The Nigeria Inter-Bank Settlement System (NIBSS) has launched the National Payment Stack (NPS), a cutting-edge, ISO 20022-compliant national payment infrastructure.
Speaking at the launch, the Managing Director and CEO, NIBSS, Premier Oiwoh described digital payment as a unified payment, which aligns with local interoperability and support for cross-border payments.
“This landmark unveiling reinforces NIBSS commitment to redefining digital payments in Africa and building on a legacy of innovation that began over a decade ago with the introduction of NIBSS Instant Payments (NIP); Africa’s first real-time account-based digital payment solution.
“Since then, NIBSS has continued to push the boundaries of possibilities with major initiatives like the launch of AfriGO, Nigeria’s national domestic card scheme, and the recent roll-out of instant settlement on POS transactions for AfriGO cardholders.
“Now, with NPS, NIBSS introduces a unified, intelligent infrastructure that reimagines how payments are initiated, processed, and reconciled; bringing together payments, identity and data into a single, seamless ecosystem,” he said.
He added that this newly launched platform has positioned Nigeria as a leader to assist other African countries in building their own payment switches and to extend the use of our platform.
