- National Financial Switch
Make Payments Easier with NFS
The National Financial Switch (NFS) is a vital financial infrastructure that facilitates real-time aggregation of domestic ATM, POS, and electronic money transactions. It connects local commercial banks, financial institutions, payment system providers, and mobile network operators (MNOs). This integration ensures seamless financial transaction processing across the nation.
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About Zambia ELECTRONIC CLEARING HOUSE
Who are we?
The Zambia Electronic Clearing House Limited (ZECHL), is a non-profit making entity registered under the Companies Act No 10 of 2017. It is a private company limited by Shares. It was formed in 1999 and the current Shareholders are the Bank of Zambia and 18 Commercial Banks.
ZECHL’s mission is to provide an Efficient, Reliable and value driven payment system to the Zambian Market. . The ZECHL operates the National Financial Switch (NFS) and the Cheque Truncation System (CTS), which are common/shared payment gateways that facilitate efficient and secure payment processing and interconnectivity between multi-payment institutions within the country. Supported streams on the platform include ATM, POS, EFT, CIC and Mobile transactions all taking place across participant networks. All participant interfaces and messages on the NFS are based on the ISO 8583:1993 standard.
Extended to this service is the role of performing daily industry net settlement reporting for each stream or participant and provide an approved clearing cycle.
We prioritize secure and reliable transactions, ensuring your data and payments are always protected.
Enjoy the convenience of fast, seamless, and instant transactions whenever you need them.
Secure, Reliable, and Convenient Payment Solutions
We deliver trusted and efficient electronic payment solutions to empower businesses and individuals across Zambia.
Streamline your financial transactions with our secure and innovative payment solutions, designed to make every step seamless and reliable.
Enable your business to thrive with scalable and efficient payment systems tailored for the ever-evolving financial landscape.
Fostering stronger connections by offering fast, dependable, and convenient payment networks that bridge gaps across Zambia.
What We Offer
Smart Solution for Your Payment
Revolutionize your payment experience with modern, efficient, and scalable solutions tailored to meet your needs.
National Financial Switch
Management of the National Financial Switch (NFS) – a key financial sector infrastructure aggregating domestic Automated Teller Machines (ATMs), Point-of-Sale (POS) machines and Electronic Money transactions from local commercial banks and financial institutions in real time. The financial institutions include payment system providers and mobile network operators (MNOs)
Electronic Funds Transfer
Facilitation of movement of funds from one account of a participant to another with improved efficiency and security in a batched system. ZECHL processes debit and credit funds transfers collectively referred to as Direct Debit and Credit Clearing (DDACC).
Cheque Truncation System
Cheque Clearing operability. A critical process used for clearing cheques using images as opposed to using physical cheques known as Cheque Image Clearing (CIC). The CTS has shortened and standardized the clearing period across the country to one clearing day and thus facilitate early access to funds by customers. Further it has reduced the scope for clearing related frauds, minimized the cost of clearing cheques, reduced reconciliation problems and eliminated logistics problems.
Net Settlement Reporting
Net Settlement Positions and report generation for its clients. This process is done after payment instructions for DDACC CIC, ATM, POS and E-Money are netted. The ZECHL is also responsible for notifying the Bank of Zambia of the Net Settlement Positions of participating commercial banks and financial institutions at designated settlement times.
Why Choose Us
Why Choose ZECHL? Security, Simplicity, and Support.
At ZECHL, we combine cutting-edge technology with user-friendly solutions to ensure safe, efficient, and reliable payment experiences tailored for your needs.
Our solutions are simple to integrate, making it easy to connect your business with our secure systems.
Protecting your data and transactions is our top priority, ensuring peace of mind for every payment.
Count on our dedicated support team to assist you whenever you need it.
Seamless Online Payment Solutions
Experience the convenience of digital payments with ZECHL. Our services are built to empower businesses and individuals across Zambia.