Household businesses must also use biometric authentication.

(NLĐO) – Many banks have announced that business households are required to update their biometric data to continue using their payment accounts from July 1st onwards.

VietinBank has just announced that it requires business owners to complete the updating of their biometric information before July 1st to avoid disruptions to online banking services. This regulation aims to comply with Circular 17/2024/TT-NHNN of the State Bank of Vietnam on opening and using payment accounts at payment service providers.

Accordingly, not only corporate customers but also household businesses using VietinBank iPay digital banking services need to update their biometric data before the deadline of July 1st. Cases requiring updating include: never having registered for biometrics; having registered but the household head's identification documents have expired; or customers who wish to update their biometric photo.

BIDV also announced that from July 1st, business households that have not updated the biometric information of their legal representative or authorized representative will have their transactions temporarily suspended, including: cash withdrawals, electronic payments on payment accounts, and online card payment transactions.

Household businesses that are customers of banks can update their biometric data online via the digital banking application using their chip-embedded citizen ID card, VNeID, or directly at transaction points nationwide.

Businesses must also use biometric authentication to avoid disruptions to online transactions from July 1st.

According to Mr. Pham Anh Tuan, Director of the Payment Department of the State Bank of Vietnam, biometric authentication is a solution to help clean up bank account data and limit online fraud. Currently, more than 113.5 million accounts have been authenticated out of a total of over 200 million accounts opened nationwide. Accounts that do not provide biometrics may be "dead," "dormant," or even accounts used for fraudulent activities.

However, the State Bank of Vietnam also noted that biometric authentication is not the only measure and cannot guarantee 100% protection against fraud for all customers. Therefore, credit institutions and payment intermediaries need to continue investing in security technology to enhance user safety.

Source: https://nld.com.vn/ho-kinh-doanh-cung-phai-xac-thuc-sinh-trac-hoc-196250616162623854.htm