On May 13, 2021, the State Bank of Vietnam (SBV) issued Document No. 22/GP-NHNN on the issuance of the License for the provision of payment intermediary services to ZION Company Limited (ZION Co., Ltd.).
Accordingly, the SBV approved the license to provide payment intermediary services for ZION Co., Ltd. with enterprise code No. 0101659783, headquartered at Z06 Street 13, Tan Thuan Dong Ward, District 7, Ho Chi Minh City, Vietnam.
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: ZION Co., Ltd. may only provide the services specified in Article 2 of this License. When providing intermediary payment services, ZION Co., Ltd. must comply with the scope, subjects and nature of services licensed under the law.
ZION Co., Ltd. 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, ZION Co., Ltd. shall be connected to this organization in accordance with the law. Moreover, ZION Co., Ltd. is responsible for adding a copy of cooperation documents (dossiers) between ZION Co., Ltd. and this organization to the SBV for monitoring and supervision.
In the process of providing licensed intermediary payment services, ZION Co., Ltd. must comply with the provisions of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payment; Decree No. 80/2016/ND-CP dated July 1, 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 11, 2014 of the SBV providing guidance on the intermediary payment services and related amendments and supplements; Circular No. 47/2014/TT-NHNN dated December 31, 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 28, 2015 of the SBV providing for assurance of information systems safety and security in banking operations; Circular No. 35/2016 dated December 29, 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 from the date of signing through January 18, 2026 and replacing the License No. 19/GP-NHNN dated January 18, 2016 of the Governor of the SBV on granting the License for providing intermediary payment services to the ZION Co., Ltd.
VA