Electronic Fund Transfers
Movement of funds from one account to another.
Cheque Clearing
Facilitation of the cheque clearing process to minimize on costs and fraud
24/7 Dedicated Support
Dedicated support ensuring Continuous Availability and Quick response times
National Financial Switch
The National Financial Switch (NFS) is a crucial component of the financial infrastructure in Zambia, facilitating seamless electronic transactions across various banks and financial institutions.
The switch went live on 23 September 2018 switching ATM transactions and eventually was upgraded to switch POS and E-money transactions by the year 2019.
The National Switch will also open up to integrate to regional payment systems within SADC, COMESA and beyond to support cross boarder systems. Currently the National Switch is processing all domestic card transactions on POS and ATM within Zambia with mobile switching scheduled to go live in quarter one of 2020
The Zambia Electronic Clearing House Limited (ZECHL), a company registered under the Company’s Act of 1994 uses information and technology to further its achievement of organizational goals in an ethical, responsible, and professional manner in accordance with provisions of Zambian local legislation including the Electronic Communications and Transactions Act of 2021, Cybersecurity and Cyber Crimes Act of 2021, Data Protection Act of 2021, Banking and Financial Services Act of 2017 and National Payments Act of 2007.
The Zambia Electronic Clearing House Limited being of processor of payment card information of major international payment card brands including VISA, MasterCard, JCB and UnionPay upholds and is compliant with the Payment Card Industry Data Security Standard (PCI DSS). The PCI Standard is mandated by the card brands and administered by the Payment Card Industry Security Standards Council. The standard was created to increase controls around cardholder data to reduce credit card fraud. Validation of compliance is performed annually or quarterly, either by an external Qualified Security Assessor(QSA) or by a firm specific Internal Security Assessor (ISA) that creates a Report on Compliance for organizations handling large volumes of transactions, or by Self-Assessment Questionnaire (SAQ) for companies handling smaller volumes.
The Zambia Electronic Clearing House Limited employs proven industry best practices to manage risks that threaten the confidentiality, integrity, and availability of information resources. The organization is guided by policy aligned to major standards and frameworks including COBIT, ISO 27001 and NIST Cybersecurity; ZECHL has further invested in control measures spanning over people, processes, and technologies to ensure a holistic and comprehensive approach to the protection of information resources. The Zambia Electronic Clearing House Limited partners and collaborates with industry players both local and international to ensure the continued development of the organization’s capability to safeguard information and related resources.
Transactions Swtiched
0
M+
Integrated Clients
0
+
Dedicated Support
0
/7
Guarenteed Service
0
%
Real Time Transactions
Secure and Trustworthy
Interconnected Banking
Unlock a World of Seamless Transactions!.