Vietnam: Card providers and card payment institutions required to connect POS network nationwide

by **ADMIN** Thu Jun 30, 2011 7:44 am

(29/06/2011)

The State Bank of Vietnam (SBV) issued Document No.4896/NHNN-TT to require card providers and card payment institutions to coordinate in carrying out the connection of the POS network all over the country.

Accordingly, in order to achieve a successful and effective POS connection all over the country, SBV requires card providers and card payment institutions to coordinate in conducting several tasks as follows:

- Directing their branches to implement the SBV guidelines in order to complete the connection of the POS network before December 31, 2011;

- Coordinating with the card switching companies and supporting their branches to make plans on updating the software for POSs and conduct technical testing (based on the experience of the 3 big cities of Hanoi, Ho Chi Minh and Da Nang) to ensure the successful POS inter-network connection in each location. In addition, they should facilitate their branches to procure new equipments or upgrade the existing POS system to be able to make payments for cards of others;

- Assigning staff to assist their branches to well conduct their tasks; and direct their branches to implement several programs and methods to encourage card utilization via POSs by promotions, discounts, fee-free policy, etc.

Link to Article at SBV