FAQ's

Frequently Asked Questions

A National Switch is a payment gateway that facilitates efficient payment processing and interoperability between the service offering of commercial banks, non-bank financial organizations and various other payment institutions within Zambia. 

The switch went live on 23 September 2018 switching ATM transactions and about a year later, 30 September 2019 went live on POS switching.

  • Reduce infrastructure acquisition and transaction costs through shared centralized infrastructure among financial institutions and customers in Zambia;
  • Provide/Promote a multifaceted inter-bank switching platform for all delivery channels that will easily be interoperable with other payment and settlement systems;
  • Promote the development of e-products and delivery channels that would extend the coverage of financial services in Zambia;
  • To reduce the usage of cash and paper based financial instruments in Zambia through the introduction of secure and reliable electronic payment methods.
  • Promote real-time payment of transactions through Straight Through Processing in order to enhance efficiency
  • National Financial Switch
  • Electronic Funds Transfer
  • Cheque Truncation System
  • Centralized Debit Mandates
  • Net Settlement Reporting

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Interconnected Banking

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