Cashless payment requires biometric data updating from January 1, 2025

This is part of Circular 17/2024/TT-NThis is part of Circular 17/2024/TT-NHNN of the State Bank of Viet Nam, dated June 28, 2024 regulating the opening and use of payment accounts at payment service providers (Circular 17), replacing the altered and supplemented Circular 23/2014/TT-NHNN.

The Circular includes additional regulations on ensuring security and confidentiality in the opening and use of payment accounts, which stipulates the responsibility of banks and foreign bank branches to establish risk management and control procedures throughout the payment accounts opening and usage process.

Under Circular 17, customers can only make withdrawals and payment transactions via electronic means after their ID cards, biometric features are compared and confirmed matching with the biometric data stored in their chip-based ID cards, the data stored at the National Population Database Center, or the collected and verified biometric data.

Biometric data is a unique identifier of an individual, such as a face. This information has been verified and stored by the Ministry of Public Security in chip-based Citizen ID card.

Customers can update biometric data from chip-based Citizen ID cards through their bank mobile digital banking application and at bank branches.

For foreign customers, they are asked to bring a valid passport to bank branches after for support in supplementing biometric information.

Vietnamese citizens, adding "ID card", "electronic identification (by accessing their level-2 electronic identification account)"; For people of Vietnamese descent with unidentified nationality, adding "Certificate of Identity"; For foreigners, adding "or another document that can be used as a replacement to the visa", "electronic identification (if any)", in order to ensure consistency with the 2023 Law on Identification, the 2022 Law on Anti-money Laundering, Decree No. 69/2024/ND-CP./.HNN of the State Bank of Viet Nam, dated June 28, 2024 regulating the opening and use of payment accounts at payment service providers (Circular 17), replacing the altered and supplemented Circular 23/2014/TT-NHNN.

The Circular includes additional regulations on ensuring security and confidentiality in the opening and use of payment accounts, which stipulates the responsibility of banks and foreign bank branches to establish risk management and control procedures throughout the payment accounts opening and usage process.

Under Circular 17, customers can only make withdrawals and payment transactions via electronic means after their ID cards, biometric features are compared and confirmed matching with the biometric data stored in their chip-based ID cards, the data stored at the National Population Database Center, or the collected and verified biometric data.

Biometric data is a unique identifier of an individual, such as a face. This information has been verified and stored by the Ministry of Public Security in your chip-based Citizen ID card.

Customers can update biometric data from chip-based Citizen ID cards through their bank mobile digital banking application and at bank branches.

For foreign customers, they are asked to bring a valid passport to bank branches after for support in supplementing biometric information.

Vietnamese citizens, adding "ID card", "electronic identification (by accessing their level-2 electronic identification account)"; For people of Vietnamese descent with unidentified nationality, adding "Certificate of Identity"; For foreigners, adding "or another document that can be used as a replacement to the visa", "electronic identification (if any)", in order to ensure consistency with the 2023 Law on Identification, the 2022 Law on Anti-money Laundering, Decree No. 69/2024/ND-CP.

Earlier, since July 1, biometric information of facial recognition have been required to finalise transactions of VND10 million (US$393) or more.

Biometric security, which will be matched to data stored in the national ID database, is already required to transfer more than VND20 million a day, regardless of the amount of each transfer. Users who transfer money for the first time via mobile banking and e-payment platforms must also log in using biometric information.

In addition, people who switch online payment applications or with recurring payments over VND100 million must also be authenticated using biometric information.