STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIETNAM |
No. 41/2018/TT-NHNN | Hanoi, December 28, 2018 |
CIRCULAR
AMENDING AND SUPPLEMENTING CIRCULAR NO. 19/2016/TT-NHNN DATED JUNE 30, 2016 OF THE GOVERNOR OF THE STATE BANK OF VIETNAM ON BANK CARD OPERATIONS
Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;
Pursuant to the Government's Decree No. 16/2017/ND-CP dated February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Upon the request of the Director of the Department of Payment;
The Governor of the State Bank of Vietnam hereby promulgates the Circular on amendments and supplements to the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations.
Article 1. Amendments and supplements to Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations
1. Inserting clause 26 into Article 3 as follows:
“26. Base standards for domestic chip cards means the Set of Base Standards, including TCCS 01:2018/NHNNVN on Technical Requirements of domestic payment cards using the contact chip technology in Vietnam and TCCS 02:2018/NHNNVN on Technical Requirements of domestic payment cards using the non-contact chip technology in Vietnam, which are released under the Decision No. 1927/QD-NHNN dated October 5, 2018 of the Governor of the State Bank of Vietnam."
2. Inserting clause 5 into Article 9 as follows:
“5. Card issuers must comply with the Base Standards for domestic chip cards when issuing cards with BIN issued by the State Bank according to the transformation schedule prescribed in Article 27b in this Circular.”
3. Inserting clause 1a into Article 22 as follows:
“1a. Acquirers must comply with the Base Standards for domestic chip cards applied to their ATMs and other card processing equipment at their points of sale according to the transformation schedule prescribed in Article 27a in this Circular.”
4. Inserting clause 6 into Article 24 as follows:
“6. Bodies switching and clearing electronic card transactions shall be responsible for upgrading their electronic switching and clearing systems in order to ensure connections to card issuers and acquirers during the transformation period as provided in Chapter IVa in this Circular."
5. Adding Chapter IVa to Chapter IV as follows:
“Chapter IVa
TRANSFORMATION SCHEDULE
Article 27a. Transformation schedule designed for card acquirers
1. By December 31, 2019, at least 35% and 50% of active ATMs and card processing devices, respectively, at points of sales endorsed by acquirers in Vietnam must comply with the Base Standards for domestic chip cards.
2. By December 31, 2020, 100% of active ATMs and card processing devices at points of sales endorsed by acquirers in Vietnam must comply with the Base Standards for domestic chip cards.
Article 27b. Transformation schedule designed for card issuers
1. By December 31, 2019, at least 30% of active cards of card issuers with BIN issued by the State Bank must comply with the Base Standards for domestic chip cards.
2. By December 31, 2020, at least 60% of active cards of card issuers with BIN issued by the State Bank must comply with the Base Standards for domestic chip cards.
3. By December 31, 2021, 100% of active cards of card issuers with BIN issued by the State Bank must comply with the Base Standards for domestic chip cards.
Article 27c. Responsibilities of card issuers and acquirers
During the transformation period, card issuers and acquirers must ensure continuous, stable, safe card operations and must protect legitimate rights and interests of card holders.”
6. Clause 2 of Article 32 (which has already been amended and supplemented by the Circular No. 26/2017/TT-NHNN dated December 29, 2017 of the Governor of the State Bank of Vietnam on amendments and supplements to the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam prescribing bank card operations) shall be amended and supplemented as follows:
“2. Clause 2 of Article 24 in this Circular shall enter into force on January 1, 2020.”
Article 2. Implementation responsibilities
The Office’s Chief, the Director of the Department of Payment, the Heads of the State Bank’s affiliates, the Directors of the State Bank Branches in centrally-affiliated cities and provinces, the Chairs of Management Boards, the Chairs of Members Boards, and the General Directors (Directors) of credit institutions and foreign bank branches, card switching companies and electronic card transaction clearing companies shall be responsible for enforcing this Circular.
Article 3. Entry into force
1. This Circular shall enter into force on February 18, 2019.
2. Clause 6 of Article 1 in this Circular shall commence on January 1, 2019./.
| PP. GOVERNOR |
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