TAILIEUCHUNG - Circular No.19/2016/TT-NHNN

Circular date June 30, 2016 of the State Bank of VietNam on bank card operation. | Circular No. 19 2016 TT-NHNN dated June 30 2016 of the State Bank of Vietnam on bank card operation Pursuant to the Law on the State bank of Vietnam No. 46 2010 QH12 dated June 16 2010 Pursuant to the Law on credit institutions No. 47 2010 QH12 dated June 16 2010 Pursuant to Decree No. 101 2012 ND-CP dated November 22 2012 of the Government on non-cash payment Pursuant to the Government s Decree No. 156 2013 ND-CP dated November 11 2013 defining the functions tasks entitlements and organizational structure of the State bank of Vietnam At the request of the Director of the Payment Department The Governor of the State bank of Vietnam promulgates a Circular on bank card operations. Chapter I GENERAL PROVISIONS Article 1. Scope of adjustment This Circular deals with operations of bank cards hereinafter referred to as cards including issuance usage payment switching clearing and statement of card transactions. Article 2. Subject of application 1. Issuers 2. Acquirers 3. Switching companies 4. Clearing companies 5. Merchants 6. Cardholders 7. Other organizations and individuals related to bank card operations Article 3. Interpretation of terms For the purposes of this Circular these terms below shall be construed as follows 1. Bank card means an instrument issued by a card-issuer for conducting card transactions under the conditions and terms agreed upon by the involved parties. Cards regulated in this Circular do not cover types of cards issued by good suppliers or service providers for the purpose of use in the payment for goods and services for the card issuers themselves. 2. Debit card means a card that authorizes its holder to conduct card transactions within the amount of money available and overdraft limit if any on the payment deposit account of the cardholder opened at a card issuer. 3. Credit card means a card that authorizes its holder to conduct card transactions within the credit limit granted under the agreement with the card issuer. 4. Prepaid card means a

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