Business households must also have biometric authentication.

(NLDO) – Many banks have announced that business households are required to update their biometrics to continue using their payment accounts after July 1.

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

Accordingly, not only corporate customers but also business households using VietinBank iPay digital banking services need to update biometrics before the deadline of July 1. Cases that need to update include: never registered biometrics; registered but the household head's identity papers have expired; or customers need to update a new biometric photo.

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

Business households that are customers of banks can update biometrics online via digital banking applications using chip-embedded CCCD, VNeID, or directly at transaction points nationwide.

Businesses must also undergo biometric authentication to avoid disruption of online transactions from July 1.

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

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

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