Local Switching
Service features of the Local Switching (Debit)
ITMX Local Switching for Debit Cards is a service that connects the company's and member banks' operating systems. The system will send data via an on-line computer system in order to send and receive a request for a balance deduction from the cardholder's account held by the Issuer bank. As well as other services related to the purchase of a product and/or service at the point of sale via Electronic Data Capture - EDC machine or other channels of the Acquirer bank. The company will serve as Switching to send the request or approval for that balance deduction. The current service available only debit cards issued by the Issuer bank in Thailand for purchasing of products an/or services through the Acquirer bank in Thailand, as well as the back office service; For example, processing and settlement, fee process, transaction refusal, transaction adjustment, and report inquiry.
Banking Institutions
Qualifications of the Applicant
1) Must be either a commercial bank licensed to conduct commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) or a bank established under specific legislation.
2) Must be a business provider of the designated payment services under the Payment Systems Act B.E. 2560. (2017).
Revocation of Membership
1) The bank's license to operate commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) has been revoked, or the bank has been disqualified as a bank established under specific legislation.
2) The business provider's license to operate a designated payment service under the Payment Systems Act B.E. 2560. (2017) has been revoked.
Non-bank payment service providers
Qualifications of the Applicant
1) Must be a designated payment service provider under the Payment Systems Act B.E. 2560. (2017)
2) Must guarantee the ability to settle the clearing balance with financial institutions that are members of the BAHTNET system and are collateral providers (CP) in accordance with the Bank of Thailand's Securities Requirement For Settlement in the BAHTNET system
Revocation of Membership
1) The license to be a designated payment service business provider under the Payment Systems Act B.E. 2560 (2017) has been revoked or;
2) Lack of collateral for the ability to settle the clearing balance with financial institutions that are members of the BAHTNET system and are collateral providers in accordance with the Bank of Thailand's Securities Requirement For Settlement (SRS) in the BAHTNET system
of Service
Benefits
1. Bank customers can use an electronic payment channel to purchase products and services more conveniently and securely, eliminating the need to carry cash.
2. Support e-Payment by reducing cash handling costs in the banking sector, including banknote counting, ATM cash delivery/collection/supplying costs, cash storage costs, insurance costs.
3. Reduce counterfeit risk
4. Reduce switching cost by utilizing Local Switching system.
5. Reduce the needs of international payment system.
The company is aware of the highest security for information transmitted via the electronic media of the Local Switching system. We ensure the highest security by prioritizing the use of the most advanced security technology, including data encryption throughout the connection. Additionally, we incorporate private network devices between the company and member banks that control the connection devices using the Security Key system. The company focuses on providing the most advanced security for the advancement of the national transfer/payment system to meet international standards. Furthermore, to protect users from any form of interception while ensuring the integrity of information transmitted through the system.
The company’s Local Switching system has completed the verification and passed ISO 27001 certification for Information Security Management Systems as well as the complying certification under PCI DSS (Payment Card Industry Data Security Standard), which is an international card data security standard.
Security
