Starting from July 1st, biometric information such as fingerprints and facial recognition will be required to finalise transactions of VNĐ10 million (US$391) or more, according to Decision No 2345 by the State Bank of Viet Nam (SBV).

Biometric security, which will be matched to data stored in the national ID database, is already required to transfer more than VNĐ20 million a day, regardless of the amount of each transfer. Users who transfer money for the first time via mobile banking and e-payment platforms must also log in using biometric information.

Commercial banks have been sending their customers notifications and reminders to update their biometric registration in anticipation of the new rules. In addition, people who switch online payment applications or with recurring payments over VNĐ100 million must also be authenticated using biometric information.

As for foreigners, they were required to go to bank branches for mandatory biometric authentication, many banks said, citing the directive from the State Bank of Vietnam.

Foreign customers, who have no chip-based ID card, must bring their passport with them to bank branches, and bank staff will guide them to register biometric information directly at the counter. The customers’ biometric information will be stored in the banks’ database to use for next transactions.

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