National Financial Switch (NFS) through a sponsor bank & a technical Service Provider. This would facilitate even the non- scheduled Urban Co-op Banks and Regional Rural Banks to have access to the National network of 90,000 + ATMs in the country.
For the tie up with NFS of NPCI, a Bank needs a sponsor bank & a service provider as technology partner. As per NPCI direction the Bank should have an ATM switch/ HSM for routing the transaction to NPCI or can use the shared services of an ASP vendor.
NetTech in association with InfrasoftTech will take care of the technical aspect like the ATM switch, HSM module, interfacing with NPCI, MIS report etc.
These services will be provided to Bank on ASP model, thereby enabling the Bank to avail the services at minimal cost & provide this additional facility to its customers.
The transaction flow is as under:
1. The txn done by your customer on any NFS ATM will be routed to NPCI NFS switch through acquirer Banks switch.
2. NFS switch will query the liquidity manager for availability of limits in your account with sponsor Bank.
3. If the limit is not available the transaction is declined.
4. If liquidity manager approves, the query is routed to our Data Center which queries the customer’s account balance in your data base.
5. Depending on the availability of funds in account the txn is approved or declined.
Your Bank will have to open an account with Sponsor Bank & has to enter into an agreement. We shall assist you for the same by coordinating with the sponsor Bank (ICICI). Your bank will then become a sub-member. The sponsor Bank will be the settlement banker for all txn carried out by your customers on the NFS network.