Can units which accept card payment in Vietnam charge customers a surcharge when using card payment?

Can units which accept card payment in Vietnam charge customers a surcharge when using card payment?

Pursuant to Article 8 of the Circular 19/2016/TT-NHNN (amended and supplemented by Clause 2 Article 1 of the Circular 28/2019/TT-NHNN and Clause 2 Article 1 of the Circular 26/2017/TT-NHNN) stipulating prohibited acts as follows:

1. Making, using, assigning and circulating fake cards.

2. Directly conducting or facilitating other persons in conducting fraud card transactions or fictitious transactions at merchants (no occurrence of any sale of goods and provision of services).

3. Merchants collect additional fees or practice price discrimination against cardholders making card-based payment.

4. Stealing or collaborating with other entities to steal card information; disclosing and providing information about cards, cardholders and card transactions not in accordance with regulations of law.

5. Illegally accessing or attempting to illegally access or destroy the program or database in the system of issuance, payment, switching, and clearing of cards.

6. Using cards to conduct transactions for the purposes of money laundering, terrorism financing, fraud and other violations of law.

7. A merchant transfers point-of-sale terminals or QR Codes to other users; accepts card payment without entering into card payment agreements; illegally uses point-of-sale terminals or QR Codes of acquirers in Vietnam or foreign acquirers.

As regulations above, units which accept card payment in Vietnam shall not charge customers a surcharge when using card payment.

Can units which accept card payment in Vietnam charge customers a surcharge when using card payment? - Source: Internet

What are the requirements for credit issuance through credit cards?

Pursuant to Clause 1 Article 15 of the Circular 19/2016/TT-NHNN (amended and supplemented by Clause 7 Article 1 of the Circular 17/2021/TT-NHNN and Clause 6 Article 1 of the Circular 26/2017/TT-NHNN) stipulating credit card-based credit facility agreement as follows:

1. Credit card-based credit facility agreement must satisfy the following requirements:

a) Be bound by the agreement on card issuance and usage and other agreements on credit facility between the card issuer and the cardholder (if any);

b) The card issuer must issue internal regulations on credit card-based credit facility in accordance with regulations of law on prudential measures in credit facilities, including entities, credit limit, requirements, time limits for credit extension, repayment period restructuring, minimum sum of repayment, applied interest, how interest is charged on the loan, order of recovery of loan principal and interest, overdue debt fee, loan purpose, process of assessment and decision on card-based credit extension in conformity with the rules of specific responsibility of process of assessment and decision on credit extension, debt recovery measures to ensure responsibility of departments in the card issuer during the debt recovery process;

c) The card issuer shall consider and decide the card-based credit extension if the following requirements are satisfied:

(i) The cardholder is an eligible entity as prescribed in Clause 1 or Clause 2 Article 16 herein and is not an entity ineligible for credit extension prescribed in Article 126 of the Law on Credit Institutions (as amended);

(ii) The cardholder must use the loan amount for proper purposes and its/his/her financial capacity for repaying debt on schedule;

d) The card issuer shall consider requesting the cardholder to provide types of security for its/his/her liability as prescribed.

dd) Credit limits of credit cards held by individuals prescribed in Clause 1 Article 126 of the Law on Credit Institutions (as amended) are as follows:

(i) For secured credit cards: Credit limit granted to a cardholder shall be subject to determination by the card issuer in conformity with its internal regulations on grant of card-based credit facilities and shall not exceed VND 01 billion;

(ii) For unsecured credit cards: Credit limit granted to a cardholder shall not exceed VND 500 million.

Above are requirements for credit issuance through credit cards in Vietnam.

Best regards!