13 th saarc payments council meeting thimpu bhutan july 2013 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
13 th SAARC Payments Council Meeting Thimpu , Bhutan July, 2013 PowerPoint Presentation
Download Presentation
13 th SAARC Payments Council Meeting Thimpu , Bhutan July, 2013

Loading in 2 Seconds...

play fullscreen
1 / 10

13 th SAARC Payments Council Meeting Thimpu , Bhutan July, 2013 - PowerPoint PPT Presentation


  • 116 Views
  • Uploaded on

Recent Payment & Settlement System Developments in Sri Lanka. 13 th SAARC Payments Council Meeting Thimpu , Bhutan July, 2013. National Payment & Settlement System of Sri Lanka. Major Developments in 2013.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about '13 th SAARC Payments Council Meeting Thimpu , Bhutan July, 2013' - mahina


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
13 th saarc payments council meeting thimpu bhutan july 2013

Recent Payment & Settlement System Developments

in Sri Lanka

13thSAARC Payments Council Meeting

Thimpu, Bhutan

July, 2013

common atm switch

The Common ATM Switch (CAS), the first phase of the Common Cards and Payment Switch (CCAPS), was launched in July 2013.

  • Two state commercial banks joined CAS in the inaugural stage.
  • CAS offers inter-linked service across all the ATMs of CAS member institutions enabling customers of member institutions to carry out their ATM transactions in domestic currency through any ATM of member institutions conveniently.
Common ATM Switch
common atm switch1

CAS improves the efficiency and effectiveness of the domestic ATM network thereby reducing transaction costs in the financial system.

  • More importantly, CAS will contain the outflow of foreign exchange involved in domestic ATM transactions that existed previously.
Common ATM Switch
terminal line encryption technology

Adoption of Terminal Line Encryption (TLE) technology in Point-of-Sale (POS) terminals was made mandatory for financial acquirers by the National Payments Council, which is the highest policy making body for the national payment system in Sri Lanka.

  • Accordingly, migration to TLE was completed by 31 March 2013.
  • As at end March 2013, the total number of TLE enabled POS terminals operating across the country amounted to 24,949.
Terminal Line Encryption Technology
regulating the common atm switch

Two Directions were issued in 2013 with respect to the Common ATM Switch, namely

    • General Direction No. 01 of 2013 – Operations of the Common ATM Switch
    • General Direction No. 02 of 2013 –Fees Chargeable on the Transactions effected through the Common ATM Switch
Regulating the Common ATM Switch
regulating the common atm switch1

General Direction No. 01 of 2013 – Operations of the Common ATM Switch

    • To be adhered by the operator and members of CAS
    • Specifies responsibilities of the operator and members of CAS, and arrangements for business continuity and maintaining data confidentiality
  • General Direction No. 02 of 2013 –Fees Chargeable on the Transactions effected through the Common ATM Switch
    • To be adhered by CAS members
    • Sets out upper limits on fees to be charged from the customer by the issuer and interchange fees to be charged from the issuer by the acquirer, with respect to cash withdrawals and balance inquiries
Regulating the Common ATM Switch
revision of the regulation on payment cards and mobile payment systems

The Regulation on payment cards and mobile payment systems was revised inter alia to:

  • streamline the licensing procedure;
  • revise regulatory powers relating to enforcing the Regulation;
  • change the eligibility criteria to apply for a licence;
  • simplify the classification of businesses relating to payment cards and mobile payment systems;
  • adopt a more flexible fee structure.
Revision of the Regulation on Payment Cards and Mobile Payment Systems