The Governor of the State Bank of Vietnam (SBV) granted License No.76/GP-NHNN on December 7, 2016 to permit M-Pay Trade and Technology services Joint Stock Company (M-Pay) to provide intermediary payment services. The License comes into force from the date of signing and will be effective for 10 years.
Accordingly, these services include electronic payment portal, collection and payment, electronic money transfer and e-wallet intermediary payment services.
M-Pay Company is allowed to provide the above-licensed services. In the process of implementing intermediary payment services, M-Pay is required to comply with the scope, functions, processes and other articles as written in the registration of M-Pay at the SBV.
When M-pay meets the requirements stipulated in the technical standard check-list - which serves the connection to the financial-switching system and e-clearing issued by the organization providing payment intermediary services, financial switching, and electronic clearing - M-pay will be allowed to connect to this organization in line with the law. M-pay is also responsible for sending a copy of the document of cooperation and connection to the SBV for supervising purposes.
M-Pay is required to comply with Decree No. 101/2012/NĐ-CP dated November 22, 2012 on non-cash payments, Decree No.80/2016/ND-CP dated July 1, 2016 on revising a number of contents in Decree No.101/2012/ND-CP, Circular No.39/2014/TT-NHNN dated December 11, 2014 issued by the SBV on guiding intermediary payment services; Circular No. 31/2015/TT-NHNN dated December 28th, 2015 on the assurance of information systems safety and security in banking operations, and relevant regulations.
Thoa Le