On March 12th, 2018, the Governor of the State Bank of Vietnam (SBV) issued License No. 41/GP-NHNN granting the provision of intermediary payment services for Vietnam Mobile-Based Services Company Limited (Vimass Co., Ltd).
Under this License, authorized intermediary payment services include: Online payment gateway services; Support services for collection and payment; E-wallet services.
The content of the License clearly states that: Vimass Co., Ltd may only provide the services specified in this License. When providing intermediary payment services, Vimass Co., Ltd must comply with the scope, subjects and nature of services licensed under the law and stated in Vimass application file for a license to the SBV.
Vimass must be connected to an organization providing financial switching services and electronic clearing services (permitted by SBV) when providing intermediary payment services to customers with accounts in many banks. When having and meeting the requirements and standards of the set of technical standards promulgated by organization, which has been licensed by SBV for providing financial transfer services and electronic clearing services, Vimass shall be connected to this organization in accordance with the law. Moreover, Vimass is responsible for adding a copy of cooperation documents (dossiers) between Vimass and this organization to the SBV for monitoring and supervision.
In the process of providing licensed intermediary payment services, Vimass must comply with the provisions of Decree No.101/2012/ND-CP dated November 22nd, 2012 of the Government on non-cash payment; Decree No.80/2016/ND-CP dated July 1st, 2016 of the Government amending and supplementing a number of articles of Decree No.101/2012/ND-CP; Circular No.39/2014/TT-NHNN dated December 11th, 2014 of the SBV providing guidance on the intermediary payment services and related amendments and supplements; Circular No.47/2014/TT-NHNN dated December 31st, 2014 of the SBV defining the technical requirements for confidentiality and safety of equipment serving bank card payment; Circular No.31/2015/TT-NHNN dated December 28th, 2015 of the SBV providing for assurance of information systems safety and security in banking operations; Circular No.35/2016 dated December 29th, 2016 of the SBV on safety and confidentiality over provision of banking services on the Internet; and other relevant legal provisions.
This license is valid for 10 years and is effective from the date of signing.
Vimass Co., Ltd business code is 0105906169 and its head office is located at 12A Floor, 444 Hoang Hoa Tham Street, Thuy Khue Ward, Tay Ho District, Hanoi.
VA