On August 13, 2020, the Governor of the State Bank of Vietnam (SBV) issued Document No. 60/GP-NHNN granting the license for providing intermediary payment services to 9PAY Joint Stock Company.
Accordingly, 9PAY Joint Stock Company (Enterprise Code: 0108425897, head office located at No.34 Nguyen Khanh Toan street, Quan Hoa ward, Cau Giay district, Hanoi) is licensed to providing intermediary payment services, specifically as follows: Online payment gateway services; Cash collection and payment services; E-wallet services.
The License indicates clearly that: 9PAY Joint Stock Company may only provide the services specified in this License. When providing these intermediary payment services, 9PAY Joint Stock Company must comply with the scope, subjects and nature of the services licensed in compliance with the law.
9PAY Joint Stock Company has to arrange to be connected to an organization providing financial switching and electronic clearing services (licensed by the SBV) when providing the payment services to customers with accounts in more than one banks. Depending on the need and after having met the requirements and standards as determined by the set of technical standards established by the organization providing financial switching and electronic clearing services (licensed by the SBV), 9PAY Joint Stock Company may start the connection to this organization in accordance with the law. Moreover, 9PAY Joint Stock Company is also responsible for submitting a copy of the connection arrangement/agreement between 9PAY Joint Stock Company and this organization to the SBV for the purpose of monitoring and supervision.
In the process of providing the licensed intermediary payment services, 9PAY Joint Stock Company has to comply with the provisions of Decree No. 101/2012/ND-CP dated November 22nd, 2012 of the Government on non-cash payments and the relevant amendments and/or supplementations (if any); Circular No. 39/2014/TT-NHNN dated December 11th, 2014 of the SBV providing guidance on the intermediary payment services and the relevant amendments and supplementations; Circular No. 47/2014/TT-NHNN dated December 31st, 2014 of the SBV defining the technical requirements for security and safety of the equipment used for bank card payments; Circular No. 18/2018/TT-NHNN dated August 21st, 2018 of the SBV providing for the safety and security of the information systems in banking operations; Circular No. 35/2016/TT-NHNN dated December 29th, 2016 of the SBV on the safety and security over the provision of banking services on the Internet, and the relevant amendments and supplementations (if any); as well as other relevant legal provisions.
This License is valid for 10 years and took effect on the date of signing.
Le Hang