“Comments draft decree amending and supplementing the Decree 101/2012 / ND-CP on non-cash payments”

On 09/10/2015, in Tam Dao (Vinh Phuc), Bankers Association cooperates with the bank cards organized seminar “Feedback draft decree amending and supplementing Decree No. 101/2012 / ND CP of non-cash payment. ”
Attending the seminar were Ms. Tran Thi Hong Hanh – General Secretary of the Banking Association; Mr. Dao Minh Tuan – Chairman of the bank card; Mr. Bui Quang Tien – Billing Department, State Bank; representatives from the Government Inspectorate, Ministry of Finance, Ministry of Justice, Ministry of Information and Communications, the Ministry of Industry and Trade, C50 Ministry of Public Security; representing 52 member organizations and some experts in the field of payment; etc.
The goal of the roundtable was to assess the status of implementation of Decree 101/2012 / ND-CP, the impact of the decree on the development of non-cash payment in Vietnam; determine the limits of this decree before the rapid change of information technology and modern banking services, especially the emergence of some new means of payment such as electronic money, virtual money, but no legislation to regulate. The goal of building a decree amending and supplementing the Decree 101/2012 / ND-CP are: (i) additional, clarifying the means of non-cash payments; (Ii) additional provisions on new means of payment such as electronic wallet concept, account to guarantee payment for the supply of electronic wallets for providers of electronic wallet; (Iii) provisions fuller object is authorized to issue electronic wallet and conditions of release; (Iv) additional one thing about the release, the provision and use of payment means other than Vietnam legally recognized and protected.
Addressing the comments on the draft decree amending and supplementing the Decree 101/2012 / ND-CP on non-cash payments, Mr. Bui Quang Tien said that the Decree 101/2012 / ND-CP is basic legal document for the development activities of non-cash payments, especially the method of payment services and applications of new technologies with high technological content such as internet banking, mobile banking. Over the two years of implementation of Decree 101/2012 / ND-CP, settlement activities in the economy has had many positive changes, bringing many benefits to consumers and the providers of goods as well as commercial banks. Along with the development of information technology, operations non-cash payments in the world and in Vietnam there are many changes, some of the terminology appears as virtual currency, electronic money issued through the Internet, need to have the legislation amended.

Agreeing with the contents of the Draft (2nd suggestions), the majority of comments stressed the role of non-cash payments in the economy, particularly in terms of strong development of information technology and telecommunications. Along with other forms of non-cash payments such traditional checks, payment orders, authorizations, collections, authorized to collect, bank cards, there appeared new means of payment such as electronic wallets. Thus, the draft should clarify the concept of payment means, the concept of payment means cashless service to distinguish non-cash payments. However, to clarify the “electronic wallet” as a means of non-cash payments, should supplement and clarify the concept of “electronic wallet”, provides for supplying “electronic wallet “of banks, foreign bank branches. Some comments also highlighted point is not considered buying card payment facilities so it is only valid within a certain range, not the general price level material in exchanges of goods and services; and not by the issuing bank. Thus, the Decree does not consider adjusting regulations on card purchases.

At the seminar, representatives of the Department of Payment spent time presentation some issues related to the model contract, in the spirit of implementation of Decision 35/2015 / QD-TTg dated 20/08/2015 of repair amend Decision No 02/2012 / QD-TTg dated 13/01/2012 promulgating the list of goods and services essential to the contract registration form, general trading conditions.
The seminar participants also agreed the directive do better propagation, promotion, payment instructions via POS, mPOS for card users and card-accepting units; Company National Switching (Banknetvn) in close coordination with commercial banks raising infrastructure quality service POS switching; fixed, fast processing of traffic incidents, switches, limit congestion, minimize switching transactions failed; better coordinated handling the verification of payment transactions POS.
According to the Organizing Committee, the roundtable has obtained unexpected results, contributing many issues relating to development of safety and sustainability of non-cash payments in general and bank card services in particular. Through the roundtable, a draft decree amending and supplementing this time has resolved the difficulties of Decree 101/2012 / ND-CP, create favorable conditions for the management of payment operations in reality.