The State Bank has just issued Circular 41/2025 (amending and supplementing Circular 40/2024) regulating the provision of intermediary payment services. The Circular mainly aims to tighten the management of e-wallet activities, clarify transaction limits and regulations on safety and customer identification.
According to regulations, opening e-wallets for individuals and organizations has been tightened in the direction that before opening an e-wallet, individuals and organizations must have their biometric information verified.
Specifically, for individuals, e-wallet owners using ID cards or electronic ID cards or citizen ID cards (with information storage) or electronic identities, e-wallet service providers must meet e-wallet owners in person and verify identity documents and verify the correct biometric information of e-wallet owners. In case e-wallet owners are foreign individuals not present in Vietnam, e-wallet service providers are allowed to verify customer identification information through a third party or by hiring another organization.
For organizations established and operating in Vietnam, the organization providing e-wallet services must meet directly with the legal representative of the e-wallet owner and verify the information of the legal representative of the e-wallet owner similar to that of individuals.
Circular 41/2025 takes effect from November 5, 2025. Particularly, the regulation on opening e-wallets requiring biometric verification as mentioned above takes effect from January 1, 2026.
Source: https://quangngaitv.vn/tu-1-1-2026-muon-mo-vi-dien-tu-phai-xac-minh-thong-tin-sinh-trac-hoc-6509975.html
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