The Government issued Decree. No. 52/2024/ND-CP (“Decree 52”) on non-cash payment. Decree 52 will be effective from 01 July 2024 and replace Decree No. 101/2012/ND-CP (“Decree 101”) and its guiding documents.
In comparison with Decree 101, Decree 52 provides more detailed regulations. For example, under Decree 52, “Non-cash payment services” still include “payment services via customers’ payment accounts” and “payment services without customers’ payment accounts”. However, Decree 52 clarifies what “payment services via customers’ payment accounts” and “payment services without customers’ payment accounts” are.
Decree 52 adds 18 new defintions, including “digital currency”, “electronic wallet services”, “electronic payment gateway services'”, and “collection and disbursement services'”.
The regulations on Payments in foreign currencies and international payments; Responsibilities of the State-Own Bank and Prohibed acts under Decree 52 are also more detailed compared to the previous Decree.
Another new point of Decree 52 is that this Decree stipulates the “conditions for commercial banks and foreign bank branches to participate in the international payment system”.
Decree 52 also introduces 16 relevant sample documents for application.
