On September 16, 2019, the State Bank of Vietnam (SBV) issued Document No. 89/GP-NHNN on the issuance of the License for the provision of payment intermediary services to VINID PAY Joint Stock Company (the second re-issuance).
Under this License, the authorized payment intermediary service is: Electronic wallet service.
The content of the License clearly states: VINID PAY Joint Stock Company may only provide the intermediary payment service specified in this License. When providing the licensed intermediary payment service, VINID PAY Joint Stock Company must comply with the scope, subjects and nature of the service licensed in accordance with the law.
VINID PAY Joint Stock Company must connect with an organization providing financial switching services and electronic clearing services (licensed by the SBV) when providing the payment support service to their customers who have accounts at more than one banks. When there is a need and it can meet all conditions and standards of the technical standards set by the above organization, which has been granted the License for providing financial switching services and electronic clearing services by the State Bank of Vietnam, VINID PAY Joint Stock Company may be connected with this organization in accordance with the law. Along with that, VINID PAY Joint Stock Company is responsible for adding copies of dossiers (documents) of cooperation between VINID PAY Joint Stock Company and this organization to the SBV for the purpose of management, monitoring and supervision.
In the process of providing the licensed payment intermediation service, VINID PAY Joint Stock Company must comply with the provisions in the Government’s Decree No. 101/2012/ND-CP dated November 22, 2012 on non-cash payments and the relevant amendments and supplementations; Circular No. 39/2014/TT-NHNN dated December 11, 2014 of the SBV providing guidance on payment intermediary services and the relevant amendments and supplementations; Circular No. 47/2014/TT-NHNN dated December 31, 2014 of the SBV stipulating the technical requirements on safety and security of equipment for bank card payments; Circular No. 18/2018/TT-NHNN dated August 21, 2018 of the SBV providing for the safety of information technology systems in banking operations; Circular No. 35/2016/TT-NHNN dated December 29, 2016 of the SBV stipulating the safety and confidentiality for providing Internet banking services and the relevant amendments and supplementations; and other relevant laws.
This license is valid from the date of signing through August 3, 2027. License No. 47 / GP-NHNN dated August 3, 2017 of the Governor of the SBV on granting the License for providing intermediary payment services to the People Care Joint Stock Company shall expire on the effective date of License. No. 89 / GP-NHNN mentioned above.
VINID PAY Joint Stock Company’s enterprise code is 0107537799, and its head office is located at No. 7 Bang Lang 1 Road, Vinhomes Riverside Ecological Area, Viet Hung Ward, Long Bien District, Hanoi City.
VA