DEBIT Reference Guide for On-boarding RuPay Kisan Card and RuPay Debit Card

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1 DEBIT Reference Guide for On-boarding RuPay Kisan Card and RuPay Debit Card GIZ NABARD Rural Financial Institutions Programme in Cooperation with NPCI

2 Imprint Published by: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH GIZ NABARD Rural Financial Institutions Programme Contact: Dr. Detlev Holloh, Programme Director Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH L-20, Green Park (Main) New Delhi / INDIA Phone: Telefax: Homepage: Responsible: Amit Arora Author: Sunil Aggarwal Editor: Nitin Jindal Design/Layout: Second Edition New Delhi, October, 2013 DISCLAIMER Since the guide addresses all SCBs and DCCBs in India, it is possible that the requirements of some banks do not fit into the defined processes. The contents are indicative and supporting in nature. Also the cost heads mentioned in this document are indicative in nature. While every care has been taken to ensure accuracy, banks are advised to exercise their own due diligence and treat this guide only as an additional point of reference.

3 Reference Guide for On-boarding RuPay Kisan Card and RuPay Debit Card GIZ NABARD Rural Financial Institutions Programme in Cooperation with NPCI

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5 Preface Definition of Payment System Payment System is a unique and critical part of banking activities. This has been regulated under the Banking Regulations Act 1949 and the RBI Act The advent of electronic payment system resulted in the paradigm shift in the way the banking is done. It has given birth of Anywhere Anytime Banking and a host of new products, services and conveniences like paperless, cash less payments. It also resulted in need to expand the scope of regulations to include electronic payment systems. Accordingly, in 2007, an Act was passed, namely the Payment and Settlement Systems Act, 2007 (PSS Act) and the governing regulations were enacted vide Payment and Settlement System Regulations, PSS Act defines the payment system as a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them, but does not include a stock exchange or clearing corporations set up under stock exchanges. To decide whether a particular entity operates the payment system, it must perform either the clearing or settlement or payment function or all of them. Under the PSS Act, RBI is the designated Authority for regulation and supervision of the Payment Systems and for matters connected therewith or incidental thereto. In terms of the provisions of the Act, no person other than the RBI can commence or operate a payment system in India unless authorized by the RBI. The RBI is empowered for authorizing, prescribing policies and setting standards for regulating and supervising the payment and settlement systems in the country. Any unauthorized operation of a payment system would be an offence under the PSS Act and accordingly liable for penal action under that Act. Further, the system provider is required to operate the payment system in accordance with the provisions of the Act and the Regulations, the contract governing the relationship among the system participants, the rules and regulations which deal with the operation of the payment system, the terms and conditions of authorization and the directions given by the RBI from time to time. RBI is authorized to issue directions to a payment system or system participant to cease or desist from engaging in any act, omission or course of conduct or direct it to perform any acts as well as issue general directions in the interests of the smooth operation of the payment system. RBI is empowered to revoke the authorization granted by it, if the system provider contravenes any provisions of the Act or Regulations, fails to comply with its orders/ directions or violates the terms and conditions under which the authorization was granted to it. RBI has since authorized several payment system operators of pre-paid payment instruments, card schemes, cross-border in-bound money transfers, ATM networks and centralized clearing arrangements. RBI is empowered to prescribe the format of payment instructions, size and shape of instructions, timings to be maintained by payment systems, manner of funds transfer criteria for membership including continuation, termination and rejection of membership, terms and conditions for participation in the payment system etc. For operating various Retail Payment Systems in India, an umbrella organization has been setup, namely National Payments Corporation of India (NPCI). Current Payment Systems The Payment Systems currently in use include clearing of cheques/demand drafts/pay orders, money transfers through ECS/NEFT/RTGS, card operations (Debit/Credit/Pre-paid) through ATM/POS/Internet, Mobile Banking, Internet Banking etc., described briefly below: iii

6 1. Paper Based Clearing Cheque/DD/ PO etc Payment System operated by RBI/ designated banks at different locations Membership - Direct/Through Sponsor Bank Types of Clearing Non MICR Clearing/MICR Clearing/CTS (Cheque Truncation System) 2. Electronic Clearing Service (ECS) ECS is an electronic mode of payment / receipt for bulk transactions that are repetitive and periodic in nature. Once the customer subscribes to the facility by giving a mandate (authorization), the funds are transferred on the due date from/into the bank account electronically. ECS is of 2 types ECS Credit and ECS Debit, briefly described below: a. ECS Credit For affording credit to a large number of beneficiaries (like distribution of dividend, interest, salary, pension, etc.,) having accounts with bank branches at various locations within the jurisdiction of an ECS Centre by raising a single debit to the bank account of the user institution. b. ECS Debit For raising debits to a large number of accounts (like payment of telephone/ electricity/water bills, cess/tax collections, loan instalment repayments, periodic investments in mutual funds, insurance premium etc.) maintained with bank branches at various locations within the jurisdiction of an ECS Centre for single credit to the bank account of the user institution. ECS Centres i) Local ECS Operating at 81 centres / locations across the country. At each of these ECS centres, the branch coverage is restricted to the geographical coverage of the clearing house, generally covering one city and/or satellite towns and suburbs adjoining the city Operated by: RBI/ Designated Banks at different locations Pre-requisite: Clearing Membership at the location ii) Regional ECS (RECS) Operating at 9 centres/locations across the country. RECS facilitates the coverage all core-banking-enabled branches in a State or group of States and can be used by institutions desirous of reaching beneficiaries within the state/group of states Confined to the bank branches within the jurisdiction of a Regional office of RBI Pre-requisite: Clearing Membership at the location and CBS iii) National Electronic Clearing Service (NECS) The centralized version of ECS Credit, being operated at Mumbai and facilitates the coverage of all core-banking enabled branches located anywhere in the country Operated by: National Clearing Cell (NCC) RBI, Mumbai Pre-requisite: Clearing Membership at Mumbai and CBS 3. NEFT and RTGS One-to-one Inter-bank funds transfer for individuals /corporate Real Time Gross Settlement (RTGS) Online transfer during business time. Minimum amount Rs.2 lac. Each transaction payment is settled between remitting and recipient banks independently at the time of remittance National Electronic Funds Transfer (NEFT) Remittance in hourly batches during business hours. No minimum and maximum amount limit. Inter-bank settlements at hourly intervals RTGS System is also used by banks for their inter-bank settlements for various types of transactions, like: a) Remittances b) Purchase of government securities (through Clearing Corporation of India Ltd.) c) ATM/Micro-ATM/PoS Transactions (through National Payment Corporation of India Ltd.), The System is operated by the National Clearing Cell, RBI, Nariman Point, Mumbai Banks have to fulfill terms and conditions prescribed by RBI to become member of the System. Those unable to meet the conditions can become sub-member through sponsorship by an existing member. iv

7 4. Card Based Payment System Credit/ Debit/Pre-Paid Card Payment Network operated by NPCI/ Visa/Master Card Pre-requisite: Membership Direct/through Sponsor Bank and CBS The Cards enable the customers to effect payment through ATMs/Micro-ATMs/Point of Sales Terminals (PoS) and Internet 5. Internet Banking, Bills/Taxes Payment and E-Commerce Customers can use Internet channel for payments. Banks provide access to account through Internet to their customers for transfer of funds in own account, remittance to others accounts, bills/ taxes payments, payment for purchase of goods/ services etc. 6. Mobile Payment System (Immediate Payment System) Only banks, licensed and supervised in India and having physical presence in India are permitted to offer mobile banking after obtaining necessary permission from RBI Provided by: NPCI through its existing NFS switch Pre-requisite Bank should have mobile banking licence from RBI, CBS and Mobile banking application. Electronic Payment Systems have been adopted quickly by the commercial banks, which has brought unprecedented benefits to them. RRBs have also moved forward with the support of their sponsor banks. SCBs and DCCBs in India have also now embarked upon the mission of on-boarding the Core Banking Solution and Electronic Card Payment Systems. Some SCBs have taken the lead for themselves as well as for the DCCBs under their fold. Some DCCBs have moved forward of their own. This Reference Guide has been prepared with a view to support these banks in on-boarding Electronic Card Payment Systems. The reference points are intended to draw attention to key points which the banks should keep in mind while selecting Card Payment System and to improve understanding of the systems to avoid pitfalls and adopt processes which led to successful adoption of the system by members of the peer group. Contents v

8 Table of Contents Title Page Introduction... 1 RuPay Kisan Card / RuPay Debit Card - Procedure for On-boarding Compliance with the Guidelines Issued by NPCI Acquisition of Card Payment Switch (with Card Management System) Option 1 - Acquisition of the Card Payment System on Ownership Basis Option 2 - Acquisition of the Card Payment System on ASP Model NABARD s Financial Support Membership of National Financial Switch (NFS) Direct Membership Sub Membership Printing of Cards, PINs and Welcome Kits Cost Components Procedure for Getting IIN from NPCI Standard Operating Procedure NABARD s Financial Support for Introduction of RuPay Kisan Card Installation of PoS/MICRO-ATM Key Features Key Components of PoS/Micro-ATM Facility Acquisition of PoS/Micro-ATM Switch Module Acquisition of PoS/Micro-ATMs NABARD s Support for Installation of PoS/Micro-ATM...18 Contents vi

9 Title Page 6. Installation of ATM Acquisition of ATM Switch Module Acquisition of ATMs Prominent ATM Manufacturers and ASP Vendors for ATM NABARD s Support for ATM...25 Annexure A -ATM Transaction Flow Annexure B - Vendors Approved by NPCI for Card Design & Manufacture Annexure C - Format for Submitting KCC Proposal - Cooperative Banks Glossary Contents vii

10 Introduction Photographs by Enrico Fabian Having migrated to CBS, the natural progression for the cooperative banks is to on-board electronic Card Payment System to be able to offer Anywhere Anytime Banking Services to their customers and to provide short term credit facility to farmers through RuPay Kisan Card (KCC Card). It would help the farmers to get banking facilities at their door step on a 24 x 7 basis across all locations through ATMs/PoS/ Micro-ATMs ( alternate channels ). The salient features of the Card Payment System are: These alternate channels of the bank are connected to the bank s CBS through the software solution called Switch. The transactions on bank s own alternate channels are routed through the Switch to the bank s CBS. To facilitate transactions of cards issued by other banks, the Switch should be connected to NFS so that such transactions are transmitted to respective bank s Switch. Those other banks Switches should however be similarly connected to the NFS. To connect to the NFS, the banks have to secure membership of the same from NPCI. Banks can become direct member or can go through another existing member bank under the Sponsorship Scheme. 1

11 The international transactions through International Debit/Credit Cards are routed to the concerned Network Service Provider Visa/ MasterCard/American Express/Diners Card etc. NFS has recently entered into a strategic alliance with Discover Financial Services (DFS) to expand its reach to international transactions. These being card based channels, banks require a Card Management System (CMS) which contains the requisite information about the cards account holder s name, account number, card number generation & updation logic, password, PIN Management, hot listed cards, expired cards, biometric record etc. It validates the authenticity of the card before the transaction is transmitted to the CBS through the Switch for completing the transaction. It is not necessary for a bank to have ATM, PoS or Micro-ATM to introduce Card Based Electronic Payment System as the Card Holder is free to use the Card at these alternate channels installed by other banks in the network. It would be however necessary for these banks to have EFT Switch with the CMS Solution. As and when the bank intends to install its own ATM and/or PoS/Micro-ATM, it has to add ATM and/or PoS/Micro-ATM module(s) to the Switch. In all there would be 5 modules in the Card Payment Switch Switching system, Card Management System, ATM Module, the PoS/ Micro-ATM Module and the Host Security Module (HSM). The validation of a card initiated transaction is through Card and PIN in case of ATM Card, PIN and/ or Signature in case of PoS Card and Biometric Identification in case of Micro-ATM The Card related transaction on Internet Banking is routed through Internet Module of CBS to the Card Payment Switch for validation of the Card related information; and thereafter it is relayed to the CBS. The Switch for Mobile Banking is independent of the ATM and POS/Micro-ATM Switches, having its own logic, processing and operating system. The Cards are linked in the CBS to the respective KYC Compliant Accounts The banks are required to print cards, PIN mailers and Welcome Kit etc. Most of the banks find it beneficial to outsource these activities to approved vendors. To facilitate inter-bank transactions within the country relating to ATM, PoS, Micro-ATM and Mobile Banking, National Financial Switch (NFS) has been setup by NPCI. To be a part of the inter-bank payment through these channels, it is necessary that banks become member of NFS and arrange connectivity of their Switches to NFS. For international card transactions, currently Visa and MasterCard services are being availed. NPCI also has started issuing International Chip Cards recently in association with Discover Financial Services. Annexure A contains the Transaction Flow of ATM/PoS/Micro ATM transactions. Contents 2

12 RuPay Kisan Card / RuPay Debit Card - Procedure for On-boarding The RuPay Kisan Card and RuPay Debit Card are plastic cards issued by banks to the farmers and other customers to extend the facility of Anywhere Anytime Banking. The Card Holder is able to use the Card at any ATM, PoS, and Micro-ATM or through Internet ( alternate channels / delivery channels ) to con- duct financial and non-financial transactions. All transactions done at the above delivery channels of the Card Issuer Bank are routed through the switch to the CBS of the bank. The transactions done at the alternate delivery channels of other banks are routed through the multi- lateral network created by NFS to reach the Issuer bank s switch /CBS. To enable the aforesaid, the bank is required to take multiple steps which are briefly described in table below. The activities to be undertaken under each step can be broadly divided into following six segments: 1. Compliance with the Guidelines issued by NPCI 2. Acquisition of Card Payment Switch (with the Card Management System) Steps for on-boarding the Card Payment System 1 Acquisition of Switch and Card Management System OR Engaging an ASP Vendor for providing Switch and Card Management Services. (NPCI has displayed list of Vendors having required certification. Other Vendors will require prior NPCI certification) 2 Bank to obtain Membership of NFS from NPCI after complying with specified terms and conditions OR 3. Banks to become Sub Member through Sponsorship by an existing Member bank (For easier connectivity, the Banks may keep in mind the Switch taken by the Sponsor Bank while selecting Switch Vendor/ASP) 4 Linking ASP Vendor s Switch with Switches of DCCB 5 Internal certification with identified ASP and Bank s CBS for conforming readiness to NPCI for certification 6 Selection of Card Vendor (certified by NPCI) 7 Submission of application to NPCI for IIN assignment 8 Submission of Documents to NPCI for Risk Assessment & Compliance evaluation 9 Finalization of Card Design as per NPCI card specifications 10 Submission of card design for approval from NPCI 11 Submission of embosser file with CVD values and track 1 & 2 data to NPCI for validation 12 Placing order with Card Vendor for printing of test cards 13 Submission of 30 test card plastics, card details & Requirements template to NPCI 14 Carrying out the Host to Host Testing & Certification round as per RuPay Specs and NPCI specified TAT. 15 Bank and NPCI to sign off successful testing on the UAT scripts 16 Pilot Go Live with 4 to 5 identified Members 17 Reconciliation & accounting conformation from the bank on pilot go live process 18 Full go Live 3

13 3. Printing of Cards, PIN mailers and Welcome Kits 4. Membership of National Financial Switch (NFS) 5. Installation of PoS/Micro-ATM 6. Installation of ATM The key points relating to each of the segment have been described below with the aim to help the banks in selection of the appropriate solution, hardware and the vendor, evaluation of costs, following the process for joining the payment system, commissioning of the solution, ensuring the security, managing technology upgrades and growth etc. It may be noted here that the mandatory activities for on-boarding the Card Payment System are (1) Membership of NFS (2) Acquiring Payment Switch and (3) Printing of Cards/Pin. (4) PCI & other certifications done by ASP. It is not necessary to install PoS/Micro- ATM/ ATM. However, the Card Issuing Bank has to pay Inter-change Fee to the Bank which owns the ATM/Micro-ATM on which the Card is used. In case of use at PoS, the Card Issuing Bank is entitled to receive a part of the commission received by the bank owning the PoS. The rates of payable fee and receivable commission are advised by NPCI. Banks generally prefer to install their own ATM/Micro-ATMs at locations having large usage of the Cards issued by them. Banks are advised to exercise due diligence and consider these guidelines only as a support in their endeavour. Contents 4

14 1. Compliance with the Guidelines Issued by NPCI Following are the key steps required to be taken by banks for on-boarding the RuPay Card Payment System: a. Obtain Board approval for Direct/Indirect membership of the Payment System. b. Submit application to NPCI alongwith the board approval, copy of RBI License, balance sheet and other documents prescribed by NPCI, for obtaining Institution Identification Number (IIN). c. Tie-up with a Sponsor Bank in case of Indirect Membership and submit the IIN application to NPCI, with the Sponsorship letter from the Sponsor Bank. d. Alongside, the bank to proceed with the selection of the card vendor from the approved list of NPCI. The technical specifications of the Card are to be as per NPCI defined standards e. Allotment of IIN for RuPay Debit and RuPay Kisan Card by NPCI f. Sharing of card design files and RuPay card specification by NPCI g. Sharing of sample embosser file and test cases by the Bank to NPCI h. On successful testing, bank would be ready to go live directly / under sub-membership of Sponsor Bank Banks are advised to visit website of NPCI (www. npci.org.in) for detailed guidelines in the matter. Besides, NABARD has published A Comprehensive Handbook on Card Terminology, FAQs and NABARD Guidelines for providing card enabled ser- vices by Regional Rural Banks and Cooperative Banks. It is hosted on the web site of NABARD. The banks will find the handbook extremely helpful in implementing the Card Payment System. 5

15 2. Acquisition of Card Payment Switch (with Card Management System) Banks can acquire Card Payment Switch on Owner- ship basis as well as under ASP Model. Major contributing factors for selection of the Option are outlined below: a. Estimated No. of Cards/No. of Transactions If the number of cards is low, it is cost effective to outsource this activity to ASP rather than managing the entire Payment System which will have a certain minimum cost of maintenance b. Cost of Acquisition of the Card Payment Switch The cost of acquiring Payment System has a certain minimum cost. If the volume of transactions is not likely to be high in the medium term, it may be worthwhile to opt for ASP Model. The cost benefit needs to be assessed appropriately. Over the period of time, it is also likely that the technology and/or medium undergo changes which may call for additional expenses. That can be avoided in ASP Model c. Plans to offer sponsorship to other banks In case a bank intends to be the sponsor for other banks, it may be advantageous to select ownership basis d. Availability of IT Resources The availability of IT resources in the bank to manage the Payment System is a key factor for taking decision in favour of ownership basis e. Financial Resources The upfront cost of acquiring Payment System is required to be seen in the backdrop of financial strength of the bank f. Available Roll-out time The ownership basis model would require time to setup the Payment System. In view of most of the banks running behind projected time-lines, ASP Model would be better suited. The readiness of the technology base would be a key factor 2.1 Option 1 - Acquisition of the Card Payment System on Ownership Basis If the bank intends to offer sponsorship to other banks or expects large volumes and has sufficient IT resources, the ownership model may be better suited Selection of Software Solution Following key points are to be given due consideration: a) Certification by NPCI b) Adherence of the Switch to all the Technical norms & security guidelines as per RBI & NPCI requirements c) Licensing Terms - i) Limitation on the Number of Transactions/Cards/Channels/Devices present or future ii) Right of use by Associates/BCs/Agencies/ Subsidiaries d) Price Points i) Inclusions: Application Software, System Software, Connectivity with Host & NFS, Project Implementation, Training/Support ii) One time Licence Fee and recurring fee etc. iii) Exclusions: Hardware, third party software etc. iv) Customization cost e) Integration with the CBS/Implementation Turn Around Time f) Customization requirements and time lines g) Availability of regulatory and normal reports h) Support for additional/future MIS requirements i) Training to Implementation Team& other staff, support methodology j) Performance Warranties, Quality Assurance, Contents 6

16 Certifying Authority, Date, Validity etc. k) Problem/Critical Support Management System and Turn Around Time l) Terms of Annual Maintenance/Technical Support, Period of validity of rates m) Future Versions upgrade, release terms, frequency, management of existing Version n) Solvency of the Vendor for sustained support in the medium/long term o) Reference Check with an existing client onsite visit p) Security from external threats - hacking/intervention q) Hardware requirement and other dependencies r) Turnkey options Software/Hardware/Commissioning and initial hand-holding Selection of Hardware a) Technical specifications as per Software Solution b) Sizing of Capacity to take care of at least medium term requirements c) Delivery Period, dependencies d) Complaint Management System Methodology for resolution of problems, Turn Around Time, Critical Support Management System e) Annual Maintenance Contract/Annual Technical Support Terms f) Reference Check with any existing client onsite visit g) Solvency 2.2 Option 2 - Acquisition of the Card Payment System on ASP Model The Model relieves the bank from the efforts involved in setting up their own Switch. The ASP Vendor owns the Switch and undertakes the entire operating activity at its own location on a shared basis, providing the service to many banks. It has the connectivity with the NFS already in place, if its duly certified by the NPCI. The ASP Vendor also possesses the DR site for the Switch. Only connectivity with the CBS of the client bank is required which significantly cuts down the time and costs. This Model is considered a value proposition for the DCCBs in the background of limited volume and IT resources, need for quick turn-aroundtime and savings of capital costs Selection of Vendor The Switch of the ASP Vendor needs to be certified by NPCI. The certification process followed by NPCI ensures that the ASP Vendor has requisite wherewithal to undertake the activity on the sustainable basis, ensuring security and safety. ASPs compliant of laid down specifications need certification by NPCI to be able to offer services to the Banks. At present following nine (9) ASPs are providing services to the bank as per norms specified NPCI. The list is subject to revision from time to time and therefore banks are advised to get in touch with NPCI for updated status at the time of selection of the Vendor: 1. FIS Solutions 2. C-edge 3. Euronet Services 4. Sarvatra Technology 5. Thane Janata Sahakari Bank 6. Shyamrao Co-operative Bank (Maximus and Narada Switch) 7. Saraswat Co-operative Bank 8. Finacus 9. E-Cosmos Solutions (Cosmos Bank) Banks need to look into the following matters, inter-alia: a) Licensing Terms - i) Limitation on the Number of Transactions/ Cards/Channels/Devices present or future ii) Right of use by Associates/BCs/Agencies/ Subsidiaries b) Price Points i) Fixed Cost (one time for Integration/ Inter-facing with Bank and NPCI), Commissioning ii) Transaction (Switching) Fee - Financial Transactions/Non-financial Transactions iii) Basis of Fee Fixed or per Transaction, Flat Rate or Graded on the basis of Volume, all inclusive or any exclusion, any minimum per month criteria iv) Project Implementation, Training/Support 7

17 v) Exclusions: Hardware, third party software etc. vi) Customization cost c) Customization requirements and time lines d) Availability of regulatory and normal reports e) Support for additional/future MIS requirements f) Turn Around Time g) Implementation time, training to Implementation Team and others, support methodology h) Hardware requirement and other dependencies i) Data Centre Integrity, Safety and Confidentiality j) DR site at a different seismic zone k) Quality Assurance, Certifying Authority, Date, Validity etc. l) Problem/Critical Support Management System and Turn Around Time m) Warranties for Performance (uptime) and Data Security n) Solvency of the Vendor - for long term sustenance and support o) Reference Check with an existing client onsite visit 2.3 NABARD s Financial Support Cost of integration charges between POS and CBS server On reimbursement basis. Contents 8

18 3. Membership of National Financial Switch (NFS) The bank should consider following points before deciding the mode of membership: a) Direct Membership may not be a cost effective proposition if the volumes are not sufficient b) Scope of sponsoring other banks If the bank intends to be the sponsoring bank, direct membership is suitable in line with the Bank s technical & operational capabilities. Otherwise, it may be better to opt for sponsorship model c) Sponsorship model can prove to be quite a value proposition if the tie-up terms are well negotiated. Following benefits can accrue: i) Migrating to Payment System would be quick as technical issues relating to approval of the switch, establishment of link with NFS etc., would stand addressed. Only link with ASP s switch would need to be established. ii) Sponsoring bank s ATM/ PoS network may be available for Card Holders without any interchange costs. iii) Sub Membership would overcome the requirement of two rounds of testing. Only one round of UAT would be required. No comfort Testing would be required as the ASP would already be certified. 3.1 Direct Membership Bank fulfilling the following General and Technical Eligibility criteria can apply to NPCI for direct membership General Eligibility Criteria a) Bank should have valid Banking License from RBI. b) Bank should have Current A/c with RBI c) Bank should be on CBS for all its Branches, RO, HO and extension counters. d) Bank should be a direct RTGS Member of RBI e) Bank should have HSM and Card Management System* f) Should have ATMs and the ATM Switch networked with the NFS* g) Should have EFT Switch* as per NPCI s technical criteria & adhering to security guidelines of RBI h) Should have DR&PR site for Data Centre* and Switch i) Bank to own responsibility to carry out Clearing & Settlements Daily 3-way Reconciliation Dispute Management Fraud and Risk Management *Own or Sharing Basis Technical Eligibility Criteria a) Use of HSM (External Host Security Module) for encryption and decryption b) FIPS 140-1/140-2 or FIPS 197 certified crypto product (HSM Standard) c) Pin Generation and verification using HSM d) ATMs and POS should have unique Key per terminal e) Use of Double length Triple Des keys for terminals and translations f) Mandatory PIN, CVV1 and expiry date verification by issuers g) PCI DSS compliance for Switch PR & DR 3.2 Sub-Membership Salient Features: a) Since most of the DCCBs are not member of 9

19 RTGS, they tie up with the Direct Member Bank of the NFS. b) Under the terms of agreement the Sponsor Bank assumes the role of the Settlement Banker / Sponsor Bank for these DCCBs. c) The DCCB has to open a current account with the sponsor bank and keep it funded as per mutual arrangement for settlement. d) The Bank s customer will have cards having a unique IIN issued by NPCI for RuPay Debit Cards. e) The Banks would have tie-ups with various ASP/TSPs who automate their inter-branch network, establish ATMs & issue ATM cards. f) Since considerable investment and expertise is required to setup Payment Switch, smaller banks normally use the services of ASP for Payment Switch on sharing basis. g) ASP usually has a switch-to-switch tieup between the NFS switch and its Switch through which multiple co-op banks CBS are connected. The bank would therefore be required to only arrange connectivity between its CBS and the Switch of ASP. h) Sub-Member can act both as Issuer and Acquirer also i) As a sub member the Bank incurs the costs towards i) Switch sharing with the ASP/Sponsor Bank ii) Card production, personalization and issuance iii) Rs per transaction as switching charges to NPCI for Off-us transactions iv) Rs. 15/- + Service Tax for Financial Transaction and Rs.5/- + Service Tax for Non-Financial Transactions to Acquirer Banks for Off-us transactions General Eligibility Criteria a) CBS Implementation b) Sub membership through sponsorship by an existing NFS Direct Member Bank c) EFT Switch Own or through ASP d) RTGS Member - Direct or through Sponsor Bank e) DR/PR site for Data Centre* Own or through ASP f) To carry out Clearing & Settlements # g) Reconciliation& Dispute Management # h) Fraud and Risk Management # # Responsibilities can be shared with Sponsor Bank & ASP Technical Eligibility Criteria Own or through ASP a) PIN generation & verification using HSM b) HSM for PIN encryption & decryption c) Mandatory Pin, CVV1, Expiry date verification by issuer d) Switch duly certified by the NPCI e) Debit Card Management System f) Switch to be PCI-DSS compliant Documents to be submitted by the Bank to NPCI to initiate the on-boarding of the Bank as sub member a) Sponsorship letter from the Sponsor bank introducing the Bank as sub member and the ASP. b) Approach paper from Sponsor Bank (if new) c) Approach paper from ASP (if new) d) Board resolution from Sponsor Bank for participation in the Sponsor Bank Model of NFS (if new) e) Duly filled & attested Risk Checklist from the Bank f) A copy of RBI license issued to the Bank g) Duly filled and attested Network compliance checklist from the Bank h) Audited balance sheet of the Bank for last 3 years i) A copy of CAMEL ratings of the Bank j) KYC & AML Compliance Undertaking k) Status Form of OC 47 - Disabling Cash Retraction Facility in ATMs, if the Bank has deployed own ATMs l) Network Diagram between sub-member Bank &the ASP m) IIN Request form & Cover letter from Bank n) Application for joining NFS as sub-member and annexure from Bank o) Bank Information Sheet from the Bank p) Non-Disclosure Agreement q) Sub-membership Undertaking r) RuPay Membership Agreement s) Tri-partite agreement to be executed between Sponsor Bank, Sub-member & NPCI. Contents 10

20 3.2.5 Standard Operating Procedure a) The Sponsor Bank will handle the settlements on behalf of the sub-member bank and will indemnify settlements on the NFS network on behalf of its sub member bank. The Sponsor Bank and the sub member bank will have an internal settlement mechanism mutually decided by both entities. b) DCCB will forward the customer complaint to the Sponsor Bank (who would already have a Dispute Management mechanism in place by virtue of being a part of the NFS network). The Sponsor Bank will raise the dispute in its DMS using its DMS ID assigned to the Sub-member. Complaint will be solved as per normal procedure &a solution will be provided to sponsor bank which in turn will provide the same to the DCCB c) NPCI will settle all DCCB transactions with the Sponsor Bank as a part of the consolidated settlement of the sponsor bank. It will be the responsibility of the Sponsor Bank to settle the same with the DCCB. d) Sponsor Bank would inform NPCI to maintain the limits into the Liquidity Manager and NPCI would do the same and confirm back to Sponsor Bank. e) Limits with respect to the Sub-Member, as advised by the Sponsor Bank would be captured in the Liquidity Manager f) All transactions would be routed through Liquidity Manager first and only successful transactions would be sent to sub member through ASP g) The Sponsor Bank will check its Issuer/Acquirer activity reports and other MIS received from NFS and settle its accounts accordingly with the DCCB at mutually decided intervals. h) The Sponsor Bank will refer to the NFS generated Issuer Activity reports and other MIS to settle transactions under the specific DCCB IIN number i.e. for doing recon. i) The Sponsor Bank will be responsible for DMS on behalf of the DCCBs. j) Separate DMS report for net settlement and other reports would be generated for the Sponsor Bank in respect of the sub member k) Separate DMS IDs would be created for Sponsor Bank to capture DMS related issues for the sub members l) NPCI would tag sub member to its Sponsor Bank and the ASP m) ASP should be certified by the 3rd Party SISA Certified Auditor n) Technical Certification for NFS connectivity would be done by NPCI DCCBs need to lay down detailed Procedure for operating under Direct/Sub Membership, liquidity management, reconciliation, dispute management etc. Differences in Direct membership and Sponsor Bank (Sub-member) Model Requirements Direct Members Sub Members CBS implementation Yes Yes EFT Switch Yes/ Can be on Share basis Yes/Can be thru Sponsor Bank Connectivity to NPCI Yes/ Can be on Share basis No/ Can be thru ASP RTGS member Yes No/ Can be thru Sponsor Bank DR/PR site for data center Yes/ Can be on Share basis No/ Can be thru ASP HSM for Pin encryption /Decryption Yes/ Can be on Share basis No/ Can be thru ASP Debit Card Management System Yes/ Can be on Share basis No/ Can be thru ASP Acquiring facility on your switch Yes/ Can be on Share basis No/ Can be thru ASP To carry out Clearing & Settlements Banks Own responsibility Responsibilities Can be shared with Sponsor Bank& ASP Recon & Dispute Management Banks Own responsibility Responsibilities Can be shared with Sponsor Bank & ASP Fraud & Risk Management Banks Own responsibility Responsibilities Can be shared with Sponsor Bank & ASP 11

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