The e-wallet market goes vibrant, with more companies licensed by SBV

09-Oct-2019 Intellasia | Tri Thuc Tre | 6:02 AM Print This Post

The State Bank of Vietnam (SBV) said that on October 1, 2019, there was Document No. 93/ GP-NHNN on the licensing of intermediary payment services for Mobile Entertainment Joint Stock Company (ME CORP).

Accordingly, licensed intermediary payment services are: electronic payment gateway service, collection assistance, payment assistance and e-wallet service.

The content of the License clearly states: Mobile Entertainment Corporation can only provide intermediary payment services specified in this License. When providing licensed payment intermediation services, the company must comply with the scope, object, function and nature of the service licensed under the provisions of law.

Mobile Entertainment Corporation must connect with an organisation specialised in financial switching services and electronic clearing services (licensed by SBV) when providing payment support services to customers who have accounts at many banks. When there is a need and meet all conditions and standards of the technical standards set by the organisation, which has been granted the license for providing financial switching and electronic clearing services by SBV, Mobile Entertainment Corporation is allowed to connect with this organisation in accordance with the law. Along with that, Mobile Entertainment Joint Stock Company is responsible for adding copies of documents of cooperation between Mobile Entertainment Joint Stock Company and this organisation to the SBV for management and monitoring.

This license is valid for 10 years and takes effect from the date of signing.

 


Category: Finance, Vietnam

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