On 25 December 2019, the State Bank of Vietnam ("SBV") issued Circular No. 28/2019/TT-NHNN ("Circular No. 28") amending and supplementing a number of articles of Circular No. 19/2016/TT-NHNN dated 30 June 2016 of the SBV on bank card operation ("Circular No. 19"), as amended by Circular No. 30/2016/TT-NHNN, Circular No. 26/2017/TT-NHNN and Circular No. 41/2018/TT-NHNN.

Circular No. 28 will come into effect from 01 April 2020, upon which, notably, non-legal entities are allowed to be debit cardholders. Another notable change is from 01 January 2021, domestic card present transactions must be routed via a gate way operated by a switching organization licensed by the SBV.

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