SIX launches a scheme to regulate national ATM transactions. The aim of the “National Cash Scheme” (NCS) is to create a general standard for cash transactions in Switzerland.
End customers will benefit from a broader service offering and a consistent customer experience at all participating ATMs. The basis for this is a multilateral and open set of rules that ensures equal rights for all market participants. The project has already been approved by the Competition Commission as part of a preliminary investigation.
At present, the entire range of functions is only available to end customers at the bank’s own ATMs. These restrictions will be removed by the NCS. The technical requirements for this were created in the "ATMfutura" project by SIX, which has installed uniform software on Swiss ATMs. The NCS is now being used to define the contractual basis so that in future all business transactions can also be processed at the ATMs of other institutions. The rules and regulations are designed in such a way that new providers, e.g. of ATMs or procurement means, can also participate in the NCS at any time and under the same conditions. In this way, innovative technologies, e.g. withdrawing money via QR code, are also promoted on a broad basis.
Independently of the National Cash Scheme, SIX is launching this year, together with the banks, the Debit Mastercard and Visa Debit, which offer further attractive additional functions over and above the scope of the existing Maestro / V PAY cards (secure online shopping, reservations in connection with hotel and rental car bookings, etc.).
In order to ensure the broadest possible acceptance of the National Cash Scheme, the new generation of cards is being developed in cooperation with the major international payment technology companies. Visa has already agreed to this. The NCS should be available on the first Visa debit cards this year.
Jos Dijsselhof, CEO SIX: “SIX is driving forward the transformation of the financial markets, making future-oriented technologies viable. The introduction of a National Cash Scheme (NCS) will benefit the Swiss population by providing a significant improvement in the service offering and a uniform customer experience at all Swiss ATMs.”