From January 1, 2025, all online transactions will be suspended for bank accounts, e-wallets and securities that have not been biometrically authenticated (face authentication). This is an important step to enhance the safety and security of users against potential risks in electronic transactions.
Banks require customers to authenticate their biometrics to make all online transactions. For example, transferring money via mobile banking apps, paying from e-wallets, linking a bank account to an e-wallet, or making touch payments via services like Apple Pay and Samsung Pay all require facial authentication.
For credit cards, customers who have not authenticated their biometrics will have their online card payments, QR code withdrawals at ATMs and other electronic transactions interrupted. However, physical card transactions at ATMs and POS machines are still accepted.
Major e-wallets such as MoMo, Payoo, Zalopay... have implemented many measures to support customers with biometric authentication. MoMo has pioneered cooperation with the Ministry of Public Security, allowing users to authenticate directly via the VNeID application without needing a chip-embedded citizen ID card or a phone with NFC. Zalopay also said that users can perform authentication themselves quickly and conveniently on their own application.
Similarly, Mobile Money accounts of three network operators Viettel, VNPT VinaPhone and MobiFone also apply biometric authentication regulations. If not implemented, customers will not be able to pay telecommunications bills, buy mobile data, or make other payment transactions.
This regulation also applies to securities accounts. Since October 1, 2024, many securities companies have notified customers that they need to complete authentication to continue trading online. However, there are still many accounts that have not done so, especially those that are not used regularly but still have stock balances. Starting in 2025, these accounts will have their online services suspended until customers complete the authentication process.
In addition to biometric authentication, customers need to ensure that their identification documents, national identity cards or citizen identification cards are not expired. Otherwise, their bank accounts, payment cards and e-wallets will be suspended, including transactions at the counter, online and ATM.
The implementation of biometric authentication and related regulations is expected to create a safer financial transaction environment and ensure transparency in e-commerce activities. However, users need to proactively implement and raise awareness to protect their rights in the current digital context.
