Biometric verification required for e-wallet registration from 2026

Under the Circular No 41/2025 on intermediary payment services, e-wallet service providers must meet customers in person to verify their identity documents and verify biometric data before activating e-wallets.

 

A customers use her phone to make payment at a supermarket in Hà Nội. Biometric verification will be required for e-wallet registration starting from the beginning of 2026. — VNA/VNS Photo Trần Việt

HÀ NỘI — Biometric verification will be required for e-wallet registration starting from the beginning of 2026, according to new regulations issued by the State Bank of Vietnam.

Under the Circular No 41/2025 on intermediary payment services, e-wallet service providers must meet customers in person to verify their identity documents and verify biometric data before activating e-wallets.

For foreigners who are not physically present in Việt Nam, verification can be conducted through a third party or a contracted organisation.

Corporate clients must also have their legal representatives verified in person or through a third party for those who are not physically present in Việt Nam.

Government agencies, public institutions, listed companies and Fortune Global 500 enterprises of the preceding year will be exempt from biometric checks.

The new circular, which took effect on November 5, also prohibits several practices by e-wallet providers.

Specifically, e-wallet service providers are not allowed to accept cash deposits or allow cash withdrawals at their locations. All transactions must go through linked bank accounts.

The provision of credit for e-wallet users and paying interest on wallet balances are also banned.

As of March 31, 2025, 47 institutions had been licensed to provide e-wallet services in Việt Nam. Out of 46.01 million activated e-wallets, around 30.27 million, or 65.8 per cent were active, with a combined balance of more than VNĐ2.8 trillion (US$110 million).

Major players included MoMo, Viettel Money, ZaloPay, ShopeePay and VNPAY.  — VNS

 

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