The new Circular, comprising 16 articles, introduces significant amendments and additions to regulations concerning card issuance and usage.
For cards issued to organizational customers, the revised Circular mandates written authorization from the organization for designated individuals to use the card. These authorized individuals are referred to as secondary cardholders.
Notably, the Circular also permits card acceptance devices to be installed at branches, transaction offices, or payment agent locations of card payment organizations to dispense cash to cardholders.
New regulations on bank card issuance
Regarding card issuance procedures, the Circular now requires card issuers to conduct in-person meetings and verify biometric data for individual customers and legal representatives of organizational customers. Exceptions for organizational customers are specified. Additionally, issuers must verify the phone numbers of cardholders (individuals) and legal representatives (organizations) when registering for online banking services.
For credit card transaction limits, the maximum cash withdrawal limit per month for credit cardholders, based on the card’s BIN, is set at 100 million Vietnamese Dong.
Concerning foreign cardholders, the Circular removes the requirement for individual foreign customers to have resided in Vietnam for at least 12 months (360 days) before card issuance. Instead, the card’s validity period must not exceed the remaining permitted residency period in Vietnam.
The Circular also updates regulations on credit card usage scope and outlines scenarios where transactions can be executed without biometric verification for individual cardholders and legal representatives of organizational customers.
The Circular will take effect on January 5, 2026.
Biometric Verification Mandatory for Digital Wallets Starting January 1, 2026
Under the new regulations, e-wallet service providers are required to conduct in-person meetings with e-wallet owners and perform thorough identity verification checks. This process includes cross-referencing official identification documents and confirming the biometric data of the e-wallet owner to ensure accuracy and security.
Fostering UK Business Collaboration in Fintech, Biometric Identity Verification, and Infrastructure Design
On the afternoon of October 31st (local time), in London, UK, Deputy Prime Minister Nguyễn Chí Dũng and the Government’s working delegation met and engaged with three leading European and global corporations: Revolut, iProov, and Cundall.
Over 132.4 Million Individual Accounts Biometrically Verified
As of October 10, 2025, over 132.4 million individual customer profiles (CIFs) and more than 1.4 million organizational customer profiles have been biometrically verified through chip-embedded national ID cards or the VNeID application.
Proposed New Regulations to Tighten Control Over Banking Apps
The State Bank of Vietnam is currently seeking public input on a draft Circular amending and supplementing certain provisions of Circular 50/2024/TT-NHNN, which governs safety and security standards for online services in the banking sector. This latest draft focuses on expanding the scope of regulation, incorporating international technical requirements, and enhancing protections for both individual and corporate customers in electronic transactions.
“28 Banks and 4 Payment Intermediaries Linked with VNeID for Social Security Payments”
As of August 15, 2025, the banking sector had successfully acquired and cross-referenced over 123.9 million individual customer records with biometric data. An impressive 32 units have linked up with VNeID to facilitate social security payments, a testament to the industry’s commitment to efficient and secure transactions.
