The State Bank is seeking comments on the draft circular amending and supplementing Circular 15, regulating non-cash payment services. A notable content in this draft is the specific regulation on the maximum time that online banking and e-wallet services can be interrupted.
Specifically, the State Bank requires ensuring that the total interruption time of providing all payment services and online payment intermediary services does not exceed 4 hours per year and a maximum of 30 minutes per time, except in cases of force majeure or system maintenance and upgrades that have been notified 3 days in advance.
If an incident occurs that causes a service interruption lasting more than 30 minutes, the payment service provider and payment intermediary must report to the State Bank within 4 hours. At the same time, within 3 working days from the time the problem is resolved, this unit must send a full report to the State Bank.
Incidents that are not handled properly may become the basis for the management agency to apply monitoring and handling measures according to regulations. This regulation applies to all commercial banks, credit institutions and payment intermediaries such as e-wallets, payment gateways, digital financial platforms, which are playing an important role in the current payment infrastructure.
This regulation was issued in the context of cashless payments becoming increasingly popular but there are still many incidents of transaction suspension, application errors, money transfers not arriving or slow processing.
In fact, many users of electronic payment services have encountered problems such as not being able to access the banking application, not being able to scan the QR code, or transferring money but the recipient does not receive it. These errors are especially common during holidays, the end of the month, when the system is overloaded or needs sudden maintenance. In many cases, users do not receive any notification from the bank, causing anxiety and difficulty in checking.
The tightening of the interruption time and the addition of a mandatory reporting mechanism are expected to enhance operational responsibility, make information transparent and reduce risks for customers. With clear regulations, users will no longer have to suffer from “unexplained money suspension”, and can proactively monitor and request explanations when services are interrupted. This draft also shows a convergence with international practices in the payment sector./.
Source: https://baolamdong.vn/vi-dien-tu-ngan-hang-khong-duoc-de-nghen-qua-30-phut-382587.html
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