Zambia Electronic Clearing House
Switching of ATM, POS and Emoney tansactions and RealTime clearing of interbank payments within 25 seconds
The most convenient and reliable way to participate in the National Financial Switch
Fast and reliable processing of salaries, debit orders and inter-account payments for tens of millions of people every day, within safely controlled and regulated systems
National Financial Switch (NFS)
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.
Cheque Truncation is the process of clearing cheques using images as opposed to using physical cheques. The physical cheque will be presented by the payee to their bank after which an electronic image of the physical cheque will be captured and sent to the drawer’s bank through the Zambia Electronic Clearing House. The drawer’s bank uses the cheque image and data to clear the cheque as opposed to the physical cheque
Electronic Fund Transfer (EFT)
ZECHL facilitates the movement of funds from one bank to another through the Cheque Truncation System (CTS) with improved efficiency and security.
Zambia Electronic Clearing House Limited
Electronic Funds Transfer, Cheque Image Clearing, National Financial Switch
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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