Chương 3 Nghị định 101/2012/NĐ-CP: Dịch vụ thanh toán và dịch vụ trung gian thanh toán

Chapter 3.

PAYMENT SERVICES AND PAYMENT INTERMEDIARY SERVICES

Article 14. Payment services

1. Payment services via the clients’ payment accounts, including:

a) Provision of payment facilities;

b) Provisions of payment services via cheques, payment order, collection order, bank cards, letter of credit, bank transfer, payment authorization;

c) Other payment services.

2. Payment services via the clients’ payment accounts:

a) The State bank shall provide the payment services for the clients that open payment accounts at the State bank;

a) Commercial bank, branches of foreign banks, banks for social policies shall provide all payment services prescribed in Clause 1 this Article;

c) Cooperative banks may provide some payment services prescribed in Clause 1 this Article after obtaining the approval from the State bank.

3. Payment services via clients’ payment accounts, including: money transfer services, payment authorization, and other payment services.

4. Payment services without clients’ payment accounts:

a) The banks prescribed in Clause 2 this Article may provide payment services without payment accounts for their clients;

b) The people's credit funds may provide money transfer services, and provided services of authorized payment and authorized collection for their members;

c) The microfinance institutions may provide services of authorized collection, authorized payment, and money transfer to microfinance clients

d) Other organizations that provide payment services without payment accounts must comply with the regulations of the State bank.

Article 15. The payment intermediary services and conditions thereof

1. Payment intermediary services include:

a) Provision of electronic payment facilities;

b) Payment service support;

c) Other payment intermediary services as prescribed by the State bank.

2. Requirements for providing payment intermediary services

The organizations not being banks that wish to provide payment intermediary services must satisfy the following requirements:

a) Having a License for establishment or Certificate of business registration issued by competent State agencies, in which the provision of payment intermediary services is one of their primary businesses;

b) Having an approved plan for payment intermediary service provisions in accordance with the regulations on investment authority prescribed in their charter;

c) Having at least 50 billion VND of charter capital;

d) Requirements of human resources:

The legal representative, the General Director (Director) of the applying organization must have proficiency or experience in business administration or their discipline.

The employees that run the payment intermediary services must be proficient in their job;

dd) The technical and professional conditions include: facilities and technical infrastructure that suit the requirements for providing payment intermediary services and the regulations of the State bank; the back-up technical system independent from the primary system that ensures the safe and continuous service provision when the primary system has problems; the technical and professional process in the provision of payment intermediary services that ensures the safety, security, and suite the laws on electronic transaction; the process of internal inspection of payment intermediary services in electronic transactions as prescribed by current law.

Article 16. The procedure and documents for issuing, revoking, and reissuing the Licenses to provide payment intermediary services

1. The procedure for issuing the License

a) The applicant shall send the dossier of application for the License (including 05 sets), by post or directly, to the State bank as prescribed in Clause 2 this Article. The applicant is responsible before law for the accuracy of the information provided;

b) Based on the dossier of application, the State bank shall examine the dossier according to the conditions in Clause 2 Article 15 of this Decree;

c) Within 60 days as from receiving the complete and valid dossier, the State bank shall appraise and issue the License, or the written refusal to issue the license and specify the reasons;

d) The organization that is issued with the License to provide payment intermediary services must pay fees as prescribed by law.

2. 2. The dossier of application for the Licenses to provide payment intermediary services includes:

a) The written application for the License according to the form provided by the State bank;

b) The Record or the Resolution of the Member assembly meeting, the Board of Directors meeting (or shareholder meeting as prescribed in the Charter of the organization) that pass the scheme for the provision of payment intermediary services;

c) The scheme for the provision of payment intermediary services;

d) The description of technical solution and the written acceptance of technical experiment with another organization;

dd) The documents about personnel: the résumés, the authenticated copies of the qualifications proving the capability and proficiency of the legal representative, General Director (Director), Deputy General Director (Deputy Director) and the senior officers that execute the Scheme for the provision of payment intermediary services;

e) The License for establishment or Certificate of business registration issued by competent State agencies, the Charter of organization and operation (authenticated copy);

3. License period

The period of the License is 10 years as from the day the organization is issued with the License by the State bank.

4. Revoking the License

a) The organization shall have its License revoked, and have to terminate the provision of payment intermediary services in one of the following cases:

The organization fails to commence the provision of licensed payment intermediary services without legitimate reasons within 06 months as from the date of issue of the License; the organization fails to rectify the violations within 03 months as from the State bank notifies the organization of one of the violations of the requirements prescribed in Clause 2 Article 15 of this Decree, and requests it to rectify; the organization is dissolved or bankrupt as prescribed by relevant laws.

b) The procedure for revoking the License

When the licensed organization commits one of the violations prescribed in Point a Clause 4 this Article, the State bank shall send written notification to the licensed organization of the revocation of the License, and provide the explanation. The State bank shall announce the License revocation of such organization on the State bank’s website.

When receiving the written notification from the State bank of the revocation of the License to provide payment intermediary services, the organization that has its License revoked must immediately stop providing payment intermediary services.

Within 30 days as from receiving the notification from the State bank, the organization that has its license revoked must send written notification to relevant organizations and individuals to liquidate the contracts and settle the obligations among them.

5. Reissuing the License

Within 30 days as from receiving the application for reissuing the License, the State bank shall consider and issue the License, or the written refusal to issue the license enclosed with the explanation in one of the following cases:

a) The License expires

At least 60 days before the License expires, the organization must apply for reissuing the License and a copy of the unexpired License to the State bank.

b) The License is revoked

After 6 months as from the reasons for revoking the License are completely rectified, the organization that had its Licensed expired may send an explanation and application for reissuing the License to the State bank.

c) Amending and supplementing the License

If the organization wishes to change the content of the License, its must make and send a written request, specifying the amendment and the reason for it, enclosed with a copy of the unexpired License, to the State bank.

d) In case the License in lost or damaged, the organization must send a written application for reissuing the License and, and the explanation, to the State bank.

Article 17. Service charges

1. The providers of payment services and the providers of payment intermediary services must fix and post their service charges.

2. If the banking activities are unpredictable, the State bank shall provide a mechanism for determining the charges for payment services and charges for payment intermediary services.

Article 18. Compensation

The providers of payment services and providers of payment intermediary services must pay compensation for damage if they violate the agreements among the relevant parties, or violate laws.

Article 19. Dispute settlement

If there is no agreement on the dispute settlement in the contract, the dispute shall be settled as prescribed by law.

Article 20. Ensuring the safe payment

 Providers of payment services and providers of payment intermediary services must take measures for ensuring the safe payment as prescribed by law. Service users must implement the safety measures when making payment guided by the service providers.