SBV Urges POS Network to Be Connected Nationwide
The State Bank of Vietnam (SBV) has recently issued the Official Document 4896/NHNN-TT requiring card issuers and card payment institutions to coordinate in interconnecting the nationwide POS network.
Accordingly, the central bank required card issuers and card payment institutions to complete POS interconnection before December 31, 2011, work with card switching companies and their branches to update software for POS machines and carry out technical test-run (trial will be deployed in major cities of Hanoi, Ho Chi Minh City and Da Nang). Both software and hardware updating is required to accept cards issued by other issuers.
The SBV also recommended card issuers and card payment institutions to adopt measures to spur the development of POS services.
Vietnamese
