On May 15, 2024, the State Bank of Vietnam (SBV) issued Decision No.887/QD-NHNN revoking the license for providing intermediary payment services by the Electricity and Telecommunications Payment Solutions Joint Stock Company (ECPAY JSC), head office address at: the 6th Floor, Anna Building, Quang Trung Software Park, Tan Chanh Hiep ward, District 12, HCMC.
Accordingly, the SBV has decided to revoke License No. 31/GP-NHNN dated December 17, 2015 issued by the SBV Governor permitting ECPAY JSC to provide intermediary payment services.
The reason of the license revocation is: after 3 months from the date of the SBV’s document announcing the violation of ECPAY JSC regarding one of the required conditions as stipulated in Paragraph 2 of Article 15 of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payment (as amended and supplemented).
Within 30 days from the receipt of this Decision, ECPAY JSC shall notify in writing all relevant organizations and individuals and shall liquidate all contracts and complete all obligations and responsibilities among the parties.
This Decision took effect from the date of signing.
Le Hang