<div>According to Decision 20/2007/QD-NHNN on card payment surging, merchants are required to accept cards for payment of goods or services without raising prices or applying surges that would not otherwise be applied to cash payments.</div> <div> </div> <div><span>"In the process of modernizing the banking industry in Vietnam, many banks have been investing heavily to expand the card payment network and to develop card products with more modern benefits for their customers. This Decision is an important legal base for banks to control their merchants in strictly carrying out the regulations and international common practices and facilitating the strong growth of non-cash payment transactions in Vietnam," said Madam Nguyen Thu Ha, Chairwoman of the Vietnam Bank Card Association "As such, we are working very closely with the State Bank of Vietnam to ensure that this policy is enforced around the nation."</span></div> <div> </div> <div>In addition to agreeing on close cooperation, the banks have also established an anti-surge committee. The committee monitors the ution of the State Banks Decision at stores, hotels, restaurants and other merchants, assists cardholders with any payment issues, as well as penalizes any merchants who continue with the practice.</div> <div> </div> <div>"In line with Vietnams global integration, and as we as a country move toward international standards, the practice of card payment surging becomes completely inappropriate," said Madam Nguyen Thu Ha. "The number of card users in Vietnam is increasing steadily, as customers come to appreciate the convenience and safety of payment with cards, and ultimately, cardholders deserve to enjoy this convenience without any financial impediments."</div> <div> </div> <div><strong>Banking Times</strong></div>
Vietnamese
