National Financial Switch Product Overview

National Financial Switch

National Financial Switch (NFS) ATM network having 37 members and connecting about 50,000 ATMs was taken over by NPCI from Institute for Development and Research in Banking Technology (IDRBT) on December 14, 2009. Over the span of few years, NFS ATM network has grown many folds and is now the leading multilateral ATM network in the country. As on 31st Oct’ 22, there were 1,236 members that includes 113 Direct, 1,076 Sub members, 43 RRBs and 4 WLAOs using NFS network connected to more than 2.61 Lac ATM (including cash deposit machines/recyclers)

NFS has established a strong and sustainable operational model with in-house capabilities and today can be compared at par with other major and well-established switch networks. The operational functions and services are at par with most of the global ATM networks.

Salient Features
  • NFS has introduced sub-membership model which enables smaller, regional banks including RRBs and local co-operative banks to participate in the ATM network.
  • NFS has maintained high standards of application and network uptime of above 99.50% which has helped our member banks to ensure enhanced customer experience.
  • The Bharat Clearing and Settlement System (BCS), has benefitted members with high operational efficiency and ease of online transaction life cycle management (chargeback, re-presentment, etc.) in the network apart from being compliant with local regulatory requirements.
  • NPCI has also tied up with International card schemes like Discover Financial Service (DFS), Japan Credit Bureau (JCB) and China UnionPay International (CUPI) which allows their cardholders to use ATMs connected to NFS network.
  • The Fraud Risk Management (FRM) solution is offered as a value added service to monitor transactions (in real time) and to generate alert or decline the transaction in the NFS network.
Value Added Services:

Interoperable Cardless Cash Withdrawal (ICCW) using UPI - This service shall facilitate (participating) banks’ customers who are live on UPI, to withdraw cash from the participating banks’ ATMs (enabled for ICCW) without using their card. UPI shall be used for customer authorisation for such transaction and settlement shall be done in NFS ATM network.

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Interoperable Cash Deposit (ICD) - This service shall facilitate bank’s customer to deposit cash up to a specified limit into their account. Third Party deposits are also allowed by some banks wherein customer can deposit cash into the same account (linked to the card) or another third party account by entering beneficiary card details.

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Other services offered in NFS:
  • Mobile Banking Registration (MBR) - Allows cardholder to register for mobile banking with their bank, if the mobile number is already updated.
  • Card-to-Card Fund Transfer (C2C) - Allows cardholder to transfer funds from their account to any other bank account through NFS network ATMs.
  • Cheque Book Request (CBR) - Allows cardholder to place a request for a Cheque Book through NFS network ATMs.
  • Statement Request (SR) - Allows cardholder to place a request for Statement of Account through NFS network ATMs.
  • Aadhar Number Seeding (ANS) - Allows cardholder to seed their Aadhaar number in their bank account.

Note: These services are available for customers of participating member’s banks on participating members ATMS.