This ATM/POS switch will enable us to handle domestic ATM and POS transactions without incurring the extra charges which apply when the handling is done via the card networks. Once we provide e-clearing on a locally-provided network like the National Switch, we are confident that our payment system infrastructure can stand comparison with the best in the world.
A word about the banking landscape and the global economy may be in order. We can crow as much as we want that our banks and our economy have been spared the worst effects of the prolonged crisis which has ravaged the banks and the economies of the developed world.