Bank card to be issued using digital method in Vietnam from January 1, 2022

According to Circular 17/2021/TT-NHNN, from January 1, 2022, card issuers can issue Debit card, credit card, prepaid card with identification for cardholder being individual by digital Vietnam

Bank card to be issued using digital method in Vietnam from January 1, 2022

Specifically, in Clause 4, Article 1 of Circular 17/2021, Clause 10 has been added to Article 10 of Circular 19/2016/TT-NHNN as follows:

The card issuer can issue debit, credit, and prepaid cards for individual cardholders by digital method in Vietnam.

According to the Circular, the card issuer shall develop, issue, and make public the procedures for issuance of individual cards using electronic method in accordance with this Article, law on anti-money laundering, law on electronic transactions, relevant regulations of law concerning prudential measures and confidentiality of information of customers and safe operations of the card issuer, at least containing the following:

- Collect necessary information and documents before entering into an agreement on card issuance and usage with the customer to identify the customer and transaction limit of the debit card, personalized prepaid card, credit card as prescribed;

- Inspect, collate, and verify the customer identification information;

- Warn the customer about prohibited acts during the opening and usage of the card issued electronically;

- Provide the customer with an agreement on card issuance and usage with the particulars specified in Article 13 of Circular 19/2016 and enter into the agreement on card issuance and usage with the customer in accordance with law on electronic transactions;

- Notify name of the card issuer, name and trademark of card, card number, validity period (or commencement date of validity) of card, name of cardholder, scope and functions of the card, prohibited acts in law on card usage for customers.

The card issuer has discretion over measures, methods, technology to identify and verify the customer for issuance of cards using electronic method; take liability for any risks (if any) and meet the the minimum requirements as prescribed

The card issuer shall, based on the applicable technology when identifying and verifying the customer, assess risks and then decide the transaction limit of the customer’s card opened electronically, provided that the total transaction limit (including cash withdrawal, wire transfer, payment) of the customer's debit or personalized prepaid card or credit card does not exceed 100 (one hundred) million Vietnam Dong in a month and that customer may neither withdraw cash in foreign currency in foreign countries nor make international payments.


-  The electronic card issuance does not apply to the following entities:

+ Individuals from 15 years old to under 18 years old

+ Cardholders being organizations

+ Supplementary cardholder

- Card issuers only issue cards electronically to foreigners who are allowed to reside in Vietnam with a term of 12 months or more for debit cards.

Bao Ngoc


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