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The Nigeria Inter-Bank Settlement System <a href="https://nibss-plc.com.ng/" rel="noopener noreferrer nofollow">(NIBSS</a>) is stepping up its game with the launch of the National Payment Stack (NPS), an innovative instant payments platform powered by technology from US-based <a href="https://transactility.com/" rel="noopener noreferrer nofollow">Transactility</a>. This cutting-edge system is set to revolutionise digital transactions across Nigeria, supporting seamless transfers, QR code payments, and more.
Leveraging Transactility’s <a href="https://jpos.org/" rel="noopener noreferrer nofollow">jPOS</a> open-source technology and jPTS payment switch, NIBSS aims to enhance the country’s financial infrastructure. With a focus on the ISO 20022 messaging standard, the new platform will enable financial institutions to exchange richer, more structured transaction data.
The NPS is designed to facilitate instant account-to-account transfers, convenient QR payments at merchants, and payments via user-friendly identifiers like phone numbers, plus it even supports bulk payments. Built with a modular architecture, NIBSS combines its own technology with selected open-source tools, allowing for easy adaptation as market needs evolve.
<figure class="wp-block-image size-full"><img width="799" height="544" src="https://technext24.com/wp-content/uploads/2026/06/image-10.png" alt="Nigeria’s new payment infrastructure hits 153,000 transactions in pilot phase">
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 NIBSS Managing Director and CEO, Premier Oiwoh
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A standout feature of this partnership is NIBSS’s access to the source code, granting the organisation the flexibility to make modifications and improvements without being fully reliant on a vendor. According to Premier Oiwoh, NIBSS’s Managing Director and CEO, the platform is tailored to meet the dynamic demands of Nigeria’s bustling payments market, paving the way for a more efficient financial future.
“The NPS was designed and built for the scale and demands of the Nigerian payments market. The jPOS ecosystem gives us the flexibility to continue developing the platform as the ecosystem evolves,” Oiwoh said.
Similar read: <a href="https://technext24.com/fintech/nibss-premier-oiwoh-zero-transfer-fees/" rel="noopener noreferrer nofollow">NIBSS CEO Premier Oiwoh pushes for zero transfer fees in Payments Vision 2028</a>
Alejandro Revilla, founder and chief technology officer of Transactility, described the selection of its technology as an important milestone for the company and the wider payments industry.
He said the partnership demonstrated how open technology and local engineering could be combined to build payment infrastructure for a national market.
“This development is an important milestone for Transactility and the wider payments community,” said&nbsp;Alejandro Revilla, Founder and CTO of Transactility. “We are proud that NIBSS selected technologies from the&nbsp;jPOS&nbsp;ecosystem for the National Payment Stack. NPS shows how open technology and local engineering can be used to build national payment infrastructure at scale.”
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<h4 id="what-the-nibss-transactility-partnership-means" class="wp-block-heading">What the NIBSS-Transactility partnership means</h4>
The integration of open-source technology presents an exciting opportunity for NIBSS to gain greater control over the evolution of the National Payment Stack (NPS). By moving away from a vendor-dependent proprietary system, NIBSS can directly access and modify the source code, tailoring the platform to better meet its specific needs.
However, the recent announcement leaves some questions unanswered. It doesn’t provide details on transaction volumes or performance metrics that would benchmark the NPS against current payment systems. Additionally, users are left wondering when the promised payment features will actually be available.
For banks and fintech companies, the value of this platform hinges on its deployment, the connectivity with financial institutions, and its ability to enhance the speed and reliability of digital payments. While the NPS is poised to play a significant role in Nigeria’s payments landscape, it’s important to note that it won’t immediately replace existing instant transfer services. The true impact will unfold as more details about its implementation and uptake become available.
<figure class="wp-block-image size-full"><img width="1280" height="962" src="https://technext24.com/wp-content/uploads/2026/10/WhatsApp-Image-2026-10-12-at-7.14.39-PM.jpeg" alt="">
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Owned by the Central Bank of Nigeria and licensed deposit banks, NIBSS is instrumental in facilitating interbank transactions, the Bank Verification Number system, and various services across Nigeria’s financial sector.
Partnering with Transactility, a payment-processing technology leader based in Boca Raton, Florida, NIBSS is poised to strengthen Nigeria’s payment infrastructure. Whether this partnership leads to faster, more reliable payments for consumers and businesses will ultimately depend on the NPS’s execution and real-world performance.
Also read: <a href="https://technext24.com/news/nibss-transaction-national-payment-stack/" rel="noopener noreferrer nofollow">NIBSS completes first live transaction on National Payment Stack system</a>

NIBSS taps Transactility’s open-source technology to strengthen Nigeria’s payment system

Technext.ng

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