Mumbai, Jan 25 (UNI) Sarvatra Technologies, India's leading end-to-end payments and banking solutions provider, has been awarded the 'Best Banking Tech' of the year for its world-class Electronic Funds Transfer (EFT) switch platform that played a critical role in the effective nationwide participation in National Financial Switch (NFS) network.

Sarvatra Technologies was presented the prestigious award in a grand ceremony at 9th India Digital Awards 2019 organised by Internet and Mobile Association of India (IAMAI).



"Sarvatra EFT Switch" is a world-class EFT switch that enables ATM, Merchant POS, and E-commerce payments transactions and is offered to its client banks as PaaS (Platform as a Service) on a shared basis.

It allows its clientele banks to enable ATM/POS network sharing and universal acceptance of their ATM/Debit cards across India.

Sarvatra EFT Switch has been recognised by NPCI (National Payments Corporation of India) for enabling effective nationwide participation in NFS (National Financial Switch) network.



Sarvatra EFT Switch enjoys 55 per cent market share in NPCI's sponsor model, with more than 1.5 crore Debit Cards issued till date.The switch has brought more than 450 co-operative banks on the National Financial Switch (NFS) platform.

Sarvatra provides the entire infrastructure required for a bank to centralize its system and to participate in the national payment network as a managed service. The entire setup is managed by Sarvatra, while the operating cost is on a pay-per-use basis.

This enables even the smallest rural and co-operative bank to offer modern customer facilities with minimal expenditure and shortest time to go live, according to a company statement here on Friday.



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