19 February 2018
visit www.ebaday.com

Indian banks sign MOU for shared ATM network

14 April 2003  |  3158 views  |  0 Indian banks sign MOU for shared ATM network

EFT processor India Switch Company has been selected to implement and manage a shared ATM network for Bank of India, Indian Bank, Punjab National Bank, Syndicate Bank and United Bank of India.

The public sector banks have signed a memorandum of understanding to develop the shared network, which will link over 1000 ATMS.

In addition to ATM transactions, the network will be used to process debit and credit card POS transactions, with settlement provided by the Bank of India.

India Switch Company says the network will also enable develop services for utility bill payment and Web transactions.

The company says that other banks could join the network in the future.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Brief: Bank of India signs with Misys for MidasPlus

Brief: Bank of India signs with Misys for MidasPlus

24 March 2003  |  4156 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.swift.com/your-needs/instant-paymentsVisit www.vasco.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11366 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8920 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8805 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8757 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8164 views 4 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job