grounds to suspect the legality and validity of the documents, information, and data collected from the client when concluding the card issuance and use contract and during the card use process;

(iii) The cardholder's information is on the fraud, deceit suspicion list of the information support system for managing, supervising, and preventing fraud risks in payment activities of the State Bank or the list of clients suspected of fraud, deceit, or legal violations provided by the Ministry of Public Security and other relevant authorities (if any);

(iv) Card or cardholder information is inconsistent with or does not match the information and data of the relevant authorities;

o) Regulations on documents and vouchers related to overseas card transactions and perform checks, store documents, and vouchers according to the law on foreign exchange management and electronic transactions;

p) Strictly monitor and be responsible for ensuring that overseas card transactions are conducted for the correct purposes and within the card use limits stipulated in this Circular, and in compliance with the law on foreign exchange management;

q) The card issuers must monitor the validity period of identification documents and proof of residence in Vietnam of clients as stipulated in Clause 2, Article 9 of this Circular; notify clients at least 30 days before the expiration date of identification documents and proof of residence in Vietnam to timely request clients to update and supplement; temporarily suspend card transactions for cases where the client's identification documents and proof of residence in Vietnam have expired.

2. Cardholders and individuals authorized by the cardholder organization to use the card must: safeguard the card, secure the PIN, other cardholder verification codes, card information, and transaction information, ensuring that card information is not disclosed; notify and coordinate with the card issuers to address cases of lost cards or when requests for investigation or complaints arise.

3. Card acquirers:

a) Coordinate with card issuers, card switching organizations, electronic card transaction clearing organizations, payment intermediary organizations cooperating with card acquirers, card-accepting units, competent authorities, and other related parties to prevent and combat crimes related to card operations;

b) Require card-accepting units to provide documents proving the legality of their business activities when entering into contracts with them. Card acquirers must establish criteria for selecting card-accepting units and conduct initial and periodic evaluations and classifications (quarterly or annually) of entities accepting card payments based on the characteristics and business sectors;

c) Implement measures to strictly check and manage card-accepting units, especially those with wireless card-accepting devices. If it is discovered or there are grounds to believe that card-accepting units engage in prohibited activities as stipulated in the Decree on non-cash payments, such as conducting fraudulent payment transactions, transferring card-accepting devices to others for use, accepting card payments without a card payment contract, or illegally using card-accepting devices of card acquirers, in Vietnam or abroad, card acquirers, shall notify the responsible agency or organization for receiving crime reports and denunciations or the competent authority to coordinate monitoring, handling, and considering the application of appropriate preventive measures, including terminating or requiring the cooperating payment intermediary organizations to terminate card payment contracts with the merchant.

4. Card-accepting units must fully implement technical and operational procedures and ensure the confidentiality of cardholder information, detect fraud and forgery in card payments as guided by the card acquirers, and are responsible for any damages if they fail to comply with the regulations of card acquirers.

5. When participating in agreements on bank card operations, card issuers, card acquirers, payment intermediary organizations cooperating with TCTTT, card switching organizations, and electronic card transaction clearing organizations must agree that all related parties are responsible for complying with laws regarding foreign exchange management, personal data protection, privacy rights, document confidentiality, and the security of card information, card transactions, and cardholder accounts.

6. Card acquirers cooperating with payment intermediary payment service providers via cards must ensure compliance with the regulations of this Circular and the Circular regulating the provision of intermediary payment services.

Article 18. Handling cases of lost cards or card information disclosure

1. When a card is lost or card information is disclosed, the cardholder must immediately notify the card issuer.

2. Upon receiving the cardholder's notification, the card issuer must immediately lock the card and coordinate with relevant parties to implement other necessary operational measures to prevent potential damages, and notify the cardholder accordingly. After locking the card, the card issuer must complete the handling of the notification received from the cardholder within no more than 5 working days for cards with a BIN issued by the State Bank or 10 working days for cards with a BIN issued by international organizations from the date of receiving the notification from the cardholder.

3. In cases where the card is misused, causing damage, the card issuer and the cardholder must determine responsibility and negotiate a way to handle the consequences. If both parties cannot reach an agreement, the handling will be carried out according to law regulations.

Article 19. Investigation and handling of complaints during card use

1. When an error is detected or suspected in card transactions, the cardholder has the right to request an investigation from the card issuer. The card issuer must specify a period during which the cardholder can request an investigation or file a complaint, which must be no less than 60 days from the date the transaction in question occurred.

2. The card issuer shall handle the cardholder's investigation requests and complaints, ensure compliance with at least the following regulations:

a) Provide at least two methods for receiving investigation and complaint information: via a telephone hotline (which is recorded and operates 24/7) and through legitimate transaction points of the card issuer; ensure the authentication of basic information that the cardholder has provided to the card issuer;

b) Issue investigation and complaint request forms (both paper and electronic) for cardholders to use when making requests. When receiving information via telephone hotline or online channels, the card issuer must require the cardholder to provide necessary information for client verification and have measures to store the information provided by the client as a basis for handling investigations and complaints. In case of authorizing another person to request an investigation or complaint, the cardholder must follow the law regulations on authorization;

c) The card issuer must immediately take measures to lock the card when the cardholder requests it due to suspected fraud or loss, and is responsible for all financial losses incurred by the client after the time the client requested the card to be locked;

d) The card issuer shall resolve investigation requests and complaints and provide the results to the cardholder within the following time limits:

(i) For cards with a BIN issued by the State Bank, the time limit for handling investigation requests and complaints must be specifically agreed upon with the client in the card issuance and use contract and must not exceed 30 working days from the date of receiving the cardholder's initial investigation request or complaint through one of the receiving methods specified at Point a of this clause;

(ii) For cards with a BIN issued by international organizations, the time limit for handling investigation requests and complaints must be specifically agreed upon with the client in the card issuance and use contract.

3. Handling of investigation and complaint results:

a) Within a maximum of 5 working days from the date of notifying the investigation or complaint results to the client, the card issuer must compensate the cardholder according to the agreement and current law regulations for losses not caused by the cardholder's fault and/or not under force majeure circumstances as agreed in the contract. If the loss is caused by the fault of related parties (card acquirers, intermediary payment service providers, international card organizations, card-accepting units), the party at fault must compensate the card issuer according to the agreement between the parties in accordance with law regulations;

b) If the time limit for handling the investigation or complaint request as agreed in the card issuance and use contract expires and the cause or fault cannot be determined, within the next 15 working days, the card issuer must negotiate with the cardholder on a handling solution or temporarily compensate the cardholder for the losses until the competent authority issues a final conclusion clearly defining the fault and responsibilities of the parties;

c) If the card issuer, the cardholder, and related parties cannot reach an agreement or do not agree with the investigation or complaint handling results, the dispute resolution will be carried out according to law regulations.

4. If the case shows signs of criminal activity, the card issuer must notify the competent state authority according to the legal procedures for criminal proceedings and report to the State Bank (Payment Department, and the State Bank branches in provinces and cities). At the same time, the card issuer must notify the cardholder in writing about the status of handling the investigation or complaint request. If the competent state authority concludes that there is no criminal element involved, the card issuer must, within 15 working days from the date of the authority's conclusion, negotiate with the cardholder on a solution for handling the investigation or complaint results.

5. The card issuer must provide a solution for the cardholder to be able to check the information, progress, and results of the investigation or complaint handling online.

Chapter IV

PAYMENT AND SETTLEMENT OF CARD TRANSACTIONS

Article 20. Card acquirers

1. Card acquirers include:

 a) Commercial banks, cooperative banks, and branches of foreign banks are allowed to process card payments when card service provision activities are recorded in the license issued by the State Bank;

 b) Policy banks are permitted to process card payments according to the Government's regulations and the provisions of this Circular.

2. Card acquirers permitted to conduct foreign exchange activities are allowed to provide card payment services for cards with a BIN issued by international organizations and cards with a BIN from other countries.

3. Card acquirers must coordinate with relevant parties to develop card payment processes and procedures, clearly defining the steps for handling card transactions as well as the responsibilities of the involved parties, ensuring compliance with this Circular and current regulations on electronic banking activities; manage, operate, and ensure the safety and continuous operation of equipment serving card payments.

4. Card acquirers must comply with the basic standards for domestic chip cards applied to ATMs and card-accepting devices at points of sale of credit institutions.

5. Card acquirers shall handle card payment transactions based on agreements between the card acquirers and card switching organizations, card issuers, international card organizations, intermediary payment service providers cooperating with the card acquirers, and other relevant parties regarding card payment processes and procedures.

6. When cooperating with intermediary payment service providers and card-accepting units, card acquirers must comply with the provisions of the Circular on providing non-cash payment services and the Circular on providing intermediary payment services.

7. Card acquirers must display the name (abbreviation or commercial logo) of the card switching organization of which the card acquirers is a member on their ATMs and on card-accepting devices at their card-accepting units.

8. Card acquirers must not discriminate between payments for cards with a BIN issued by the State Bank, cards with a BIN issued by international card organizations, and cards with a BIN from other countries; nor may they agree with other organizations to restrict or prevent the acceptance of co-branded card transactions.

9. Card acquirers shall coordinate with intermediary payment service providers that cooperate with them to ensure the appraisal, selection, and supervision of card-accepting units comply with the provisions of this Circular and the Circular on providing intermediary payment services.

Article 21. Card-accepting units

1. Card-accepting units must comply with the regulations on card-accepting units as stipulated in the Circular on providing non-cash payment services.

2. Card-accepting units shall provide invoices, transaction documents, and invoices or documents for goods and services related to card transactions at the card-accepting units according to the law regulations, card acquirers, card issuers, and the intermediary payment service providers cooperating with the card acquirers, or in necessary cases to prove the legality and legitimacy of the goods and services provided by the merchant for the card transactions.

Article 22. Card switching and electronic clearing organizations for card transactions

1. Card switching and electronic clearing for card transactions between card issuers and card acquirers for card transactions with BIN issued by the State Bank must be conducted through card switching organizations and electronic clearing organizations for card transactions licensed by the State Bank.

2. Card switching for domestic card transactions with BIN issued by international card organizations and cards with BIN from other countries between card issuers, card acquirers and international card organizations must be conducted through a gateway operated by a card switching organization licensed by the State Bank.

3. Electronic clearing of card transactions with BIN issued by international card organizations and cards with BIN from other countries shall be conducted according to agreements between card issuers, card acquirers, and relevant parties.

4. Card switching organizations and electronic clearing organizations for card transactions shall agree with participating member organizations on standards, rules, business processes, and other regulations concerning card switching and electronic clearing activities for card transactions in accordance with the law.

5. Card switching organizations and electronic clearing organizations for card transactions shall establish direct system connections with card issuers, card acquirers and international card organizations according to agreements between the parties, ensuring the safe and continuous provision of switching services and other services to member organizations, connected international card organizations, and complying with relevant law regulations.

Article 23. International card organizations

1. International card organizations must enter into agreements with card switching organizations licensed by the State Bank to implement the provisions specified in Clause 2, Article 22 of this Circular.

2. International card organizations must not impose restrictions on card issuers and card acquirers for the purpose of:

 a) Unfair treatment regarding the brand printed on the cards of affiliated and cooperating card issuers;

 b) Restricting the right of card-accepting units to choose card switching organizations through charge regulations or other obligations.

Article 24. Settlement of clearing transactions for card transactions

The settlement of financial obligations arising from the clearing of card transactions between card issuers and card acquirers must be conducted at an organization authorized by the State Bank.

Article 25. Card payment refusal

1. Card issuers, card acquirers, and intermediary payment service providers cooperating with card acquirers and card-accepting units must refuse card payments in the following cases:

 a) Using the card for fake payment transactions at card-accepting units and card transactions prohibited under the regulations in the Decree on non-cash payment;

 b) The card has been reported lost by the cardholder;

 c) The card has expired;

 d) The card is blocked.

2. Card issuers, card acquirers, and intermediary payment service providers cooperating with card acquirers and card-accepting units may refuse card payments if there are suspicions regarding the honesty or purpose of the cardholder's transaction according to law regulations on anti-money laundering.

3. Card issuers, card acquirers, and intermediary payment service providers cooperating with card acquirers and card-accepting units may refuse card payments according to agreements in the following cases:

 a) The balance of the payment account, card balance, remaining credit limit, or overdraft limit (if any) is insufficient to cover the payment;

 b) The cardholder violates the regulations of the card issuers in the agreements between the cardholder and the card issuers, resulting in the card being refused for payment.

4. Card issuers shall notify card acquirers in writing or via data messages about cases of card payment refusal as specified in Clauses 1, 2, and 3 of this Article. When card acquirers receive such notifications from card issuers in Vietnam, foreign card issuers, or international card organizations in writing or via data messages regarding card payment refusals as specified in Clauses 1, 2, and 3 of this Article, the card acquirer shall notify the intermediary payment service providers cooperating with card acquirers and the card-accepting units.

5. Notifications about card payment refusals (including notifications from foreign card issuers and card acquirers) take effect from the time the party involved in the card payment transaction receives the notification in writing or via data message. If, after receiving the notification, the party still processes the card payment and let instances of card misuse occur, the responsibility for determining liability shall be based on the agreements between the parties.

Chapter V

REPORTING AND INFORMATION PROVISION

Article 26. Reporting

1. Card issuers, card acquirers, card switching organizations, and electronic clearing organizations for card transactions must submit periodic reports according to the statistical reporting regime and the regulations of the State Bank.

2. Card issuers must send the internal regulations on credit extension and management of credit extension in the form of credit card issuance to the State Bank (Department of Monetary Policy, Banking Supervision Agency) within 10 days from the date of issuance, amendment, or supplementation.

3. Card issuers, card acquirers and intermediary payment service providers shall report to the State Bank in the following cases:

 a) As specifically requested by the State Bank to serve state management purposes;

 b) When there are unusual developments in card operations that may affect the operation of card issuers or card acquirers.

Article 27. Information provision

1. Card issuers, card acquirers, card-accepting units, intermediary payment service providers cooperating with card acquirers, card switching organizations, electronic clearing organizations for card transactions, and international card organizations shall maintain the confidentiality of card information, cardholder information, and card transaction information. They shall only provide information upon the request of the cardholder, authorized state agencies, or in accordance with law regulations.

2. Card issuers, card acquirers and intermediary payment service providers shall agree on the sharing of information related to card operations in accordance with law regulations.

3. International card organizations must provide information related to card transactions with BIN issued by international card organizations as requested by the State Bank to fulfill its function of state management.

4. Card issuers must provide card information as requested by the State Bank to fulfill its function of state management.

5. By the 10^th of each month, card issuers must provide, upon the request of the State Bank, information about cards and cardholders exhibiting signs of fraud, deceit, or legal violations as prescribed in Appendix No. 02 issued with this Circular. The provision of information shall be carried out electronically following the technical connection guidelines of the State Bank.

Chapter VI

ORGANIZATION OF IMPLEMENTATION

Article 28. Effect

1. This Circular shall take effect from July 1, 2024, except for the provisions specified in Clauses 2 and 3 of this Article.

2. Articles 9, 10, 12 (except for the provision in Point g, Clause 1), and Clause 1 of Article 17 (except for the provision in Point q) of this Circular shall take effect from October 1, 2024.

3. Clause 3 of Article 13, Clause 6 of Article 16, Point q of Clause 1 of Article 17, and Clause 5 of Article 19 of this Circular shall take effect from January 1, 2025. For card issuers that are credit institutions under special control, the provisions in Clause 6 of Article 16, Point q of Clause 1 of Article 17, and Clause 5 of Article 19 of this Circular shall take effect from July 1, 2025.

4. The Governor of the State Bank of Vietnam’s Circular No. 19/2016/TT-NHNN of June 30, 2016 prescribing bank card operations, which was amended and supplemented under: Circular No. 30/2016/TT-NHNN of October 14, 2016, amending and supplementing several circulars on the provision of payment services and intermediary payment services; Circular No. 26/2017/TT-NHNN of December 29, 2017, amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN of June 30, 2016, prescribing bank card operations; Circular No. 41/2018/TT-NHNN of December 28, 2018, amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN of June 30, 2016, prescribing bank card operations; Circular No. 28/2019/TT-NHNN of December 25, 2019, amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN of June 30, 2016, prescribing bank card operations; Circular No. 22/2020/TT-NHNN dated December 31, 2020, amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN of June 30, 2016, prescribing bank card operations; Circular No. 17/2021/TT-NHNN of November 16, 2021, amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN dated June 30, 2016, prescribing bank card operations, shall cease to be effective from the effective date of this Circular, except for the provisions in Article 10, Article 10a, Article 13 (except for Point g, Clause 1 of Article 13), and Clause 1 of Article 18, which shall remain effective until September 30, 2024, provisions of Point g, Clause 1 of Article 13 shall cease to be effective from July 1, 2024.

Article 29. Transitional provisions

1. Physical card templates printed before July 1, 2024, shall continue to be used by card issuers until December 31, 2024.

2. For clients with cards issued before October 1, 2024, card issuers shall coordinate with the clients to update and supplement the clients' documents, information, and data to ensure compliance with the provisions in Clause 2, Article 9, and Article 12 of this Circular, completing this process by January 1, 2026.

Article 30. Organization of implementation

1. The Payment Department shall monitor, inspect, and coordinate with relevant units to address any issues arising during the implementation of this Circular.

2. The Banking Supervision Agency and the State Bank branches in provinces and cities shall inspect and supervise the implementation of this Circular and handle violations within their authority.

3. The Chief of the Office, the Director General of the Payment Department, heads of the units under the State Bank, credit institutions, foreign bank branches, intermediary payment service providers, and other relevant organizations and individuals shall implement this Circular./.