Decree 52/2024/ND-CP has revised the definitions and regulations related to e-wallets and prepaid cards to meet practical demands and facilitate electronic transactions while enhancing the efficiency of state management in this sector.

According to Article 6 of Decree 52/2024/ND-CP, the regulations on e-wallets and prepaid cards are as follows:

E-wallets and prepaid cards are means of storing electronic money.

Banks and foreign bank branches are authorized to issue and provide e-wallets and prepaid cards. The issuance, provision, and usage of e-wallets and prepaid cards must comply with the regulations set by the State Bank of Vietnam.

Payment intermediary service providers offering e-wallet services must ensure that the total balance across all payment guarantee accounts for e-wallet services at banks or foreign bank branches is not less than the total balance of all e-wallets issued to customers; services are only allowed for e-wallets linked to the customer’s own payment accounts or debit cards.

Additionally, Clause 16 of Article 3 of Decree 52/2024/ND-CP defines that: E-wallet service is a service provided by banks, foreign bank branches, and payment intermediary service providers, enabling customers to load funds into e-wallets, withdraw funds from e-wallets, and perform payment transactions.

This law takes effect from July 1, 2024.

This bulletin is for informational purposes only regarding newly enacted legal regulations and is not intended for advising or applying to specific cases.

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