Zambia Electronic Clearing House Limited (ZECHL), is a non-profit making entity registered under the Companies Act No 10 of 2017. It is a private company limited by Shares. It was formed in 1999 and the current Shareholders are the Bank of Zambia and 18 Commercial Banks.
The ZECHL provides interbank clearing and switching services to the Bank of Zambia, Commercial Banks, and Financial Institutions. The ZECHL operates the National Financial Switch (NFS) and the Cheque Truncation System (CTS), which are common/shared payment gateways that facilitate efficient and secure payment processing and interconnectivity between multi-payment institutions within the country.
The services offered include, but not limited to the following:
1. Card payments. These transactions generated from Automated Teller Machine (ATM) and Point of Sale (POS) devices.
2. Electronic Funds Transfer (EFT). This includes:
a. Direct Debit and Credit Clearing. These are batched EFT transactions.
b. E-Money. These are real-time EFT transactions.
3. Cheque Image Clearing (CIC). These are batched electronic cheque transactions.
4. Performing daily industry net settlement reporting for the ZECHL shareholders.
The ZECHL has a strong workforce of about Thirty-Five (35) employees with its Head Office in Lusaka Zambia as the main operating site, complemented by an off-site Disaster Recovery site.
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Industry
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Financial Services
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Company size
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11-50 employees
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Headquarters
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Lusaka, Lusaka
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Type
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Nonprofit
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Founded
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1999
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Specialties
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Automated Clearing House