Regulations on the List of Open API for open application programming in the banking sector in Vietnam

Regulations on the List of Open API for open application programming in the banking sector in Vietnam (Image from the Internet)

Regulations on the List of Open API for open application programming in the banking sector in Vietnam

According to Article 6 of Circular 64/2024/TT-NHNN, the basic Open API catalog is organized into the following groups:

- Open API for querying exchange rates and interest rate information of Banks includes: API to Retrieve Interest Rate Information, API to Retrieve Exchange Rate Information;

- Open API for querying customer information includes: API for Customer Confirmation and Consent, API to Retrieve Access Token, API to Refresh Access Token, API to Revoke Access Token, API to Retrieve Account List, API to Retrieve Account Information, API to Retrieve Transaction History;

- Open API to initiate payments, deposit into e-wallets, withdraw from e-wallets includes:

(i) Open API for initiating payments includes: API to Initiate Payment, API for Customer Confirmation through Redirect Flow, API to Retrieve Access Code through Redirect Flow, API to Update Customer Payment Confirmation Status in Decoupled Flow, API for Payment Confirmation, API to Retrieve Transaction Status, API to Retrieve Customer Payment Confirmation Status in Decoupled Flow;

(ii) Open API for Depositing into E-wallet includes: API for E-wallet Deposit, API to Confirm OTP, API to Update Customer E-wallet Deposit Confirmation Status in Decoupled Flow, API to Retrieve Customer E-wallet Deposit Confirmation Status in Decoupled Flow, API for E-wallet Deposit Confirmation, API to Retrieve Transaction Status;

(iii) Open API to Withdraw from E-wallet.

The detailed specifications of the aforementioned Open API catalog are specifically regulated in Appendix 01 issued with Circular 64/2024/TT-NHNN.

Implementation of Open Application Programming Interfaces in the banking sector in Vietnam from March 1, 2025

As per Clauses 1, 2, and 3 of Circular 64/2024/TT-NHNN, regulations on open application programming interfaces in the Banking sector (Open API) are as follows:

- Application Programming Interface (API) is an interface that allows communication between software applications within an organization or between organizations.

- Open Application Programming Interfaces in the Banking Sector (Open API) is a set of APIs provided by Banks for third parties to connect directly, process data, and provide services to customers. Open API includes: Basic Open API and Other Open API.

- Open API Test System is the information system provided by the Bank to third parties to test Open APIs before official deployment.

Article 4 of Circular 64/2024/TT-NHNN states the general principles for implementing open application programming interfaces in the Banking sector as follows:

Banks, customers, and third parties (hereinafter referred to as the parties) when deploying Open API must comply with the following requirements:

- Comply with legal regulations on confidentiality, providing customer information, and personal data protection. The processing of customers' personal data should only serve the customer themselves, except where otherwise regulated by law.

- Data during processing must be managed, stored, exploited, and used for the correct purpose as agreed in the contract between the parties and in accordance with the law.

- Data during processing must ensure it is up-to-date and accurate. In case of discrepancies, they must be promptly corrected and adjusted according to the agreement between the parties.

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