According to information from Vietcombank , from July 1st to 15th, more than 4 million transactions were authenticated using biometrics (Facepay) as per regulations, including transactions such as: money transfers exceeding 10 million VND/transaction; money transfers exceeding 20 million VND/day; bill payments for goods and services exceeding 100 million VND/day; initial activation or change of phone number for VCB Digibank...

Transactions authenticated using Facepay account for approximately 4% of the total financial transactions processed on VCB Digibank.

Regarding the number of customers who have completed biometric registration as required, Vietcombank stated that over 3 million customers have successfully registered, mainly updating their information online via the application. The number of customers updating their information at the counter (bank transaction points) accounts for nearly 4% of the total number of registered customers.

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Illustrative image. VCB.

According to Ms. Doan Hong Nhung, Director of Retail Banking at Vietcombank, with over 3 million customers successfully registering for biometrics, Vietcombank is among the top banks in terms of the number of customers registering for biometrics, according to statistics from the State Bank of Vietnam.

Vietcombank began collecting customer biometric data from June 18th.

Previously, Vietcombank and the Research and Application Center for Population Data and Citizen Identification (RAR) signed an agreement on "Electronic Authentication Service". This is the first bank to apply the Electronic Authentication Service of the Ministry of Public Security to collect, clean up information, and perform biometric authentication for customers on digital banking channels.

According to Decision No. 2345 of 2023 by the State Bank of Vietnam, from July 1, 2024, online transactions of individual customers are required to be authenticated using biometric identification, including: money transfers of 10 million VND or more per transaction, or total daily transaction value exceeding 20 million VND; international money transfers; bill payments exceeding 100 million VND per day, etc.

Banks advise customers to only update biometric information through the bank's official app or directly at bank branches, and absolutely not through any other website or app to avoid the risk of impersonation and fraud.