Vietnam changes IDs allowed for bank transaction identity verification

Vietnamese citizens will soon be unable to use passports as valid identification for domestic banking transactions.

Starting January 1, 2026, Vietnamese banking customers will have to rely on a chip-based ID card, a standard ID card, or a Level 2 electronic ID for biometric identity verification. Domestic banking transactions to which these new regulations apply include payments, cash withdrawals and card services.

The new rules have been issued by the State Bank of Vietnam with the central bank seeking to standardize data across the banking system, while looking to prevent fraud and forgery, reports Vietnam Plus. In August, the central bank reported that it completed biometric validation of 120.9 million individual customers records and over 1.2 million organizational accounts.

Customers must authenticate their personal information and biometric data in order to successfully carry out banking transactions from 2026. Authorities have urged citizens to update their records early to avoid disruptions, especially those who frequently use digital banking services.

In addition, the State Bank of Vietnam recently announced new regulations mandating the use of biometric verification for digital wallet registration for 2026. From next year, digital wallet service providers “must meet customers in person to verify their identity documents and verify biometric data before activating e-wallets.”

A recent report from VinCSS suggests Vietnam’s bank could foster trust in biometrics by adopting passkeys, and biometrics providers in the country have been racing to confirm their compliance with the international biometric presentation attack detection (PAD) standard, in particular through testing by iBeta.

Elsewhere in ecommerce, sellers and affiliate marketers using livestream platforms in Vietnam will have to verify their identity through the national digital ID system, according to a draft law on ecommerce. Domestic sellers would be obligated to identify themselves through the VNeID digital ID, while foreign sellers would need to submit legal documents.

Vietnam set ambitious targets in the realm of digitalization as it wants all citizens served on digital platforms by 2026. The country is targeting 100 percent digital ID and government service access by next year, which means quite a rapid pace from here on out. According to government data, 80 percent of public services are now fully digitized.

With all this, biometric vendors are sensing opportunity. HID Global is sharpening its focus on Vietnam’s fast-growing market, with the company believing the country holds strategic importance in HID’s regional expansion. It points to rising demand for secure, privacy-first identity solutions across sectors.

Article Topics

banking  |  biometrics  |  digital ID  |  financial services  |  identity document  |  identity verification  |  Vietnam