pc
nid 92718
May 22, 2026
pthandapani@vixio.com
Vietnam
The State Bank Of Vietnam
financial services
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1550 charsVietnam's State Bank Amends Payment Intermediary Service Regulations
On May 19, 2026, the State Bank of Vietnam (SBV) issued Circular 22/2026/TT-NHNN, which amends and supplements provisions of Circular 40/2024/TT-NHNN governing payment intermediary service activities.
The circular modifies existing regulations on payment intermediary service provision, forming part of a broader regulatory update issued by the SBV on May 19, 2026. This amendment aligns with Vietnam's administrative reform agenda, which focuses on streamlining, decentralising, and simplifying administrative procedures across the financial sector.
The SBV simultaneously issued multiple related circulars on the same date, including amendments to regulations governing non-cash payment services (Circular 21/2026/TT-NHNN), cheque issuance and usage (Circular 20/2026/TT-NHNN), and controlled experimentation mechanisms in banking (Circular 19/2026/TT-NHNN). Additional circulars addressed microfinance institutions (Circular 14/2026/TT-NHNN), credit information procedures (Circular 11/2026/TT-NHNN), cooperative credit institutions (Circular 15/2026/TT-NHNN), and bank card issuance codes (Circular 12/2026/TT-NHNN).
Payment intermediary service providers and financial institutions offering payment services should review the amended provisions to ensure compliance with the updated regulatory framework. The circular represents the SBV's continued effort to modernise payment system regulations and reduce administrative burden on market participants through procedural simplification and decentralisation of implementation responsibilities.
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1473 charsState Bank of Vietnam Amends Payment Intermediary Service Regulations
The State Bank of Vietnam (SBV) has released a press release announcing the issuance of Circular No. 22/2026/TT-NHNN, which amends and supplements Circular No. 40/2024/TT-NHNN regulating the provision of intermediary payment services.
The circular prescribes:
Licensing procedure amendments revising the process for issuing intermediary payment service licenses by allowing the Director of the Payment Department to return applications if the organization fails to resubmit on time or fails to meet requirements, and reducing the internal consultation time required for processing licenses.
Re-issuance of licenses decentralizing authority to the regional SBV branch to receive applications for license re-issuance in cases where the original license is lost, torn, burned, or destroyed, while also reducing the internal consultation time for re-issuing an expired license.
Modification of licenses decentralizing authority to the regional SBV branch to process requests for amending or supplementing a license when an organization changes its head office location, and shortening the internal consultation time for resolving other license modifications.
Regional branch responsibilities adding regulations regarding the responsibilities of regional SBV branches in receiving and resolving administrative procedures for organizations headquartered within their respective territories, as assigned by the SBV Governor.
The circular comes into effect from May 19, 2026.