NBC to connect all ATM and POS machines

The National Bank of Cambodia (NBC) will launch a new system called central shared switch that connects all the ATM and point-of-sale (POS) machines of local banks and microfinance deposit-taking institutions (MDIs), allowing a customer holding a debit card issued by one bank or MDI to use the card on any ATM or POS in the country. Currently, each local bank and MDI operates its own network of ATM and POS machines, and customers generally cannot use a debit card issued by one bank to pay for goods or service from a merchant using the POS of another bank. While customers may have to pay a small fee for using other banks’ terminals, they will find it easier to access their funds, explained Chea Serey, director-general of the central bank. She said the system will be launched with a few participating banks in mid-2017, and all banks and MDIs will be required to sign on by Jan 1, 2018. According to the NBC data, a total of 1.43mn debit cards were issued by local banks as of end-2015, with 1,118 ATMs, and 9,639 POS machines nationwide. (Source: Phnom Penh Post)