Press release on issuance of Circular No. 15/2024/TT-NHNN
On June 28, 2024, the Governor of the State Bank of Vietnam (SBV) issued Circular No. 15/2024/TT-NHNN regulating the provision of non-cash payment services.
This Circular is composed of 04 Chapters with 23 Articles, specifically as follows:
Chapter 1: General provisions, comprising of 6 Articles (from Article 1 to Article 6), stipulating the scope of regulation; the subjects of application; the interpretation of some terms; the payment documents; the payment services by electronic means; the corrective and adjustment procedures for errors, the review and handling of complaints in payment transactions and intermediary payment services.
Chapter 2: Payment services via payment service providers, comprising of 9 Articles (from Article 7 to Article 15), regulating the single payment transactions via payment accounts opened at the SBV; authorized payment and authorized collection services; money transfer services, etc.
Chapter 3: Rights and responsibilities of the parties, comprising of 6 Articles (from Article 16 to Article 21) regulating the rights and responsibilities of the payment service providers and the service users; the rights and responsibilities of the payment service providers when cooperating with payment intermediary service providers, international institutions, payment acceptance units; the rights and responsibilities of payment acceptance units.
Chapter 4: Enforcement, comprising of 2 Articles (Article 22 and Article 23) regulating the implementation arrangements, and the enforcement
This new Circular takes effect form July 1, 2024.
HY