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Further legal developments from the State Bank of Vietnam on e-wallets
Apr 19 2019

On 19 April 2019, the State Bank of Vietnam circulated a draft circular to amend and supplement a number of articles of Circular No. 39/2014/TT-NHNN on intermediary payment services (Draft Circular). 

Among all, the regulation on electronic or digital wallet (e-wallet) has been clearly clarified under this Draft Circular. Notably, there are four points that the users and providers of e-wallet service need to consider:

  1. E-wallet and e-wallet data cannot be purchased, sold, leased, or transferred; a person/organization is prohibited from opening e-wallet on behalf of other individuals/organizations.
  2. A person can only use e-wallet transact maximum VND 20 million per day.
  3. E-wallet service providers are prohibited from opening more than one (01) e-wallet for customers using its service.
  4. E-wallet service providers are not allowed to grant credit, pay interests over a balance in e-wallets, or conduct any action leading to the increase in the value of money in e-wallets of customers.

Currently, the State Bank of Vietnam is receiving public comments for the Draft Circular. We will keep updating.

Media contact(s):

Hoang Le Hang

Business Development Manager 
Tel: +84 (0) 912 024 054