On December 18, 2023, the Governor of the State Bank issued Decision 2345/QD-NHNN implementing safe and secure solutions in online payments and bank card payments. Accordingly, from July 1, 2024, money transfers, deposits, and withdrawals from e-wallets over 10 million must be biometrically authenticated.
=> See more: Cases of revoking digital certificates in the tax industry (latest)
Specifically, according to Decision 2345/QD-NHNN, for individual customers, the minimum transaction authentication measures for type C transactions are prescribed as follows:
- By the customer's biometric identification mark:
(i) matches the biometric data stored in the chip of the customer's citizen identification card issued by the Police;
(ii) or through authentication of the customer's electronic identity account created by the electronic identification and authentication system.
- Or by the customer's biometric identification mark matching the biometric data stored in the customer's biometric database that has been collected and checked, and is encouraged to be combined with other methods. OTP authentication method sent via SMS/Voice or Soft OTP/Token OTP.
Photo 1: Money transfers, deposits, and withdrawals from e-wallets over 10 million VND must be biometrically authenticated from July 1, 2024 _Hotline: 0972118764
Also according to Decision 2345/QD-NHNN, transferring money between e-wallets, depositing and withdrawing money from e-wallets is classified as group I.3 transactions with type C transactions satisfying one of the following cases:
1. Case 1: Transaction meets the following conditions:
(i) G ≤ 10 million VND.
(ii) G + Tksth > 20 million VND.
(iii) G + T ≤ 1.5 billion VND.
2. Case 2: Transaction meets the following conditions:
(i) G > 10 million VND.
(ii) G ≤ 500 million VND.
(iii) G + T ≤ 1.5 billion VND.
(where G is the value of the transaction)
Thus, based on the provisions of Decision 2345/QD-NHNN to deploy safe and secure solutions in online payments and bank card payments, from July 1, 2024, when transferring money, depositing, and withdrawing money E-wallet amount over 10 million, biometric authentication is required.
Decision 2345/QD-NHNN takes effect from July 1, 2024.
=> See more: Time limit for developing the State's investment credit capital plan
Photo 2. Free legal advice _ Hotline: 097 211 8764
Socio-Economic Summary Department - TLK Law Company Limited
Dear readers, TLK Law Company Limited, in addition to providing readers with useful intellectual information about economic, cultural and social life, we are also an organization providing legal services; Professional accounting - tax and trade promotion with many years of experience.
With the desire to fulfill social responsibility, if readers need advice on issues related to the Law, please contact us at hotline: 097 211 8764 to get advice from a lawyer. Direct consultation (completely free consultation)
