The Card Services offered by Namclear’s Card switch or NamSwitch, consist of online, real-time card transaction switching and clearing, as well as batch clearing and settlement. All card transactions switched by NamSwitch are settled through the Namibian Interbank Settlement System (NISS). All card transactions are conducted in Namibian Dollars (NAD). The Card services are divided into three sub streams called: ATM Stream, POS Debit Stream and POS Credit Stream. Only domestic card transactions are being switched, cleared and settled via NamSwitch.
NAMSWITCH OVERVIEW
ATM STREAM
The Namclear’s NamSwitch ATM service enables any participating bank customer to withdraw money from any ATM belonging to another participating bank. This service supports both the Debit and Credit Card products. All local transactions are switched between the issuing and the acquiring banks.
Participating ATM’s will offer immediate authorisation and clearing through NamSwitch. Settlement figures will be accumulated for issuers and acquirers and will be presented to the NISS. This service supports Debit, Credit and Hybrid card products that are used on an ATM.
The following transaction types are allowed on the ATM stream:
- goods and services (e.g. airtime)
- cash withdrawals
- balance enquiries
- mini statements
POS DEBIT STREAM
The NamSwitch Debit Card service enables the merchant of any participating bank to acquire transactions, using a POS device, irrespective of which bank the merchant’s customer may utilise. All local transactions are switched between an issuing and an acquiring bank. The service also supports the standard authorised/non-authorised response to the acquiring bank.
The Debit Card service will offer an immediate authorisation and clearing through the NamSwitch. Settlement figures will be accumulated for the issuers and acquirers, and be presented to the NISS. This service supports Debit Card products that are used on a POS. The following transaction types are allowed on the ATM stream:
- cash withdrawals
- goods with cashback
- balance inquiries
POS CREDIT STREAM
The Namswitch Credit Card Service supports the authorisation, clearing and settlement services for credit cards. The authorisation service caters for the authorisation of credit transactions by the customer of any participating bank, irrespective of which the acquiring bank of the merchant and of the POS device.
Transactions are switched to the issuing bank for an authorisation which is followed by a response message back to the merchant’s POS device, via the acquiring bank. The Credit Card Service will offer an immediate authorisation and clearing, as well as a batch clearing and settlement through the Namswitch. Settlement and figures will be accumulated for the issuers and acquirers, and be presented to the NISS.
This service supports Credit and Hybrid card products used on a POS. The following transaction types are allowed on the ATM stream:
- goods and services
- cash withdrawals
- goods with cashbacks
- quasi cash and script
- refunds
- general credits