What is Shared payment network system (SPNS)?
SPNS is a large network of ATMs spread in the city of Mumbai, Vashi, and Thane. It has been established at the behest of Indian Banks Association by India Switch Company Pvt. Ltd. The participating banks issue universal cards to the customers for transacting on this network. The objective of SPNS is to provide anytime and anywhere electronic banking service to the customers in the city of Mumbai, Vashi, and Thane through the state- of- art electronic funds transfer system to be shared by different participating banks. (It offers services like cash transactions, extended hours service, across the bank payments, utility payments, check deposits, request for cheque book, point of sale facilities etc.