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The SBV issued Circular No.46/2014/TT-NHNN on December 31, 2014 on non-cash payment services to replace Decision No 226/2002/QĐ-NHNN dated March 26, 2002 on Payment operations via payment provider institutions and Decision No 1092/2002/QĐ-NHNN dated October 08, 2002 on Payment procedures via payment provider institutions.
The Circular has been issued for the aim of guiding on the implementation of non cash payment services stipulated in Item 14 of Decree 101/2012/NĐ-CP dated November 22, 2012 of the Government on non cash payment and meeting the requirements of practical situation.
- The Circular includes 4 chapters, 19 articles to stipulate specific regulations on several payment services via payment account of the customer and payment services not via payment account of the customer, including: Single payment; payment of Credit transfer, direct debit, remittance; and cash in – cash out payment.
- The Circular also stipulates the accounting process for each type of payment service in accordance with applicable regulations on documentation processing and accounting; and specific rights and responsibilities of non - cash payment service providers and users.
Additionally, in order to ensure security and safety for payment service providers and customers, the Circular added a regulation on service providers’ responsibility of risk announcing and warning.
The Circular takes effect from March 01, 2015.
THE STATE BANK OF VIETNAM
Translated by VMH (huongvusbv@gmail.com)